Principal Financial Group Inc. Has $14.56 Million Stock Position in NOV Inc. (NYSE:NOV)

Principal Financial Group Inc. reduced its position in NOV Inc. (NYSE:NOV) by 30.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 911,410 shares of the oil and gas exploration company’s stock after selling 405,612 shares during the quarter. Principal Financial Group Inc.’s holdings in NOV were worth $14,555,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Boston Partners bought a new stake in NOV during the 1st quarter valued at $119,686,000. Bank of New York Mellon Corp increased its holdings in NOV by 67.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 9,928,911 shares of the oil and gas exploration company’s stock worth $188,749,000 after purchasing an additional 3,989,095 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of NOV by 40.0% in the second quarter. Dimensional Fund Advisors LP now owns 12,138,093 shares of the oil and gas exploration company’s stock worth $230,743,000 after purchasing an additional 3,470,860 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of NOV by 232.6% during the second quarter. AQR Capital Management LLC now owns 4,888,891 shares of the oil and gas exploration company’s stock valued at $92,938,000 after buying an additional 3,418,885 shares during the last quarter. Finally, Deprince Race & Zollo Inc. lifted its stake in NOV by 1,194.1% during the 2nd 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 acquiring an additional 1,574,188 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

NOV Price Performance

Shares of NYSE NOV opened at $15.96 on Friday. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of 5.89, a price-to-earnings-growth ratio of 0.94 and a beta of 1.66. The stock has a fifty day simple moving average of $16.02 and a two-hundred day simple moving average of $17.52. NOV Inc. has a 1-year low of $14.98 and a 1-year high of $21.23. The company has a current ratio of 2.57, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26.

NOV Announces Dividend

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

Analyst Ratings Changes

NOV has been the subject of several analyst reports. Stifel Nicolaus lowered their target price on shares of NOV from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, October 28th. Susquehanna decreased their price objective on shares of NOV from $22.00 to $21.00 and set a “positive” rating for the company in a research note on Monday, October 28th. Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 target price on shares of NOV in a research note on Monday, July 29th. BMO Capital Markets reduced their target price on NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. Finally, Benchmark reaffirmed a “hold” rating on shares of NOV in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight 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 company has a consensus rating of “Hold” and a consensus target price of $21.64.

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.