Moors & Cabot Inc. Buys 13,428 Shares of NOV Inc. (NYSE:NOV)

Moors & Cabot Inc. raised its holdings in shares of NOV Inc. (NYSE:NOV) by 65.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,000 shares of the oil and gas exploration company’s stock after acquiring an additional 13,428 shares during the quarter. Moors & Cabot Inc.’s holdings in NOV were worth $36,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the company. Shell Asset Management Co. boosted its stake in shares of NOV by 5.7% during the 2nd quarter. Shell Asset Management Co. now owns 18,741 shares of the oil and gas exploration company’s stock worth $287,000 after acquiring an additional 1,010 shares during the last quarter. M&T Bank Corp boosted its stake in shares of NOV by 4.9% during the 3rd quarter. M&T Bank Corp now owns 27,108 shares of the oil and gas exploration company’s stock worth $355,000 after acquiring an additional 1,265 shares during the last quarter. M&G Investment Management Ltd. boosted its stake in shares of NOV by 0.3% during the 2nd quarter. M&G Investment Management Ltd. now owns 417,361 shares of the oil and gas exploration company’s stock worth $6,260,000 after acquiring an additional 1,405 shares during the last quarter. Kestra Advisory Services LLC boosted its stake in shares of NOV by 5.6% during the 3rd quarter. Kestra Advisory Services LLC now owns 30,955 shares of the oil and gas exploration company’s stock worth $406,000 after acquiring an additional 1,642 shares during the last quarter. Finally, CWM Advisors LLC boosted its stake in shares of NOV by 2.6% during the 2nd quarter. CWM Advisors LLC now owns 70,812 shares of the oil and gas exploration company’s stock worth $1,085,000 after acquiring an additional 1,762 shares during the last quarter. Institutional investors and hedge funds own 93.32% of the company’s stock.

In other news, Director Eric L. Mattson sold 8,157 shares of the business’s stock in a transaction dated Thursday, October 28th. The shares were sold at an average price of $14.53, for a total value of $118,521.21. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.39% of the company’s stock.

Shares of NOV stock opened at $16.52 on Friday. The stock has a market cap of $6.45 billion, a P/E ratio of -11.39 and a beta of 2.23. NOV Inc. has a 52 week low of $11.46 and a 52 week high of $18.02. The company has a quick ratio of 1.95, a current ratio of 2.67 and a debt-to-equity ratio of 0.34. The company’s fifty day simple moving average is $13.59 and its two-hundred day simple moving average is $13.74.

NOV (NYSE:NOV) last announced its quarterly earnings results on Tuesday, October 26th. The oil and gas exploration company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). NOV had a negative return on equity of 6.25% and a negative net margin of 10.44%. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.42 billion. On average, analysts anticipate that NOV Inc. will post -0.54 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 17th. Stockholders of record on Friday, December 3rd were issued a $0.05 dividend. The ex-dividend date was Thursday, December 2nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.21%. NOV’s dividend payout ratio (DPR) is presently -13.79%.

Several brokerages have recently weighed in on NOV. JPMorgan Chase & Co. upgraded shares of NOV from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $15.00 to $17.00 in a research note on Tuesday, December 14th. Wells Fargo & Company started coverage on shares of NOV in a research note on Sunday, September 26th. They set a “sell” rating and a $12.00 target price on the stock. Morgan Stanley lowered their target price on shares of NOV from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Monday, October 11th. Finally, Griffin Securities restated a “hold” rating on shares of NOV in a research note on Sunday, October 31st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $16.56.

About NOV

NOV, Inc provides equipment and technology to the upstream oil and gas industry. It operates through the following segments: Rig Technologies, Wellbore Technologies, and Completion and Production Solutions. The Rig Technologies segment monitors its capital equipment backlog to plan its business. The Wellbore Technologies segment designs, manufactures, rents, and sells a variety of equipment and technologies used to perform drilling operations and offers services that optimize their performance.

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Institutional Ownership by Quarter for NOV (NYSE:NOV)

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