Geode Capital Management LLC cut its position in shares of NOV Inc. (NYSE:NOV - Free Report) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,395,641 shares of the oil and gas exploration company's stock after selling 87,350 shares during the quarter. Geode Capital Management LLC owned about 1.64% of NOV worth $102,166,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. Deprince Race & Zollo Inc. grew its holdings in NOV by 1,194.1% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,706,017 shares of the oil and gas exploration company's stock worth $32,431,000 after acquiring an additional 1,574,188 shares during the period. WINTON GROUP Ltd grew its stake in NOV by 1,866.3% during the second quarter. WINTON GROUP Ltd now owns 841,078 shares of the oil and gas exploration company's stock worth $15,989,000 after purchasing an additional 798,303 shares during the period. International Assets Investment Management LLC increased its holdings in NOV by 1,590.1% in the third quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company's stock worth $46,000 after purchasing an additional 2,735 shares in the last quarter. Bank of Montreal Can lifted its stake in NOV by 519.1% in the third quarter. Bank of Montreal Can now owns 438,068 shares of the oil and gas exploration company's stock valued at $7,000,000 after buying an additional 367,308 shares during the period. Finally, Weiss Asset Management LP bought a new position in shares of NOV during the 3rd quarter worth approximately $35,709,000. Institutional investors own 93.27% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on NOV shares. Atb Cap Markets downgraded shares of NOV from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Susquehanna dropped their price objective on shares of NOV from $22.00 to $21.00 and set a "positive" rating on the stock in a report on Monday, October 28th. BMO Capital Markets reduced their target price on NOV from $22.00 to $20.00 and set a "market perform" rating for the company in a research note on Thursday, October 10th. TD Cowen dropped their price target on NOV from $28.00 to $22.00 and set a "buy" rating on the stock in a research note on Monday, October 28th. Finally, Stifel Nicolaus reduced their price objective on NOV from $25.00 to $24.00 and set a "buy" rating for the company in a research note on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $20.14.
Check Out Our Latest Stock Analysis on NOV
NOV Stock Down 0.9 %
Shares of NYSE NOV traded down $0.13 during trading on Thursday, hitting $14.06. The stock had a trading volume of 4,624,242 shares, compared to its average volume of 3,740,710. The firm has a fifty day moving average of $15.74 and a two-hundred day moving average of $17.02. The company has a market capitalization of $5.47 billion, a PE ratio of 5.19, a PEG ratio of 0.87 and a beta of 1.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. NOV Inc. has a 12 month low of $14.02 and a 12 month high of $21.23.
NOV Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Friday, December 6th. NOV's payout ratio is 11.07%.
Insider Buying and Selling at NOV
In related news, Director David D. Harrison sold 1,784 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total transaction of $28,722.40. Following the completion of the sale, the director now directly owns 110,951 shares of the company's stock, valued at approximately $1,786,311.10. This trade represents a 1.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.85% of the company's stock.
About NOV
(
Free Report)
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.
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