Harbor Capital Advisors Inc. Raises Stake in NOV Inc. (NYSE:NOV)

Harbor Capital Advisors Inc. raised its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 10.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 581,446 shares of the oil and gas exploration company's stock after purchasing an additional 56,665 shares during the period. Harbor Capital Advisors Inc. owned 0.15% of NOV worth $8,489,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NOV. Quarry LP bought a new stake in NOV in the third quarter valued at approximately $36,000. American National Bank & Trust bought a new position in NOV during the third quarter worth $39,000. International Assets Investment Management LLC lifted 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 valued at $46,000 after buying an additional 2,735 shares during the period. Brooklyn Investment Group acquired a new stake in NOV during the 3rd quarter worth about $48,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of NOV in the 2nd quarter worth about $78,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NOV

In other NOV news, Director David D. Harrison sold 1,784 shares of NOV stock in a transaction dated Wednesday, November 20th. The stock was 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 $1,786,311.10. The trade was a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.85% of the company's stock.

Analyst Upgrades and Downgrades

NOV has been the topic of a number of research reports. Stifel Nicolaus dropped their target price on shares of NOV from $25.00 to $24.00 and set a "buy" rating on the stock in a research report on Monday, October 28th. Citigroup cut shares of NOV from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $21.00 to $18.00 in a research report on Monday, November 11th. Atb Cap Markets downgraded NOV from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. BMO Capital Markets decreased their price objective on NOV from $22.00 to $20.00 and set a "market perform" rating for the company in a report on Thursday, October 10th. Finally, Bank of America lowered their target price on NOV from $22.00 to $20.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, NOV currently has a consensus rating of "Hold" and a consensus price target of $20.14.

NOV Price Performance

Shares of NOV stock traded down $0.10 on Friday, reaching $14.52. The stock had a trading volume of 3,217,113 shares, compared to its average volume of 2,645,769. The company has a market cap of $5.65 billion, a P/E ratio of 5.36, a price-to-earnings-growth ratio of 0.87 and a beta of 1.66. The company has a current ratio of 2.57, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26. The business's 50 day moving average is $15.38 and its two-hundred day moving average is $16.67. NOV Inc. has a 1 year low of $13.94 and a 1 year high of $21.23.

NOV Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.075 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.07%. NOV's dividend payout ratio (DPR) is currently 11.07%.

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.