Geode Capital Management LLC Sells 87,350 Shares of NOV Inc. (NYSE:NOV)

Geode Capital Management LLC lessened its holdings in shares of NOV Inc. (NYSE:NOV) by 1.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 6,395,641 shares of the oil and gas exploration company’s stock after selling 87,350 shares during the period. Geode Capital Management LLC owned 1.64% of NOV worth $102,166,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Rothschild Investment LLC bought a new stake in NOV in the second quarter valued at about $28,000. Quarry LP acquired a new position in shares of NOV during the 3rd quarter worth about $36,000. American National Bank & Trust bought a new stake in shares of NOV in the 3rd quarter valued at about $39,000. International Assets Investment Management LLC raised its position in shares of NOV by 1,590.1% in the 3rd 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 acquiring an additional 2,735 shares during the period. Finally, Brooklyn Investment Group bought a new position in NOV during the 3rd quarter worth approximately $48,000. Institutional investors own 93.27% of the company’s stock.

NOV Trading Down 2.5 %

NOV stock opened at $14.19 on Thursday. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of 5.24, a price-to-earnings-growth ratio of 0.87 and a beta of 1.66. The company has a fifty day moving average price of $15.74 and a two-hundred day moving average price of $17.02. NOV Inc. has a one year low of $14.09 and a one year high of $21.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.30 dividend on an annualized basis and a yield of 2.11%. NOV’s dividend payout ratio (DPR) is currently 11.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NOV shares. Citigroup lowered shares of NOV from a “buy” rating to a “neutral” rating and cut their target price for the stock from $21.00 to $18.00 in a report on Monday, November 11th. Susquehanna reduced their target price on NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a report on Monday, October 28th. Bank of America lowered their price target on NOV from $22.00 to $20.00 and set a “buy” rating for the company in a report on Monday, October 14th. TD Cowen decreased their price objective on NOV from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. dropped their target price on shares of NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.36.

Insider Buying and Selling at NOV

In other NOV news, Director David D. Harrison sold 1,784 shares of the stock in a transaction 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 transaction, the director now owns 110,951 shares in the company, valued at $1,786,311.10. This trade represents a 1.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.85% of the company’s stock.

NOV 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.