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Manufacturers’ Life Insurance Company reduced its holding in NOV Inc. (NYSE: NOV – Get Rating) by 3.2% in the third quarter, according to its latest Form 13F filing with the Securities and Exchange Commission. The company owned 319,115 shares in oil and gas exploration companies after selling 10,438 shares during the quarter. Manufacturers’ Life Insurance Company owned his 0.08% of his NOV worth $5,163,000 at the end of the most recent quarter.
Many other institutional investors and hedge funds have also increased or decreased their stakes in NOV. JPMorgan Chase & Co. increased its stake in NOV by 16.6% in the first quarter. JPMorgan Chase & Company now owns 762,999 shares of oil and gas exploration company stock valued at $14,961,000 after acquiring an additional 108,845 shares during this period. Raymond James & Associates increased his NOV stake by 15.4% in the first quarter. Raymond James & Associates now owns 175,860 shares in oil and gas exploration companies worth $3,449,000 after he purchased an additional 23,430 shares during the previous quarter. Raymond James Financial Services Advisors Inc. increased his NOV stake by 8.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 13,935 shares of oil and gas exploration company valued at $273,000 after purchasing an additional 1,079 shares last quarter. US Bancorp DE increased its stake in NOV by 2.0% in the first quarter. US Bancorp DE now owns 39,557 shares of oil and gas exploration company stock valued at $777,000 after purchasing an additional 788 shares during the previous quarter. Finally, HighTower Advisors LLC increased NOV’s stake by 7.8% in the first quarter. HighTower Advisors LLC now owns 40,976 shares of the oil and gas exploration company, valued at $801,000, after purchasing an additional 2,962 shares during the previous quarter. Institutional investors own 94.18% of the company’s shares.
NOV trading down 0.9%
NYSE NOV shares opened at $23.74 on Tuesday. The company has a 50-day simple moving average of $21.70 and a 200-day simple moving average of $19.68. NOV Inc. hit a 52-week low of $13.98 and a 52-week high of $24.83. The company has a market cap of $9.33 billion, a P/E ratio of 791.33 and a beta of 1.84. The company has a debt to equity ratio of 0.35, a current ratio of 2.30 and a quick ratio of 1.52.
Notice of November Dividend
The company recently announced its quarterly dividend, which was paid out on Friday, December 23rd. A dividend of $0.05 was issued to investors of record on Friday, December 9th. The ex-dividend date for this dividend was Thursday, December 8. This represents his $0.20 dividend and his 0.84% yield on an annualized basis. NOV’s payout ratio is currently 666.67%.
Analyst upgrades and downgrades
NOV has been the topic of several research analyst reports. Wells Fargo & Company upgraded NOV’s stock from an “underweight” rating to an “equal weight” rating and raised its price target from $16.00 to $25.00 in its research notes on Monday, November 7. We hypothesized that the benchmark covered NOV’s stock in the research note on Thursday, January 19th. They set a ‘buy’ rating and a $28.00 price target. Citigroup upgraded NOV’s stock from a ‘neutral’ rating to a ‘buy’ rating and set a price target of $25.00 in a research note on Wednesday, October 12. Susquehanna lowered its price target on NOV shares from $27.00 to $25.00 in its research notes on Monday, October 31st. Finally, in his Wednesday, January 4 research notes, Morgan Stanley upgraded NOV’s stock from an “equal-weighted” rating to an “overweight” rating, raising the company’s price target from $21.00 to $24.00. raised to dollars. Two research analysts issued sell ratings, five issued hold ratings, and seven gave buy ratings on the company’s stock. Data from MarketBeat.com shows NOV’s current consensus rating is ‘Hold’ with a consensus target price of $23.67.
insider bet
In other NOV news, CAO Christy Lynn Novak sold 4,575 shares in trading on Friday, November 4th. The shares sold at an average price of $23.17, giving her a total of $106,002.75. After the sale, the Chief Accounting Officer now directly owns 64,086 shares in the company, valued at $1,484,872.62. The deal is disclosed in documents filed with the SEC and available on her website. A company insider owns her 1.59% of the company’s shares.
About the knob
(get rating)
NOV, Inc provides equipment and technology to the upstream oil and gas industry. It operates through the Rig Technologies, Wellbore Technologies, and Finished and Production Solutions segments. The Rig Technologies segment monitors its backlog of capital equipment to plan its business. The Welbore Technologies segment designs, manufactures, rents and sells various equipment and technologies used to perform drilling operations and provides services to optimize their performance.
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This instant news alert was generated by Narrative Science Technology and MarketBeat financial data to provide our readers with the fastest and most accurate reporting. This article was reviewed by MarketBeat’s editorial team prior to publication. Send any questions or comments about this story to contact@marketbeat.com.
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