Assenagon Asset Management S.A. Invests $6.33 Million in NOV Inc. (NYSE:NOV)

Assenagon Asset Management S.A. acquired a new stake in shares of NOV Inc. (NYSE:NOV - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 433,569 shares of the oil and gas exploration company's stock, valued at approximately $6,330,000. Assenagon Asset Management S.A. owned approximately 0.11% of NOV as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Truist Financial Corp lifted its position in shares of NOV by 3.4% during the second quarter. Truist Financial Corp now owns 29,729 shares of the oil and gas exploration company's stock worth $565,000 after purchasing an additional 991 shares during the last quarter. HM Payson & Co. lifted its holdings in NOV by 2.1% during the 3rd quarter. HM Payson & Co. now owns 49,000 shares of the oil and gas exploration company's stock worth $783,000 after buying an additional 1,000 shares during the last quarter. KBC Group NV lifted its holdings in 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 buying an additional 1,163 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of 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 acquiring an additional 1,164 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of NOV by 10.8% during the 4th 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 acquiring an additional 1,656 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director David D. Harrison sold 1,784 shares of the firm's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total transaction of $28,722.40. Following the completion of the transaction, the director now owns 110,951 shares in the company, valued at approximately $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 accessible through this link. 1.85% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of NOV from $23.00 to $22.00 and set an "overweight" rating for the company in a research note on Thursday, October 3rd. TD Cowen lowered their price objective on shares of NOV from $28.00 to $22.00 and set a "buy" rating for the company in a research report on Monday, October 28th. Stifel Nicolaus cut their target price on shares of NOV from $25.00 to $24.00 and set a "buy" rating on the stock in a report on Monday, October 28th. Bank of America lowered their target price on NOV from $22.00 to $20.00 and set a "buy" rating for the company in a report on Monday, October 14th. Finally, Evercore ISI reissued an "in-line" rating and issued a $18.00 price target (down previously from $25.00) on shares of NOV in a report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, NOV presently has an average rating of "Hold" and a consensus target price of $20.00.

NOV Price Performance

NOV stock traded up $0.52 during trading hours on Monday, hitting $15.64. 5,315,398 shares of the company traded hands, compared to its average volume of 4,162,663. The firm's 50-day simple moving average is $15.28 and its two-hundred day simple moving average is $16.48. The firm has a market cap of $6.08 billion, a P/E ratio of 5.77, a P/E/G ratio of 0.90 and a beta of 1.66. NOV Inc. has a 1-year low of $13.94 and a 1-year high of $21.23. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26.

NOV Dividend Announcement

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

About NOV

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.