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 that occurred on Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the sale, the director now directly owns 110,951 shares of the company’s stock, valued at $1,786,311.10. This represents a 1.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NOV Stock Performance

NYSE:NOV traded up $0.30 on Thursday, hitting $16.56. The stock had a trading volume of 1,526,954 shares, compared to its average volume of 3,700,434. The business’s 50-day simple moving average is $16.02 and its two-hundred day simple moving average is $17.46. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 6.00, a price-to-earnings-growth ratio of 0.93 and a beta of 1.66. NOV Inc. has a 52-week low of $14.98 and a 52-week high of $21.23. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26.

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors 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 dividend on an annualized basis and a dividend yield of 1.81%. NOV’s dividend payout ratio (DPR) is presently 11.07%.

Analyst Ratings Changes

NOV has been the subject of several recent research reports. TD Cowen decreased their target price on shares of NOV from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Citigroup cut NOV from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $21.00 to $18.00 in a report on Monday, November 11th. Bank of America decreased their target price on shares of NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Benchmark reiterated a “hold” rating on shares of NOV in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. dropped 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 research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $21.64.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NOV. Barclays PLC boosted its position in NOV by 120.1% during the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock valued at $7,561,000 after acquiring an additional 258,392 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of NOV in the third quarter valued at about $1,713,000. XTX Topco Ltd purchased a new stake in shares of NOV in the third quarter valued at approximately $955,000. Wolverine Trading LLC grew its holdings in shares of NOV by 29.1% during the 3rd quarter. Wolverine Trading LLC now owns 17,688 shares of the oil and gas exploration company’s stock worth $283,000 after purchasing an additional 3,988 shares during the period. Finally, Weiss Asset Management LP purchased a new stake in NOV during the 3rd quarter worth approximately $35,709,000. 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.