NOV (NYSE:NOV – Get Free Report) was downgraded by Seaport Res Ptn from a “strong-buy” rating to a “hold” rating in a research report issued on Sunday,Zacks.com reports.
Several other research firms have also issued reports on NOV. Bank of America dropped their price target on NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Citigroup cut shares of NOV from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $21.00 to $18.00 in a report on Monday, November 11th. TD Cowen decreased their price target on shares of NOV from $28.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 28th. Piper Sandler initiated coverage on shares of NOV in a research note on Thursday, December 19th. They set a “neutral” rating and a $17.00 price objective on the stock. Finally, Wells Fargo & Company decreased their target price on NOV from $16.00 to $15.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.14.
View Our Latest Stock Report on NOV
NOV Price Performance
Insiders Place Their Bets
In related news, Director David D. Harrison sold 1,784 shares of the business’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 transaction of $28,722.40. Following the sale, the director now owns 110,951 shares of the company’s stock, valued at $1,786,311.10. The trade was a 1.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.85% of the stock is owned by insiders.
Hedge Funds Weigh In On NOV
Hedge funds have recently modified their holdings of the company. Deprince Race & Zollo Inc. boosted its stake in NOV by 1,194.1% during the second quarter. Deprince Race & Zollo Inc. now owns 1,706,017 shares of the oil and gas exploration company’s stock valued at $32,431,000 after buying an additional 1,574,188 shares in the last quarter. WINTON GROUP Ltd grew its stake in shares of NOV by 1,866.3% in the 2nd quarter. WINTON GROUP Ltd now owns 841,078 shares of the oil and gas exploration company’s stock worth $15,989,000 after purchasing an additional 798,303 shares during the last quarter. Barclays PLC raised its holdings in shares of NOV by 120.1% in the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock worth $7,561,000 after purchasing an additional 258,392 shares in the last quarter. International Assets Investment Management LLC lifted its stake 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 during the last quarter. Finally, Bank of Montreal Can boosted its holdings in NOV by 519.1% during the third quarter. Bank of Montreal Can now owns 438,068 shares of the oil and gas exploration company’s stock worth $7,000,000 after buying an additional 367,308 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.
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.
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