Canandaigua National Bank & Trust Co. Has $2.37 Million Holdings in NOV Inc. $NOV

Canandaigua National Bank & Trust Co. boosted its position in shares of NOV Inc. (NYSE:NOV) by 76.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,816 shares of the oil and gas exploration company’s stock after acquiring an additional 77,605 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in NOV were worth $2,369,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Signaturefd LLC lifted its position in shares of NOV by 33.2% during the 2nd quarter. Signaturefd LLC now owns 3,733 shares of the oil and gas exploration company’s stock worth $46,000 after purchasing an additional 931 shares during the last quarter. Vident Advisory LLC lifted its holdings in shares of NOV by 9.6% during the first quarter. Vident Advisory LLC now owns 12,860 shares of the oil and gas exploration company’s stock worth $196,000 after buying an additional 1,126 shares during the last quarter. Keeley Teton Advisors LLC boosted its position in shares of NOV by 1.1% in the first quarter. Keeley Teton Advisors LLC now owns 107,317 shares of the oil and gas exploration company’s stock valued at $1,633,000 after acquiring an additional 1,128 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of NOV by 30.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,937 shares of the oil and gas exploration company’s stock worth $75,000 after acquiring an additional 1,155 shares during the last quarter. Finally, Voya Investment Management LLC increased its position in NOV by 2.8% during the first quarter. Voya Investment Management LLC now owns 48,413 shares of the oil and gas exploration company’s stock worth $737,000 after acquiring an additional 1,309 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on NOV. Citigroup increased their price target on shares of NOV from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of NOV in a research note on Wednesday, December 10th. Barclays lowered their price target on NOV from $14.00 to $13.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 11th. Raymond James Financial reiterated an “outperform” rating and issued a $17.00 price objective on shares of NOV in a research report on Tuesday, October 28th. Finally, Royal Bank Of Canada boosted their price objective on NOV from $17.00 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, NOV currently has a consensus rating of “Hold” and a consensus price target of $15.42.

NOV Price Performance

NOV stock opened at $15.32 on Wednesday. The business has a 50 day simple moving average of $14.80 and a 200 day simple moving average of $13.64. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.55 and a quick ratio of 1.71. The company has a market capitalization of $5.59 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 5.17 and a beta of 0.97. NOV Inc. has a one year low of $10.84 and a one year high of $16.96.

NOV (NYSE:NOV) last announced its quarterly earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). NOV had a net margin of 4.36% and a return on equity of 5.89%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. On average, sell-side analysts forecast that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, December 5th. NOV’s dividend payout ratio (DPR) is currently 30.00%.

Insider Buying and Selling

In other news, Director Christian S. Kendall acquired 70,000 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were purchased at an average cost of $14.46 per share, with a total value of $1,012,200.00. Following the completion of the purchase, the director owned 85,949 shares of the company’s stock, valued at $1,242,822.54. This represents a 438.90% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.85% of the stock is currently owned by company insiders.

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.