NOV (NYSE:NOV) Sets New 12-Month Low - Time to Sell?

Shares of NOV Inc. (NYSE:NOV - Get Free Report) reached a new 52-week low on Friday . The company traded as low as $14.98 and last traded at $14.99, with a volume of 1166767 shares. The stock had previously closed at $15.57.

Analyst Ratings Changes

NOV has been the topic of several recent research reports. TD Cowen decreased their price target on NOV from $28.00 to $22.00 and set a "buy" rating on the stock in a report on Monday, October 28th. Morgan Stanley lowered their price target on shares of NOV from $25.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday, September 16th. Wells Fargo & Company dropped their price target 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. JPMorgan Chase & Co. reduced their price objective on shares of NOV from $23.00 to $22.00 and set an "overweight" rating on the stock in a research note on Thursday, October 3rd. Finally, Citigroup cut shares of NOV from a "buy" rating to a "neutral" rating and dropped their target price for the company from $21.00 to $18.00 in a research report on Monday, November 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, NOV currently has a consensus rating of "Hold" and a consensus target price of $21.64.

NOV Price Performance

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 company has a fifty day moving average price of $15.95 and a two-hundred day moving average price of $17.21. The firm has a market cap of $5.82 billion, a P/E ratio of 5.52, a PEG ratio of 0.92 and a beta of 1.66.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, December 6th. NOV's payout ratio is currently 11.07%.

Insider Transactions at NOV

In other news, Director David D. Harrison sold 1,784 shares of the company's stock in a transaction dated 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 transaction, the director now directly owns 110,951 shares of the company's stock, valued at $1,786,311.10. This represents a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.85% of the stock is owned by insiders.

Institutional Investors Weigh In On NOV

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pzena Investment Management LLC boosted its stake in shares of NOV by 22.3% during the 3rd quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company's stock worth $687,143,000 after buying an additional 7,851,220 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in NOV by 23.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company's stock valued at $593,336,000 after purchasing an additional 6,963,660 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in NOV by 40.0% in the second quarter. Dimensional Fund Advisors LP now owns 12,138,093 shares of the oil and gas exploration company's stock valued at $230,743,000 after purchasing an additional 3,470,860 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of NOV by 67.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 9,928,911 shares of the oil and gas exploration company's stock worth $188,749,000 after purchasing an additional 3,989,095 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of NOV by 232.6% during the 2nd quarter. AQR Capital Management LLC now owns 4,888,891 shares of the oil and gas exploration company's stock worth $92,938,000 after purchasing an additional 3,418,885 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

About NOV

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.