NOV Inc. (NYSE:NOV) Shares Purchased by KBC Group NV

KBC Group NV raised its holdings in NOV Inc. (NYSE:NOV) by 11.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,060 shares of the oil and gas exploration company’s stock after purchasing an additional 1,163 shares during the quarter. KBC Group NV’s holdings in NOV were worth $177,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. MQS Management LLC purchased a new position in NOV during the 3rd quarter valued at about $454,000. Victory Capital Management Inc. grew its holdings in NOV by 32.2% in the third quarter. Victory Capital Management Inc. now owns 109,984 shares of the oil and gas exploration company’s stock valued at $1,756,000 after purchasing an additional 26,792 shares during the period. GSA Capital Partners LLP raised its position in shares of NOV by 63.1% in the 3rd quarter. GSA Capital Partners LLP now owns 46,808 shares of the oil and gas exploration company’s stock worth $748,000 after buying an additional 18,102 shares during the period. Innealta Capital LLC grew its holdings in shares of NOV by 49.9% during the 3rd quarter. Innealta Capital LLC now owns 15,448 shares of the oil and gas exploration company’s stock worth $247,000 after purchasing an additional 5,140 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in shares of NOV by 176.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 524,781 shares of the oil and gas exploration company’s stock valued at $8,381,000 after acquiring an additional 334,925 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Trading Up 1.7 %

Shares of NYSE:NOV opened at $16.26 on Thursday. The firm has a fifty day moving average of $16.02 and a two-hundred day moving average of $17.46. NOV Inc. has a 12-month low of $14.98 and a 12-month high of $21.23. The firm has a market capitalization of $6.32 billion, a P/E ratio of 6.00, a price-to-earnings-growth ratio of 0.93 and a beta of 1.66. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Friday, December 6th. NOV’s dividend payout ratio is presently 11.07%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Benchmark reaffirmed a “hold” rating on shares of NOV in a research report on Friday, July 26th. Stifel Nicolaus dropped their price objective on shares of NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Bank of America reduced their price objective on shares of NOV from $22.00 to $20.00 and set a “buy” rating for the company in a report on Monday, October 14th. Susquehanna cut 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. Finally, Wells Fargo & Company reduced their price objective on NOV from $16.00 to $15.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NOV presently has an average rating of “Hold” and an average price target of $21.64.

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.