Quantbot Technologies LP Sells 128,528 Shares of NOV Inc. $NOV

Quantbot Technologies LP lowered its stake in NOV Inc. (NYSE:NOV) by 70.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,842 shares of the oil and gas exploration company’s stock after selling 128,528 shares during the quarter. Quantbot Technologies LP’s holdings in NOV were worth $700,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CoreFirst Bank & Trust purchased a new position in NOV during the 2nd quarter valued at approximately $35,000. UMB Bank n.a. boosted its position in shares of NOV by 114.1% during the 3rd quarter. UMB Bank n.a. now owns 3,109 shares of the oil and gas exploration company’s stock valued at $41,000 after acquiring an additional 1,657 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of NOV by 88.4% during the 3rd quarter. Fifth Third Bancorp now owns 5,083 shares of the oil and gas exploration company’s stock valued at $67,000 after acquiring an additional 2,385 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of NOV by 33.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,595 shares of the oil and gas exploration company’s stock valued at $82,000 after purchasing an additional 1,658 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in NOV by 25.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,738 shares of the oil and gas exploration company’s stock worth $89,000 after purchasing an additional 1,359 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on NOV shares. Citigroup increased their price objective on shares of NOV from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, February 11th. TD Cowen restated a “buy” rating on shares of NOV in a research report on Friday, February 6th. Stifel Nicolaus increased their price target on shares of NOV from $19.00 to $21.00 and gave the company a “buy” rating in a report on Friday, February 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of NOV in a research report on Monday, December 29th. Finally, BMO Capital Markets boosted their price objective on NOV from $19.00 to $20.00 and gave the stock a “market perform” rating in a research note on Monday, February 9th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $18.57.

NOV Stock Performance

NOV stock opened at $18.58 on Friday. NOV Inc. has a twelve month low of $10.84 and a twelve month high of $20.85. The firm has a market cap of $6.70 billion, a price-to-earnings ratio of 48.90 and a beta of 0.89. The business’s fifty day simple moving average is $18.48 and its two-hundred day simple moving average is $15.73. The company has a quick ratio of 1.67, a current ratio of 2.42 and a debt-to-equity ratio of 0.27.

NOV (NYSE:NOV) last released its quarterly earnings data on Thursday, February 5th. The oil and gas exploration company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.23). The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.17 billion. NOV had a net margin of 1.66% and a return on equity of 3.57%. NOV’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. Analysts predict that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a dividend of $0.09 per share. This is a positive change from NOV’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.36 dividend on an annualized basis and a yield of 1.9%. NOV’s payout ratio is 78.95%.

Insider Activity

In other NOV news, VP Craig L. Weinstock sold 70,000 shares of NOV stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $20.08, for a total value of $1,405,600.00. Following the transaction, the vice president owned 256,319 shares in the company, valued at $5,146,885.52. The trade was a 21.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph W. Rovig sold 151,086 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $20.17, for a total transaction of $3,047,404.62. Following the transaction, the insider owned 269,694 shares of the company’s stock, valued at approximately $5,439,727.98. This trade represents a 35.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.08% of the company’s stock.

NOV Company Profile

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.