First Horizon Advisors Inc. Decreases Stock Position in NOV Inc. (NYSE:NOV)

First Horizon Advisors Inc. cut its position in NOV Inc. (NYSE:NOV) by 15.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 9,813 shares of the oil and gas exploration company’s stock after selling 1,799 shares during the quarter. First Horizon Advisors Inc.’s holdings in NOV were worth $134,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Securian Asset Management Inc. boosted its stake in shares of NOV by 6.4% in the third quarter. Securian Asset Management Inc. now owns 35,039 shares of the oil and gas exploration company’s stock valued at $459,000 after purchasing an additional 2,121 shares during the period. Swiss National Bank boosted its stake in shares of NOV by 0.9% in the third quarter. Swiss National Bank now owns 863,000 shares of the oil and gas exploration company’s stock valued at $11,314,000 after purchasing an additional 7,300 shares during the period. Duality Advisers LP boosted its stake in shares of NOV by 18.0% in the third quarter. Duality Advisers LP now owns 329,764 shares of the oil and gas exploration company’s stock valued at $4,323,000 after purchasing an additional 50,216 shares during the period. Moors & Cabot Inc. boosted its stake in NOV by 65.3% during the 3rd quarter. Moors & Cabot Inc. now owns 34,000 shares of the oil and gas exploration company’s stock valued at $36,000 after acquiring an additional 13,428 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in NOV by 2.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 81,250 shares of the oil and gas exploration company’s stock valued at $1,065,000 after acquiring an additional 1,941 shares during the last quarter. Institutional investors and hedge funds own 93.32% of the company’s stock.

In other news, Director Eric L. Mattson sold 8,157 shares of NOV stock in a transaction that occurred on Thursday, October 28th. The shares were sold at an average price of $14.53, for a total value of $118,521.21. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.39% of the company’s stock.

A number of research analysts have commented on NOV shares. Griffin Securities reiterated a “hold” rating on shares of NOV in a research note on Sunday, October 31st. JPMorgan Chase & Co. upgraded shares of NOV from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $15.00 to $17.00 in a research report on Tuesday, December 14th. Wells Fargo & Company initiated coverage on shares of NOV in a research report on Sunday, September 26th. They issued a “sell” rating and a $12.00 price target on the stock. Finally, Morgan Stanley reduced their price target on shares of NOV from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Monday, October 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $16.56.

NOV stock opened at $16.52 on Friday. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of -11.39 and a beta of 2.23. The company has a current ratio of 2.67, a quick ratio of 1.95 and a debt-to-equity ratio of 0.34. The company’s 50-day moving average price is $13.59 and its two-hundred day moving average price is $13.74. NOV Inc. has a 52 week low of $11.46 and a 52 week high of $18.02.

NOV (NYSE:NOV) last announced its quarterly earnings data on Tuesday, October 26th. The oil and gas exploration company reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.03). The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.42 billion. NOV had a negative return on equity of 6.25% and a negative net margin of 10.44%. Research analysts expect that NOV Inc. will post -0.54 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 17th. Stockholders of record on Friday, December 3rd were paid a $0.05 dividend. The ex-dividend date was Thursday, December 2nd. This represents a $0.20 annualized dividend and a dividend yield of 1.21%. NOV’s dividend payout ratio is currently -13.79%.

NOV Profile

NOV, Inc provides equipment and technology to the upstream oil and gas industry. It operates through the following segments: Rig Technologies, Wellbore Technologies, and Completion and Production Solutions. The Rig Technologies segment monitors its capital equipment backlog to plan its business. The Wellbore Technologies segment designs, manufactures, rents, and sells a variety of equipment and technologies used to perform drilling operations and offers services that optimize their performance.

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Institutional Ownership by Quarter for NOV (NYSE:NOV)

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