Trexquant Investment LP Sells 6,695 Shares of NOV Inc. (NYSE:NOV)

Trexquant Investment LP reduced its stake in NOV Inc. (NYSE:NOV) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 771,635 shares of the oil and gas exploration company’s stock after selling 6,695 shares during the period. Trexquant Investment LP owned approximately 0.20% of NOV worth $11,266,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of NOV. Quarry LP bought a new stake in shares of NOV in the third quarter worth about $36,000. UMB Bank n.a. raised its holdings in shares of NOV by 222.3% during the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock worth $34,000 after acquiring an additional 1,612 shares in the last quarter. Signaturefd LLC boosted its position in shares of NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $38,000 after acquiring an additional 756 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of NOV in the fourth quarter valued at $42,000. Finally, CoreFirst Bank & Trust bought a new stake in NOV in the fourth quarter worth $41,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Price Performance

NOV stock opened at $15.34 on Thursday. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 9.53, a price-to-earnings-growth ratio of 1.02 and a beta of 1.34. The firm has a 50-day moving average of $15.00 and a two-hundred day moving average of $15.38. NOV Inc. has a 1 year low of $13.78 and a 1 year high of $21.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64.

NOV (NYSE:NOV) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. On average, research analysts forecast that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.075 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 1.96%. NOV’s payout ratio is currently 18.63%.

Analyst Ratings Changes

NOV has been the subject of several research reports. Barclays increased their price objective on shares of NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research report on Tuesday, February 18th. ATB Capital reiterated a “sector perform” rating and issued a $19.00 price target on shares of NOV in a research report on Tuesday, December 10th. Evercore ISI restated an “in-line” rating and set a $18.00 price objective (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Royal Bank of Canada upgraded NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Monday, March 24th. Finally, Raymond James increased their price target on NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, NOV has a consensus rating of “Hold” and a consensus price target of $19.60.

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.