NOV Inc. $NOV Position Reduced by Ethic Inc.

Ethic Inc. trimmed its position in NOV Inc. (NYSE:NOV) by 27.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,976 shares of the oil and gas exploration company’s stock after selling 36,408 shares during the quarter. Ethic Inc.’s holdings in NOV were worth $1,258,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NOV. Canandaigua National Trust Co of Florida boosted its stake in NOV by 114.0% in the 2nd quarter. Canandaigua National Trust Co of Florida now owns 77,394 shares of the oil and gas exploration company’s stock worth $962,000 after purchasing an additional 41,235 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of NOV by 111.3% in the second quarter. Hsbc Holdings PLC now owns 476,044 shares of the oil and gas exploration company’s stock valued at $6,006,000 after purchasing an additional 250,705 shares in the last quarter. Canandaigua National Bank & Trust Co. boosted its position in shares of NOV by 64.9% in the second quarter. Canandaigua National Bank & Trust Co. now owns 101,211 shares of the oil and gas exploration company’s stock worth $1,258,000 after buying an additional 39,848 shares during the period. Empowered Funds LLC grew its holdings in shares of NOV by 2,266.9% during the first quarter. Empowered Funds LLC now owns 509,555 shares of the oil and gas exploration company’s stock valued at $7,755,000 after buying an additional 488,027 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in NOV by 18.8% during the second quarter. Harbor Capital Advisors Inc. now owns 804,961 shares of the oil and gas exploration company’s stock valued at $10,006,000 after buying an additional 127,433 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of NOV in a research report on Monday. Royal Bank Of Canada raised their price target on shares of NOV from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Citigroup upped their price objective on shares of NOV from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Morgan Stanley set a $16.00 target price on shares of NOV in a research note on Monday, December 15th. Finally, Zacks Research raised shares of NOV from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, NOV presently has an average rating of “Hold” and a consensus target price of $15.83.

NOV Price Performance

Shares of NOV opened at $16.42 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.71 and a current ratio of 2.55. The firm has a market cap of $5.99 billion, a PE ratio of 16.42, a PEG ratio of 4.17 and a beta of 0.97. NOV Inc. has a twelve month low of $10.84 and a twelve month high of $16.96. The firm’s 50 day moving average price is $15.50 and its 200 day moving average price is $13.88.

NOV (NYSE:NOV) last announced its quarterly earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13). NOV had a return on equity of 5.89% and a net margin of 4.36%.During the same quarter last year, the business posted $0.33 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. As a group, research analysts expect that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a $0.075 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.8%. NOV’s payout ratio is currently 30.00%.

Insider Activity

In related news, Director Christian S. Kendall purchased 70,000 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was bought at an average price of $14.46 per share, for a total transaction of $1,012,200.00. Following the purchase, the director owned 85,949 shares in the company, valued at $1,242,822.54. The trade was a 438.90% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.08% of the company’s stock.

NOV Profile

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.