State Street Corp Trims Stock Holdings in NOV Inc. (NYSE:NOV)

State Street Corp reduced its holdings in shares of NOV Inc. (NYSE:NOV) by 2.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 12,691,592 shares of the oil and gas exploration company’s stock after selling 288,992 shares during the period. State Street Corp owned about 3.26% of NOV worth $202,685,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Rothschild Investment LLC bought a new stake in shares of NOV during the second quarter worth $28,000. Quarry LP bought a new stake in NOV during the 3rd quarter valued at about $36,000. American National Bank & Trust purchased a new stake in NOV in the 3rd quarter valued at about $39,000. International Assets Investment Management LLC grew its stake in NOV by 1,590.1% in the 3rd quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock worth $46,000 after acquiring an additional 2,735 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of NOV during the third quarter worth approximately $48,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Activity at NOV

In other NOV news, Director David D. Harrison sold 1,784 shares of NOV stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total transaction of $28,722.40. Following the completion of the sale, the director now owns 110,951 shares of the company’s stock, valued at approximately $1,786,311.10. The trade was a 1.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.85% of the stock is owned by insiders.

Analysts Set New Price Targets

NOV has been the topic of several research analyst reports. ATB Capital reissued a “sector perform” rating and issued a $19.00 price objective on shares of NOV in a research note on Tuesday. TD Cowen dropped their price target on NOV from $28.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Susquehanna decreased their price objective on NOV from $22.00 to $21.00 and set a “positive” rating for the company in a report on Monday, October 28th. Morgan Stanley dropped their target price 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. Finally, Citigroup lowered shares of NOV from a “buy” rating to a “neutral” rating and reduced their price target for the company from $21.00 to $18.00 in a report on Monday, November 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.64.

NOV Stock Down 1.9 %

NOV stock opened at $15.10 on Friday. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26. NOV Inc. has a 52 week low of $14.94 and a 52 week high of $21.23. The stock has a market capitalization of $5.87 billion, a PE ratio of 5.57, a price-to-earnings-growth ratio of 0.87 and a beta of 1.66. The firm has a 50 day moving average of $15.87 and a 200 day moving average of $17.14.

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders 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 dividend yield of 1.99%. The ex-dividend date is Friday, December 6th. NOV’s dividend payout ratio (DPR) is presently 11.07%.

NOV Company 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.