Fmr LLC Decreases Stock Holdings in NOV Inc. (NYSE:NOV)

Fmr LLC lowered its stake in shares of NOV Inc. (NYSE:NOV) by 70.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,470,683 shares of the oil and gas exploration company’s stock after selling 3,579,737 shares during the quarter. Fmr LLC owned about 0.38% of NOV worth $23,487,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Rothschild Investment LLC acquired a new position in shares of NOV during the second quarter valued at about $28,000. American National Bank & Trust acquired a new position in shares of NOV during the third quarter valued at about $39,000. International Assets Investment Management LLC increased its holdings in shares of NOV by 1,590.1% during the third quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 2,735 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of NOV during the second quarter valued at about $78,000. Finally, Signaturefd LLC increased its holdings in shares of NOV by 67.6% during the second quarter. Signaturefd LLC now owns 4,443 shares of the oil and gas exploration company’s stock valued at $84,000 after acquiring an additional 1,792 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Trading Up 1.3 %

Shares of NYSE:NOV opened at $15.16 on Tuesday. NOV Inc. has a 1 year low of $14.94 and a 1 year high of $21.23. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 5.59, a price-to-earnings-growth ratio of 0.87 and a beta of 1.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. The business’s 50 day moving average price is $15.93 and its 200-day moving average price is $17.18.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.98%. NOV’s dividend payout ratio (DPR) is 11.07%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NOV shares. Bank of America cut their price target on shares of NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Barclays cut their price target on shares of NOV from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. Morgan Stanley cut their price target on shares of NOV from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company cut their price target on shares of NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. cut their price target on shares of NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $21.64.

Insider Activity

In other news, Director David D. Harrison sold 1,784 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total transaction of $28,722.40. Following the transaction, the director now owns 110,951 shares in the company, valued at $1,786,311.10. This trade represents a 1.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.85% of the company’s stock.

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.