US Bancorp DE Sells 6,285 Shares of NOV Inc. (NYSE:NOV)

US Bancorp DE decreased its position in shares of NOV Inc. (NYSE:NOV) by 25.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,877 shares of the oil and gas exploration company’s stock after selling 6,285 shares during the period. US Bancorp DE’s holdings in NOV were worth $301,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Boston Partners bought a new position in shares of NOV in the first quarter worth $119,686,000. Bank of New York Mellon Corp increased its position in shares of NOV by 67.2% in the second 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 during the period. Dimensional Fund Advisors LP increased its position 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 period. AQR Capital Management LLC increased its position in shares of NOV by 232.6% in the second quarter. AQR Capital Management LLC now owns 4,888,891 shares of the oil and gas exploration company’s stock worth $92,938,000 after purchasing an additional 3,418,885 shares during the period. Finally, Deprince Race & Zollo Inc. increased its position in shares of NOV by 1,194.1% in the second quarter. Deprince Race & Zollo Inc. now owns 1,706,017 shares of the oil and gas exploration company’s stock worth $32,431,000 after purchasing an additional 1,574,188 shares during the period. Institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Susquehanna reduced their price objective on NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a research note on Monday, October 28th. Wells Fargo & Company reduced their price objective on NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. TD Cowen reduced their price objective on NOV from $28.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 price target on shares of NOV in a research note on Monday, July 29th. Finally, Stifel Nicolaus cut their price target on NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $21.64.

NOV Price Performance

NOV stock opened at $16.24 on Thursday. The firm has a market cap of $6.32 billion, a P/E ratio of 5.99, a P/E/G ratio of 0.96 and a beta of 1.66. The stock’s 50 day moving average is $16.03 and its 200 day moving average is $17.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. NOV Inc. has a one year low of $14.98 and a one year high of $21.23.

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.