Goehring & Rozencwajg Associates LLC Sells 5,591 Shares of NOV Inc. (NYSE:NOV)

Goehring & Rozencwajg Associates LLC cut its holdings in shares of NOV Inc. (NYSE:NOV) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 189,652 shares of the oil and gas exploration company’s stock after selling 5,591 shares during the period. Goehring & Rozencwajg Associates LLC’s holdings in NOV were worth $2,691,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its holdings in NOV by 12,344.0% during the 4th quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock worth $179,718,000 after acquiring an additional 12,210,514 shares during the last quarter. Pzena Investment Management LLC lifted its position in shares of NOV by 22.3% during the 3rd quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock worth $687,143,000 after buying an additional 7,851,220 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of NOV by 23.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company’s stock valued at $593,336,000 after acquiring an additional 6,963,660 shares in the last quarter. Weiss Asset Management LP bought a new stake in NOV during the third quarter worth $35,709,000. Finally, Greenhaven Associates Inc. grew its stake in NOV by 61.7% in the 4th quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock valued at $48,049,000 after purchasing an additional 1,255,666 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Activity at NOV

In other NOV news, Director David D. Harrison sold 1,784 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total value of $28,722.40. Following the transaction, the director now owns 110,951 shares in the company, valued at approximately $1,786,311.10. The trade was a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank of Canada boosted their target price on shares of NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a research note on Thursday. Evercore ISI reaffirmed an “in-line” rating and set a $18.00 price objective (down from $25.00) on shares of NOV in a report on Wednesday, January 15th. Barclays lowered their price target on shares of NOV from $16.00 to $12.00 and set an “underweight” rating on the stock in a research report on Wednesday, December 18th. 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. Finally, TD Cowen cut their price target on NOV from $28.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $19.47.

NOV Trading Up 0.9 %

NOV stock opened at $15.62 on Friday. NOV Inc. has a one year low of $13.94 and a one year high of $21.20. The company has a market capitalization of $6.08 billion, a PE ratio of 5.76, a price-to-earnings-growth ratio of 0.93 and a beta of 1.64. The company’s 50 day moving average price is $14.91 and its two-hundred day moving average price is $16.13. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.57.

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, beating analysts’ consensus estimates of $0.35 by $0.06. NOV had a return on equity of 10.82% and a net margin of 12.05%. As a group, analysts predict that NOV Inc. will post 1.53 earnings per share for the current fiscal year.

NOV Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, December 6th. NOV’s dividend payout ratio is 11.07%.

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.