Blue Trust Inc. Has $94,000 Stock Holdings in NOV Inc. (NYSE:NOV)

Blue Trust Inc. increased its position in shares of NOV Inc. (NYSE:NOV) by 851.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,859 shares of the oil and gas exploration company’s stock after buying an additional 5,243 shares during the quarter. Blue Trust Inc.’s holdings in NOV were worth $94,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. grew its position in NOV by 10,701.6% during the third quarter. DiNuzzo Private Wealth Inc. now owns 6,913 shares of the oil and gas exploration company’s stock worth $110,000 after buying an additional 6,849 shares in the last quarter. nVerses Capital LLC acquired a new stake in NOV during the third quarter worth about $487,000. Diversified Trust Co acquired a new stake in NOV during the third quarter worth about $595,000. SG Americas Securities LLC lifted its stake in NOV by 34.0% during the third quarter. SG Americas Securities LLC now owns 376,197 shares of the oil and gas exploration company’s stock worth $6,008,000 after purchasing an additional 95,468 shares during the period. Finally, American National Bank & Trust bought a new position in NOV during the third quarter worth about $39,000. 93.27% of the stock is owned by institutional investors and hedge funds.

NOV Stock Performance

NOV stock opened at $15.35 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. The company has a 50 day moving average price of $16.40 and a 200 day moving average price of $17.76. NOV Inc. has a fifty-two week low of $14.98 and a fifty-two week high of $21.23. The stock has a market capitalization of $6.04 billion, a PE ratio of 5.66, a price-to-earnings-growth ratio of 0.91 and a beta of 1.67.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Friday, September 13th. NOV’s dividend payout ratio (DPR) is presently 11.07%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Wells Fargo & Company cut shares of NOV from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $20.00 to $16.00 in a research note on Wednesday, September 25th. Evercore ISI upgraded shares of NOV to a “strong-buy” rating in a research note on Friday, July 26th. Benchmark restated a “hold” rating on shares of NOV in a research note on Friday, July 26th. Finally, Citigroup cut their price target on shares of NOV from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, NOV has a consensus rating of “Moderate Buy” and a consensus price target of $21.93.

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.