Thrivent Financial for Lutherans Sells 403,267 Shares of NOV Inc. (NYSE:NOV)

Thrivent Financial for Lutherans reduced its position in NOV Inc. (NYSE:NOV) by 5.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 7,423,925 shares of the oil and gas exploration company’s stock after selling 403,267 shares during the period. Thrivent Financial for Lutherans’ holdings in NOV were worth $118,560,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rothschild Investment LLC purchased a new stake in shares of NOV during the 2nd quarter worth approximately $28,000. American National Bank & Trust purchased a new stake in shares of NOV during the 3rd quarter valued at about $39,000. International Assets Investment Management LLC raised its position in NOV by 1,590.1% during 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 period. Mercer Global Advisors Inc. ADV purchased a new stake in NOV during the 2nd quarter valued at $78,000. Finally, Signaturefd LLC lifted its position in NOV by 67.6% in 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 during the last quarter. 93.27% of the stock is owned by institutional investors.

NOV Stock Performance

Shares of NOV stock opened at $15.97 on Friday. The company has a current ratio of 2.57, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26. The stock’s fifty day moving average price is $16.02 and its 200-day moving average price is $17.51. The firm has a market cap of $6.21 billion, a P/E ratio of 5.89, a P/E/G ratio of 0.92 and a beta of 1.66. NOV Inc. has a 12 month low of $14.98 and a 12 month high of $21.23.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.075 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.30 annualized dividend and a dividend yield of 1.88%. NOV’s dividend payout ratio is currently 11.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of NOV from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Stifel Nicolaus decreased their price objective on shares of NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Susquehanna cut their target price on NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a research note on Monday, October 28th. BMO Capital Markets reduced their price target on NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a report on Thursday, October 10th. Finally, Bank of America dropped their price objective on NOV from $22.00 to $20.00 and set a “buy” rating for the company in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $21.64.

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.