Thrivent Financial for Lutherans Decreases Holdings in NOV Inc. (NYSE:NOV)

Thrivent Financial for Lutherans trimmed its position in shares of NOV Inc. (NYSE:NOV - Free Report) by 5.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,423,925 shares of the oil and gas exploration company's stock after selling 403,267 shares during the quarter. Thrivent Financial for Lutherans owned approximately 1.91% of NOV worth $118,560,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its position in NOV by 41.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 19,223 shares of the oil and gas exploration company's stock worth $375,000 after buying an additional 5,646 shares during the period. Entropy Technologies LP bought a new stake in shares of NOV in the first quarter worth $229,000. State Board of Administration of Florida Retirement System increased its holdings in NOV by 0.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 449,923 shares of the oil and gas exploration company's stock valued at $8,328,000 after purchasing an additional 3,535 shares during the period. Edgestream Partners L.P. bought a new position in NOV during the 1st quarter worth $314,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in NOV during the 1st quarter worth about $277,000. 93.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Bank of America decreased their price target on NOV from $22.00 to $20.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Evercore ISI upgraded shares of NOV to a "strong-buy" rating in a research report on Friday, July 26th. Citigroup cut 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 report on Monday, November 11th. Morgan Stanley lowered their target price on shares of NOV from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, September 16th. Finally, BMO Capital Markets cut their target price on NOV from $22.00 to $20.00 and set a "market perform" rating on the stock in a research report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $21.64.

NOV Stock Down 1.5 %

Shares of NOV stock traded down $0.24 during trading hours on Friday, reaching $15.97. The company's stock had a trading volume of 2,727,663 shares, compared to its average volume of 3,900,347. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.57. The stock's fifty day simple moving average is $16.02 and its two-hundred day simple moving average is $17.50. The company has a market capitalization of $6.21 billion, a P/E ratio of 5.89, a P/E/G ratio of 0.92 and a beta of 1.66. NOV Inc. has a one year low of $14.98 and a one year high of $21.23.

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Friday, December 6th. NOV's dividend payout ratio is currently 11.07%.

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.