NOV Inc. (NYSE:NOV) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its position in NOV Inc. (NYSE:NOV - Free Report) by 29.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 795,356 shares of the oil and gas exploration company's stock after selling 333,199 shares during the period. JPMorgan Chase & Co. owned about 0.20% of NOV worth $12,702,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Quarry LP acquired a new position in shares of NOV in the third quarter valued at approximately $36,000. American National Bank & Trust acquired a new position in NOV during the third quarter worth approximately $39,000. International Assets Investment Management LLC increased its position in 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 worth $46,000 after purchasing an additional 2,735 shares during the last quarter. Brooklyn Investment Group acquired a new position in NOV during the third quarter worth approximately $48,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in NOV during the second quarter worth approximately $78,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Insider Buying and Selling at NOV

In other NOV news, Director David D. Harrison sold 1,784 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total transaction of $28,722.40. Following the transaction, the director now directly owns 110,951 shares in the company, valued at $1,786,311.10. This represents a 1.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.85% of the stock is currently owned by insiders.

NOV Stock Down 0.7 %

Shares of NOV stock traded down $0.10 on Friday, hitting $14.52. The stock had a trading volume of 3,217,113 shares, compared to its average volume of 2,645,769. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of 5.36, a P/E/G ratio of 0.87 and a beta of 1.66. The stock's 50 day moving average is $15.37 and its 200-day moving average is $16.61. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.57. NOV Inc. has a 52-week low of $13.94 and a 52-week high of $21.23.

NOV Announces Dividend

The company also recently announced 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 of this dividend was Friday, December 6th. This represents a $0.30 annualized dividend and a dividend yield of 2.07%. NOV's dividend payout ratio (DPR) is presently 11.07%.

Analysts Set New Price Targets

NOV has been the subject of several research analyst reports. Barclays dropped their price target on shares of NOV from $16.00 to $12.00 and set an "underweight" rating for the company in a research report on Wednesday, December 18th. Seaport Res Ptn lowered shares of NOV from a "strong-buy" rating to a "hold" rating in a research report on Sunday, January 5th. JPMorgan Chase & Co. dropped their price target on shares of NOV from $23.00 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company decreased their price objective on shares of NOV from $16.00 to $15.00 and set an "underweight" rating for the company in a research note on Monday, November 4th. Finally, Citigroup downgraded shares of NOV from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $21.00 to $18.00 in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $20.14.

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.