NOV Inc. (NYSE:NOV - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $14.87 and last traded at $14.88, with a volume of 459901 shares trading hands. The stock had previously closed at $15.09.
Several equities research analysts have recently issued reports on NOV shares. Susquehanna reduced their price objective on shares of NOV from $22.00 to $21.00 and set a "positive" rating on the stock in a research report on Monday, October 28th. Morgan Stanley reduced their price target 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. JPMorgan Chase & Co. reduced their target price on NOV from $23.00 to $22.00 and set an "overweight" rating on the stock in a report on Thursday, October 3rd. Wells Fargo & Company reduced their target price on NOV from $16.00 to $15.00 and set an "underweight" rating on the stock in a report on Monday, November 4th. Finally, BMO Capital Markets reduced their price objective on NOV from $22.00 to $20.00 and set a "market perform" rating on the stock in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $20.64.
Check Out Our Latest Analysis on NOV
The company has a market cap of $5.84 billion, a PE ratio of 5.57, a PEG ratio of 0.89 and a beta of 1.66. 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 fifty day moving average of $15.87 and a 200-day moving average of $17.14.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, December 6th. NOV's payout ratio is 11.07%.
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 sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 1.85% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of NOV. Wealth Enhancement Advisory Services LLC grew its position in NOV by 70.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 17,631 shares of the oil and gas exploration company's stock worth $335,000 after purchasing an additional 7,303 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of NOV by 7.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 18,960 shares of the oil and gas exploration company's stock valued at $360,000 after acquiring an additional 1,261 shares during the period. Stanley Laman Group Ltd. purchased a new position in NOV in the 2nd quarter worth $4,031,000. TCW Group Inc. lifted its position in NOV by 59.6% during the 2nd quarter. TCW Group Inc. now owns 112,201 shares of the oil and gas exploration company's stock worth $2,133,000 after acquiring an additional 41,890 shares during the period. Finally, Raymond James & Associates grew its stake in NOV by 3.1% during the 2nd quarter. Raymond James & Associates now owns 248,230 shares of the oil and gas exploration company's stock valued at $4,719,000 after purchasing an additional 7,506 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.
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.
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