Harbor Capital Advisors Inc. Has $8.38 Million Stock Holdings in NOV Inc. (NYSE:NOV)

Harbor Capital Advisors Inc. increased its stake in NOV Inc. (NYSE:NOV - Free Report) by 176.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 524,781 shares of the oil and gas exploration company's stock after acquiring an additional 334,925 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.13% of NOV worth $8,381,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Boston Partners acquired a new position in shares of NOV during the 1st quarter valued at $119,686,000. Bank of New York Mellon Corp raised its position in NOV by 67.2% in the second 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 acquiring an additional 3,989,095 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in NOV by 12.7% in the 1st quarter. Pzena Investment Management LLC now owns 35,072,648 shares of the oil and gas exploration company's stock valued at $684,618,000 after acquiring an additional 3,946,504 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of NOV by 40.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,138,093 shares of the oil and gas exploration company's stock worth $230,743,000 after purchasing an additional 3,470,860 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of NOV by 232.6% in 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 during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NOV. JPMorgan Chase & Co. reduced their target price on shares of NOV from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Thursday, October 3rd. TD Cowen decreased their target price on NOV from $28.00 to $22.00 and set a "buy" rating on the stock in a report on Monday, October 28th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $24.00 target price on shares of NOV in a report on Monday, July 29th. Morgan Stanley dropped their price target on NOV from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, September 16th. Finally, Bank of America cut their price objective on NOV from $22.00 to $20.00 and set a "buy" rating on the stock in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $21.93.

NOV Stock Down 2.2 %

NOV stock traded down $0.34 during mid-day trading on Friday, hitting $15.17. The stock had a trading volume of 3,359,957 shares, compared to its average volume of 3,760,577. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 0.89 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. NOV Inc. has a 1-year low of $14.98 and a 1-year high of $21.23. The company has a fifty day moving average of $16.26 and a 200 day moving average of $17.69.

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 given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.98%. The ex-dividend date was Friday, September 13th. NOV's dividend payout ratio is 11.07%.

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.