Pallas Capital Advisors LLC Acquires Shares of 13,271 NOV Inc. (NYSE:NOV)

Pallas Capital Advisors LLC acquired a new position in shares of NOV Inc. (NYSE:NOV) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 13,271 shares of the oil and gas exploration company’s stock, valued at approximately $194,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOV. Truist Financial Corp increased its holdings in shares of NOV by 3.4% during the 2nd quarter. Truist Financial Corp now owns 29,729 shares of the oil and gas exploration company’s stock worth $565,000 after buying an additional 991 shares during the last quarter. HM Payson & Co. increased its stake in NOV by 2.1% during the third quarter. HM Payson & Co. now owns 49,000 shares of the oil and gas exploration company’s stock worth $783,000 after acquiring an additional 1,000 shares during the last quarter. KBC Group NV increased its position in shares of NOV by 11.8% during the 3rd quarter. KBC Group NV now owns 11,060 shares of the oil and gas exploration company’s stock worth $177,000 after purchasing an additional 1,163 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in NOV by 2.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 51,567 shares of the oil and gas exploration company’s stock valued at $980,000 after buying an additional 1,164 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in NOV by 10.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company’s stock valued at $271,000 after buying an additional 1,656 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Buying and Selling at NOV

In related news, Director David D. Harrison sold 1,784 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the completion of the transaction, the director now directly owns 110,951 shares of the company’s stock, valued at $1,786,311.10. This trade represents a 1.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.85% of the stock is currently owned by corporate insiders.

NOV Stock Up 1.7 %

NOV opened at $15.14 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. NOV Inc. has a 12 month low of $13.94 and a 12 month high of $21.23. The stock has a market capitalization of $5.89 billion, a P/E ratio of 5.59, a P/E/G ratio of 0.87 and a beta of 1.66. The business has a 50 day simple moving average of $15.35 and a 200-day simple moving average of $16.55.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.30 annualized dividend and a yield of 1.98%. NOV’s payout ratio is currently 11.07%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets reduced their price target on shares of NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Thursday, October 10th. Evercore ISI restated an “in-line” rating and set a $18.00 price target (down from $25.00) on shares of NOV in a research note on Wednesday. Bank of America dropped their price objective on NOV from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Atb Cap Markets downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, ATB Capital reiterated a “sector perform” rating and issued a $19.00 price objective on shares of NOV in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, NOV has an average rating of “Hold” and a consensus target price of $20.00.

NOV Company Profile

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits.