NOV (NYSE:NOV) Stock Rating Lowered by Seaport Res Ptn

Seaport Res Ptn cut shares of NOV (NYSE:NOV) from a strong-buy rating to a hold rating in a research report report published on Sunday,Zacks.com reports.

NOV has been the subject of several other reports. Atb Cap Markets cut shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. BMO Capital Markets lowered their price objective on shares of NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company reduced their target price on NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. TD Cowen decreased their target price on NOV from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, Bank of America dropped their price target on NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NOV presently has a consensus rating of “Hold” and an average target price of $20.14.

NOV Price Performance

NOV opened at $14.78 on Friday. The stock’s 50 day moving average price is $15.43 and its 200-day moving average price is $16.72. NOV has a 52-week low of $13.94 and a 52-week high of $21.23. The stock has a market capitalization of $5.75 billion, a PE ratio of 5.45, a price-to-earnings-growth ratio of 0.87 and a beta of 1.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.57.

NOV Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.075 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.30 annualized dividend and a yield of 2.03%. NOV’s payout ratio is 11.07%.

Insiders Place Their Bets

In other news, Director David D. Harrison sold 1,784 shares of NOV stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total value of $28,722.40. Following the completion of the sale, the director now directly owns 110,951 shares in the company, valued at $1,786,311.10. The trade was a 1.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.85% of the stock is owned by insiders.

Institutional Investors Weigh In On NOV

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOV. Truist Financial Corp raised its stake in NOV by 3.4% during the 2nd quarter. Truist Financial Corp now owns 29,729 shares of the oil and gas exploration company’s stock valued at $565,000 after buying an additional 991 shares during the last quarter. HM Payson & Co. increased its position in NOV by 2.1% during the third quarter. HM Payson & Co. now owns 49,000 shares of the oil and gas exploration company’s stock valued at $783,000 after acquiring an additional 1,000 shares during the last quarter. KBC Group NV lifted its holdings in NOV by 11.8% in the third quarter. KBC Group NV now owns 11,060 shares of the oil and gas exploration company’s stock valued at $177,000 after acquiring an additional 1,163 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in NOV by 2.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 51,567 shares of the oil and gas exploration company’s stock worth $980,000 after purchasing an additional 1,164 shares during the last quarter. Finally, Wedbush Securities Inc. grew its stake in shares of NOV by 10.6% during the 2nd quarter. Wedbush Securities Inc. now owns 13,692 shares of the oil and gas exploration company’s stock valued at $260,000 after purchasing an additional 1,317 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.