Rhumbline Advisers Lowers Position in NOV Inc. (NYSE:NOV)

Rhumbline Advisers decreased its stake in shares of NOV Inc. (NYSE:NOV) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,096,138 shares of the oil and gas exploration company’s stock after selling 4,589 shares during the period. Rhumbline Advisers owned about 0.28% of NOV worth $16,004,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. lifted its stake in NOV by 10.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 581,446 shares of the oil and gas exploration company’s stock valued at $8,489,000 after acquiring an additional 56,665 shares in the last quarter. Greenhaven Associates Inc. raised its holdings in shares of NOV by 61.7% in the fourth quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock valued at $48,049,000 after purchasing an additional 1,255,666 shares during the last quarter. Barclays PLC lifted its position in shares of NOV by 120.1% during the third quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock valued at $7,561,000 after purchasing an additional 258,392 shares in the last quarter. International Assets Investment Management LLC boosted 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 worth $46,000 after purchasing an additional 2,735 shares during the last quarter. Finally, Bank of Montreal Can grew its position in NOV by 519.1% in the 3rd quarter. Bank of Montreal Can now owns 438,068 shares of the oil and gas exploration company’s stock worth $7,000,000 after purchasing an additional 367,308 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on NOV shares. Wells Fargo & Company dropped their target price on shares of NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. 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 research report on Monday, November 11th. Stifel Nicolaus decreased their target price on NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Atb Cap Markets downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Evercore ISI restated an “in-line” rating and set a $18.00 price objective (down previously from $25.00) on shares of NOV in a report on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.60.

NOV Stock Down 2.2 %

NOV opened at $15.10 on Friday. NOV Inc. has a 12 month low of $13.94 and a 12 month high of $21.20. The company has a market cap of $5.75 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 1.01 and a beta of 1.64. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average of $14.95 and a 200 day moving average of $15.88.

NOV (NYSE:NOV) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. On average, sell-side analysts expect that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Friday, March 14th. NOV’s payout ratio is presently 18.63%.

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.