Swiss National Bank Decreases Stake in NOV Inc. (NYSE:NOV)

Swiss National Bank decreased its holdings in shares of NOV Inc. (NYSE:NOV) by 0.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 772,200 shares of the oil and gas exploration company’s stock after selling 2,700 shares during the quarter. Swiss National Bank’s holdings in NOV were worth $12,332,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Rothschild Investment LLC purchased a new stake in NOV during the 2nd quarter valued at about $28,000. American National Bank & Trust purchased a new stake in shares of NOV in the third quarter valued at approximately $39,000. International Assets Investment Management LLC increased its holdings in shares of NOV by 1,590.1% in 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 purchasing an additional 2,735 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in NOV during the second quarter worth approximately $78,000. Finally, Signaturefd LLC lifted its position in NOV by 67.6% during the second quarter. Signaturefd LLC now owns 4,443 shares of the oil and gas exploration company’s stock worth $84,000 after buying an additional 1,792 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Stock Up 1.3 %

Shares of NOV opened at $16.61 on Friday. 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 stock has a market capitalization of $6.46 billion, a PE ratio of 6.13, a P/E/G ratio of 0.95 and a beta of 1.66. The company’s 50-day simple moving average is $16.05 and its 200-day simple moving average is $17.43. NOV Inc. has a 1 year low of $14.98 and a 1 year high of $21.23.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders 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 annualized dividend and a yield of 1.81%. NOV’s dividend payout ratio is presently 11.07%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Citigroup downgraded NOV from a “buy” rating to a “neutral” rating and cut their target price for the stock from $21.00 to $18.00 in a research note on Monday, November 11th. Morgan Stanley decreased 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. Wells Fargo & Company cut their price target on shares of NOV from $16.00 to $15.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Bank of America decreased their price objective on NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, TD Cowen cut their target price on NOV from $28.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NOV currently has a consensus rating of “Hold” and an average target price of $21.64.

Insiders Place Their Bets

In related news, Director David D. Harrison sold 1,784 shares of NOV 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 transaction, the director now directly owns 110,951 shares in the company, valued at approximately $1,786,311.10. This trade represents a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.