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 stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total transaction of $28,722.40. Following the completion of the transaction, the director now directly owns 110,951 shares of the company’s stock, valued at approximately $1,786,311.10. The trade was a 1.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

NOV Stock Up 1.6 %

NYSE:NOV traded up $0.27 during midday trading on Friday, reaching $16.67. 945,129 shares of the stock traded hands, compared to its average volume of 3,698,180. The business has a 50-day moving average of $16.03 and a two-hundred day moving average of $17.45. The stock has a market capitalization of $6.49 billion, a PE ratio of 6.08, a price-to-earnings-growth ratio of 0.93 and a beta of 1.66. NOV Inc. has a 12-month low of $14.98 and a 12-month high of $21.23. 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 business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.80%. NOV’s dividend payout ratio is currently 11.07%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NOV. JPMorgan Chase & Co. reduced their price objective on shares of NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Benchmark reissued a “hold” rating on shares of NOV in a research report on Friday, July 26th. Barclays reduced their price objective on shares of NOV from $17.00 to $16.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 price objective on shares of NOV in a research report on Monday, July 29th. Finally, Stifel Nicolaus reduced their price objective on shares of NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.64.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NOV. Rothschild Investment LLC acquired a new stake in shares of NOV in the second quarter worth $28,000. Quarry LP acquired a new stake in NOV during the third quarter valued at $36,000. American National Bank & Trust purchased a new position in NOV during the third quarter valued at $39,000. International Assets Investment Management LLC lifted its holdings 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 in the last quarter. Finally, Brooklyn Investment Group purchased a new position in NOV during the third quarter valued at $48,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Company 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.