Principal Financial Group Inc. Sells 405,612 Shares of NOV Inc. (NYSE:NOV)

Principal Financial Group Inc. trimmed its position in shares of NOV Inc. (NYSE:NOV) by 30.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 911,410 shares of the oil and gas exploration company’s stock after selling 405,612 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of NOV worth $14,555,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NOV. Deprince Race & Zollo Inc. raised its stake in shares of NOV by 1,194.1% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,706,017 shares of the oil and gas exploration company’s stock valued at $32,431,000 after buying an additional 1,574,188 shares in the last quarter. WINTON GROUP Ltd raised its position in NOV by 1,866.3% in the second quarter. WINTON GROUP Ltd now owns 841,078 shares of the oil and gas exploration company’s stock worth $15,989,000 after purchasing an additional 798,303 shares in the last quarter. Barclays PLC boosted its holdings in NOV by 120.1% during the third quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock valued at $7,561,000 after purchasing an additional 258,392 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of 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 purchasing an additional 2,735 shares during the period. Finally, Bank of Montreal Can raised its holdings in shares of NOV by 519.1% in the 3rd quarter. Bank of Montreal Can now owns 438,068 shares of the oil and gas exploration company’s stock worth $7,000,000 after buying an additional 367,308 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Buying and Selling at NOV

In other news, Director David D. Harrison sold 1,784 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total transaction of $28,722.40. Following the completion of the transaction, the director now directly owns 110,951 shares in the company, valued at approximately $1,786,311.10. The trade was a 1.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.85% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. ATB Capital reaffirmed a “sector perform” rating and issued a $19.00 price target on shares of NOV in a research note on Tuesday, December 10th. Atb Cap Markets cut shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. 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 research report on Monday, September 16th. TD Cowen dropped their price objective on shares of NOV from $28.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 28th. Finally, Stifel Nicolaus reduced their target price on NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.14.

NOV Stock Performance

NOV stock opened at $14.47 on Friday. The company has a market cap of $5.63 billion, a PE ratio of 5.34, a PEG ratio of 0.87 and a beta of 1.66. The company has a current ratio of 2.57, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26. NOV Inc. has a 1 year low of $13.94 and a 1 year high of $21.23. The company’s 50-day moving average is $15.52 and its two-hundred day moving average is $16.87.

NOV Announces Dividend

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

About NOV

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.