JPMorgan Chase & Co. Sells 333,199 Shares of NOV Inc. (NYSE:NOV)

JPMorgan Chase & Co. lessened its holdings in shares of NOV Inc. (NYSE:NOV) by 29.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 795,356 shares of the oil and gas exploration company’s stock after selling 333,199 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.20% of NOV worth $12,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of NOV. Quarry LP purchased a new position in NOV during the third quarter valued at $36,000. American National Bank & Trust purchased a new stake in NOV in the 3rd quarter worth approximately $39,000. International Assets Investment Management LLC raised its stake in 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 acquiring an additional 2,735 shares during the period. Brooklyn Investment Group purchased a new position in NOV during the third quarter valued at approximately $48,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in NOV during the second quarter valued at approximately $78,000. Institutional investors own 93.27% of the company’s stock.

Insiders Place Their Bets

In other NOV news, Director David D. Harrison sold 1,784 shares of NOV stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the transaction, the director now owns 110,951 shares in the company, valued at $1,786,311.10. The trade was a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.85% of the stock is owned by company insiders.

NOV Stock Down 0.7 %

Shares of NYSE NOV opened at $14.52 on Friday. The stock has a 50 day moving average price of $15.37 and a 200 day moving average price of $16.62. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of 5.36, a PEG ratio of 0.87 and a beta of 1.66. 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.

NOV Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.075 dividend. 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 (DPR) is presently 11.07%.

Analyst Ratings Changes

Several analysts have recently commented on NOV shares. Morgan Stanley decreased their price objective 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. Stifel Nicolaus lowered their price objective on NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. BMO Capital Markets cut their price objective on shares of NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. Barclays decreased their target price on NOV from $16.00 to $12.00 and set an “underweight” rating on the stock in a research report on Wednesday, December 18th. Finally, Piper Sandler initiated coverage on NOV in a research report on Thursday, December 19th. They issued a “neutral” rating and a $17.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.14.

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.