NOV Inc. (NYSE:NOV) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its stake in NOV Inc. (NYSE:NOV) by 33.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 303,061 shares of the oil and gas exploration company’s stock after selling 150,999 shares during the period. Massachusetts Financial Services Co. MA owned 0.08% of NOV worth $4,840,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Landscape Capital Management L.L.C. acquired a new stake in shares of NOV in the third quarter worth $479,000. Pzena Investment Management LLC grew its position in NOV by 22.3% during the 3rd quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock worth $687,143,000 after purchasing an additional 7,851,220 shares during the period. Quest Partners LLC purchased a new position in shares of NOV during the 3rd quarter valued at about $96,000. KBC Group NV lifted its holdings in shares of NOV by 11.8% in the 3rd quarter. KBC Group NV now owns 11,060 shares of the oil and gas exploration company’s stock valued at $177,000 after buying an additional 1,163 shares during the period. Finally, MQS Management LLC acquired a new stake in NOV during the third quarter worth about $454,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Stock Down 1.5 %

Shares of NOV opened at $16.00 on Wednesday. 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 Inc. has a one year low of $14.98 and a one year high of $21.23. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of 5.90, a PEG ratio of 0.96 and a beta of 1.66. The stock has a 50 day moving average price of $16.05 and a 200 day moving average price of $17.40.

NOV Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Friday, December 6th. NOV’s payout ratio is 11.07%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. BMO Capital Markets decreased their price target on NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. decreased their price target on NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Stifel Nicolaus decreased their price target on NOV from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, October 28th. Citigroup downgraded NOV from a “buy” rating to a “neutral” rating and decreased their price target for the company from $21.00 to $18.00 in a report on Monday, November 11th. Finally, Susquehanna decreased their price target on NOV from $22.00 to $21.00 and set a “positive” rating for the company in a 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, NOV currently has a consensus rating of “Hold” and an average target price of $21.64.

Insider Buying and Selling

In other NOV news, Director David D. Harrison sold 1,784 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 110,951 shares in the company, valued at $1,786,311.10. This represents a 1.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.85% of the stock is owned by company insiders.

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.