Renaissance Technologies LLC Sells 57,200 Shares of NOV Inc. (NYSE:NOV)

Renaissance Technologies LLC trimmed its holdings in shares of NOV Inc. (NYSE:NOV - Free Report) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 640,410 shares of the oil and gas exploration company's stock after selling 57,200 shares during the quarter. Renaissance Technologies LLC owned 0.16% of NOV worth $9,350,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Huntington National Bank lifted its position in shares of NOV by 88.7% in the 4th quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company's stock worth $32,000 after purchasing an additional 1,034 shares during the period. UMB Bank n.a. lifted its position in shares of NOV by 222.3% in 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 period. Signaturefd LLC lifted its position in shares of NOV by 41.3% in the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company's stock worth $38,000 after purchasing an additional 756 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of NOV in the 4th quarter worth approximately $42,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of NOV in the 4th quarter worth approximately $41,000. 93.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NOV has been the topic of a number of recent analyst reports. The Goldman Sachs Group dropped their price target on shares of NOV from $16.00 to $13.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th. Barclays boosted their target price 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. Raymond James boosted their target price on shares of NOV from $18.00 to $19.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Royal Bank of Canada upgraded shares of NOV from a "sector perform" rating to an "outperform" rating and set a $22.00 target price on the stock in a research report on Monday, March 24th. Finally, Seaport Res Ptn downgraded shares of NOV from a "strong-buy" rating to a "hold" rating in a research report on Sunday, January 5th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $19.00.

NOV Trading Up 0.8 %

Shares of NOV traded up $0.10 during trading hours on Wednesday, hitting $12.26. The company had a trading volume of 672,539 shares, compared to its average volume of 3,873,364. The firm has a market cap of $4.64 billion, a P/E ratio of 7.61, a P/E/G ratio of 1.02 and a beta of 1.35. The stock's 50 day moving average price is $14.02 and its 200 day moving average price is $14.92. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. NOV Inc. has a 52-week low of $10.84 and a 52-week high of $21.20.

NOV (NYSE:NOV - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 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 predict that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 2.45%. NOV's dividend payout ratio is presently 18.63%.

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.