Barclays PLC Acquires 258,392 Shares of NOV Inc. (NYSE:NOV)

Barclays PLC increased its holdings in NOV Inc. (NYSE:NOV - Free Report) by 120.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 473,545 shares of the oil and gas exploration company's stock after buying an additional 258,392 shares during the quarter. Barclays PLC owned 0.12% of NOV worth $7,561,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Rothschild Investment LLC purchased a new position in shares of NOV during the 2nd quarter worth $28,000. Quarry LP purchased a new position in NOV during the third quarter valued at $36,000. American National Bank & Trust bought a new stake in NOV during the third quarter valued at about $39,000. International Assets Investment Management LLC increased its position 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 buying an additional 2,735 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of NOV in the third quarter worth about $48,000. 93.27% of the stock is currently owned by institutional investors.

NOV Trading Down 0.9 %

Shares of NYSE:NOV traded down $0.13 during trading on Thursday, reaching $14.06. The company's stock had a trading volume of 4,624,242 shares, compared to its average volume of 3,740,710. The stock has a market capitalization of $5.47 billion, a PE ratio of 5.19, a price-to-earnings-growth ratio of 0.87 and a beta of 1.66. NOV Inc. has a 12 month low of $14.02 and a 12 month high of $21.23. 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 firm's 50 day simple moving average is $15.70 and its two-hundred day simple moving average is $17.00.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, December 6th. NOV's payout ratio is 11.07%.

Analysts Set New Price Targets

NOV has been the subject of several analyst reports. Susquehanna reduced their target price on shares of NOV from $22.00 to $21.00 and set a "positive" rating for the company in a report on Monday, October 28th. ATB Capital reissued a "sector perform" rating and issued a $19.00 price objective on shares of NOV in a research note on Tuesday, December 10th. Morgan Stanley lowered their target price on shares of NOV from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, September 16th. BMO Capital Markets dropped their target price on shares of NOV from $22.00 to $20.00 and set a "market perform" rating for the company in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their price target on NOV from $23.00 to $22.00 and set an "overweight" rating on the stock in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, NOV presently has an average rating of "Hold" and a consensus price target of $20.14.

Insider Activity

In related news, Director David D. Harrison sold 1,784 shares of NOV 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 directly owns 110,951 shares of the company's stock, valued at approximately $1,786,311.10. The trade was a 1.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.85% of the company's stock.

NOV Company 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.