Verity Asset Management Inc. Takes $335,000 Position in NOV Inc. (NYSE:NOV)

Verity Asset Management Inc. acquired a new stake in NOV Inc. (NYSE:NOV) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 22,979 shares of the oil and gas exploration company’s stock, valued at approximately $335,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP purchased a new position in NOV in the 3rd quarter valued at approximately $36,000. UMB Bank n.a. boosted its stake 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 purchasing an additional 1,612 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of NOV by 1,590.1% during the third quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock valued at $46,000 after buying an additional 2,735 shares during the period. Brooklyn Investment Group acquired a new position in NOV in the 3rd quarter valued at $48,000. Finally, R Squared Ltd acquired a new position in NOV in the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Trading Down 1.0 %

NYSE:NOV opened at $14.31 on Tuesday. NOV Inc. has a 12-month low of $13.94 and a 12-month high of $21.20. The firm has a market capitalization of $5.57 billion, a P/E ratio of 5.28, a P/E/G ratio of 0.93 and a beta of 1.64. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. The business has a 50 day simple moving average of $14.95 and a 200 day simple moving average of $16.19.

NOV Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Friday, December 6th. NOV’s dividend payout ratio (DPR) is 11.07%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NOV. TD Cowen decreased their price target on shares of NOV from $28.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, October 28th. BMO Capital Markets cut their price target on shares of NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a report on Thursday, October 10th. Atb Cap Markets lowered NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Evercore ISI reaffirmed an “in-line” rating and issued a $18.00 price objective (down previously from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Finally, Citigroup cut NOV from a “buy” rating to a “neutral” rating and reduced their target price for the company from $21.00 to $18.00 in a research note on Monday, November 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, NOV currently has a consensus rating of “Hold” and a consensus price target of $20.00.

Insider Activity

In other NOV news, Director David D. Harrison sold 1,784 shares of the company’s stock in a transaction that occurred on 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. This represents a 1.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.85% of the company’s stock.

NOV 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.