NOV Inc. (NYSE:NOV) Director David D. Harrison Sells 1,784 Shares of Stock

NOV Inc. (NYSE:NOV) Director David D. Harrison sold 1,784 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the completion of the sale, the director now directly owns 110,951 shares of the company’s stock, valued at $1,786,311.10. This represents a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NOV Stock Up 1.6 %

Shares of NOV traded up $0.27 during mid-day trading on Friday, reaching $16.67. The company had a trading volume of 945,129 shares, compared to its average volume of 3,698,180. 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 firm has a 50-day moving average price of $16.03 and a 200 day moving average price of $17.45. NOV Inc. has a 52 week low of $14.98 and a 52 week high of $21.23. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 6.08, a price-to-earnings-growth ratio of 0.93 and a beta of 1.66.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.075 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.80%. NOV’s dividend payout ratio is currently 11.07%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 price target on shares of NOV in a report on Monday, July 29th. Wells Fargo & Company lowered their price target on NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Evercore ISI upgraded NOV to a “strong-buy” rating in a report on Friday, July 26th. Citigroup downgraded 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. Finally, Bank of America reduced their price target 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, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, NOV currently has a consensus rating of “Hold” and a consensus target price of $21.64.

Institutional Investors Weigh In On NOV

A number of hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC increased its stake in shares of NOV by 120.1% in the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock worth $7,561,000 after purchasing an additional 258,392 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in NOV in the 3rd quarter worth $1,713,000. XTX Topco Ltd bought a new position in NOV in the 3rd quarter worth $955,000. Wolverine Trading LLC boosted its holdings in NOV by 29.1% in the 3rd quarter. Wolverine Trading LLC now owns 17,688 shares of the oil and gas exploration company’s stock worth $283,000 after buying an additional 3,988 shares during the period. Finally, Weiss Asset Management LP bought a new position in NOV in the 3rd quarter worth $35,709,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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.