Bank of Montreal Can Grows Position in NOV Inc. (NYSE:NOV)

Bank of Montreal Can boosted its stake in shares of NOV Inc. (NYSE:NOV) by 519.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 438,068 shares of the oil and gas exploration company’s stock after buying an additional 367,308 shares during the period. Bank of Montreal Can’s holdings in NOV were worth $7,000,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Rothschild Investment LLC purchased a new stake in shares of NOV during the 2nd quarter valued at about $28,000. American National Bank & Trust purchased a new position in shares of NOV during the third quarter valued at approximately $39,000. International Assets Investment Management LLC grew its position in 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 last quarter. Mercer Global Advisors Inc. ADV purchased a new position in NOV in the 2nd quarter worth about $78,000. Finally, Signaturefd LLC grew its stake in NOV by 67.6% in the 2nd quarter. Signaturefd LLC now owns 4,443 shares of the oil and gas exploration company’s stock worth $84,000 after acquiring an additional 1,792 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NOV. TD Cowen decreased their price objective on NOV from $28.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 28th. BMO Capital Markets decreased their price objective on NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company cut their price objective on shares of NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Stifel Nicolaus reduced their target price on NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Finally, Morgan Stanley dropped their price objective on shares of NOV from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $21.64.

NOV Stock Up 1.5 %

Shares of NYSE:NOV opened at $16.27 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.57. The stock has a market capitalization of $6.33 billion, a P/E ratio of 5.92, a PEG ratio of 0.93 and a beta of 1.66. The stock has a 50-day simple moving average of $16.00 and a 200-day simple moving average of $17.32. NOV Inc. has a 1 year low of $14.98 and a 1 year high of $21.23.

NOV Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given 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 1.84%. NOV’s payout ratio is currently 11.07%.

Insider Activity

In other news, Director David D. Harrison sold 1,784 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total value of $28,722.40. Following the transaction, the director now directly owns 110,951 shares in the company, valued at approximately $1,786,311.10. This trade represents a 1.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.