Nordea Investment Management AB Purchases Shares of 171,493 NOV Inc. (NYSE:NOV)

Nordea Investment Management AB purchased a new stake in NOV Inc. (NYSE:NOVFree Report) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 171,493 shares of the oil and gas exploration company’s stock, valued at approximately $2,514,000.

A number of other large investors also recently bought and sold shares of NOV. Quarry LP acquired a new position in shares of NOV during the 3rd quarter worth approximately $36,000. American National Bank & Trust acquired a new position in shares of NOV during the 3rd quarter worth approximately $39,000. International Assets Investment Management LLC raised its stake in shares of NOV by 1,590.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock worth $46,000 after buying an additional 2,735 shares during the period. Brooklyn Investment Group acquired a new position in shares of NOV during the 3rd quarter worth approximately $48,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of NOV during the second quarter worth approximately $78,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director David D. Harrison sold 1,784 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total value of $28,722.40. Following the completion of the sale, the director now owns 110,951 shares in the company, valued at $1,786,311.10. This 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 link. 1.85% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Atb Cap Markets cut NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Seaport Res Ptn lowered NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Citigroup lowered NOV from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $21.00 to $18.00 in a report on Monday, November 11th. Morgan Stanley decreased their target price on NOV from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Finally, ATB Capital reiterated a “sector perform” rating and issued a $19.00 target price on shares of NOV in a research note on Tuesday, December 10th. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.14.

Check Out Our Latest Stock Report on NOV

NOV Trading Down 0.7 %

NOV stock opened at $14.52 on Friday. NOV Inc. has a 52 week low of $13.94 and a 52 week high of $21.23. 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 firm has a market capitalization of $5.65 billion, a PE ratio of 5.36, a PEG ratio of 0.87 and a beta of 1.66. The business’s 50-day simple moving average is $15.37 and its 200-day simple moving average is $16.62.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Friday, December 6th. NOV’s payout ratio is currently 11.07%.

NOV Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding NOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NOV Inc. (NYSE:NOVFree Report).

Institutional Ownership by Quarter for NOV (NYSE:NOV)

Receive News & Ratings for NOV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NOV and related companies with MarketBeat.com's FREE daily email newsletter.