David D. Harrison Sells 1,784 Shares of NOV Inc. (NYSE:NOV) Stock

NOV Inc. (NYSE:NOV) Director David D. Harrison sold 1,784 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 110,951 shares in the company, valued at $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 Securities & Exchange Commission, which can be accessed through this hyperlink.

NOV Stock Performance

NOV traded up $0.30 during midday trading on Thursday, reaching $16.56. The company’s stock had a trading volume of 1,526,954 shares, compared to its average volume of 3,700,434. The stock has a market cap of $6.44 billion, a P/E ratio of 6.00, a PEG ratio of 0.93 and a beta of 1.66. NOV Inc. has a twelve month low of $14.98 and a twelve month high of $21.23. The company has a fifty day simple moving average of $16.02 and a 200 day simple moving average of $17.46. The company has a current ratio of 2.57, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.30 annualized dividend and a yield of 1.81%. NOV’s dividend payout ratio is currently 11.07%.

Institutional Trading of NOV

Hedge funds have recently modified their holdings of the company. Rothschild Investment LLC acquired a new stake in NOV in the second quarter worth $28,000. Quarry LP bought a new position in shares of NOV during the 3rd quarter worth approximately $36,000. American National Bank & Trust bought a new stake in shares of NOV during the 3rd quarter worth about $39,000. International Assets Investment Management LLC grew its stake 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 acquiring an additional 2,735 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in NOV during the third quarter worth about $48,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on NOV shares. Morgan Stanley cut their target price on NOV from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Evercore ISI raised shares of NOV to a “strong-buy” rating in a research note on Friday, July 26th. Wells Fargo & Company lowered their price target on NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Benchmark reaffirmed a “hold” rating on shares of NOV in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. reduced their target price on shares of NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.64.

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.