37,283 Shares in NOV Inc. (NYSE:NOV) Bought by Diversified Trust Co

Diversified Trust Co purchased a new position in NOV Inc. (NYSE:NOV - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 37,283 shares of the oil and gas exploration company's stock, valued at approximately $595,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in shares of NOV in the 1st quarter valued at $26,000. Rothschild Investment LLC acquired a new stake in NOV in the second quarter valued at $28,000. Riverview Trust Co bought a new stake in NOV in the first quarter valued at approximately $39,000. American National Bank & Trust bought a new position in shares of NOV in the third quarter valued at about $39,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in NOV in the 2nd quarter valued at $78,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NOV shares. Susquehanna decreased their price target on NOV from $26.00 to $22.00 and set a "positive" rating on the stock in a research note on Friday. Citigroup cut their target price on shares of NOV from $24.00 to $21.00 and set a "buy" rating on the stock in a research note on Thursday, October 3rd. Benchmark reissued a "hold" rating on shares of NOV in a research report on Friday, July 26th. TD Cowen raised their price objective on NOV from $27.00 to $28.00 and gave the company a "buy" rating in a research note on Monday, July 29th. Finally, Bank of America lowered their price objective on shares of NOV from $24.00 to $22.00 and set a "buy" rating on the stock in a research report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, NOV presently has an average rating of "Moderate Buy" and an average price target of $22.93.

NOV Stock Performance

Shares of NYSE:NOV traded up $0.18 during trading on Friday, hitting $16.36. The stock had a trading volume of 1,500,774 shares, compared to its average volume of 3,694,897. NOV Inc. has a 12-month low of $15.47 and a 12-month high of $21.53. The company has a quick ratio of 1.64, a current ratio of 2.61 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of 6.13, a price-to-earnings-growth ratio of 0.47 and a beta of 1.67. The stock has a 50-day simple moving average of $16.98 and a two-hundred day simple moving average of $18.17.

NOV (NYSE:NOV - Get Free Report) last announced its earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.22. NOV had a net margin of 11.88% and a return on equity of 10.97%. The company had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.19 billion. During the same quarter in the previous year, the company posted $0.39 EPS. The firm's quarterly revenue was up 5.9% on a year-over-year basis. On average, equities research analysts expect that NOV Inc. will post 1.64 earnings per share for the current fiscal year.

NOV Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.30 dividend on an annualized basis and a yield of 1.83%. NOV's dividend payout ratio (DPR) is presently 11.24%.

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.