NOV Inc. (NYSE:NOV) Shares Bought by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lifted its position in shares of NOV Inc. (NYSE:NOV) by 176.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 524,781 shares of the oil and gas exploration company’s stock after acquiring an additional 334,925 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in NOV were worth $8,381,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Boston Partners purchased a new stake in NOV during the first quarter worth $119,686,000. Bank of New York Mellon Corp boosted its position in shares of NOV by 67.2% in the 2nd 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 buying an additional 3,989,095 shares in the last quarter. Pzena Investment Management LLC grew its stake in NOV by 12.7% in the 1st quarter. Pzena Investment Management LLC now owns 35,072,648 shares of the oil and gas exploration company’s stock valued at $684,618,000 after acquiring an additional 3,946,504 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in NOV by 40.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,138,093 shares of the oil and gas exploration company’s stock valued at $230,743,000 after acquiring an additional 3,470,860 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in NOV by 232.6% during 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 acquiring an additional 3,418,885 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Stock Performance

Shares of NOV stock opened at $15.17 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.57. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 5.60, a price-to-earnings-growth ratio of 0.89 and a beta of 1.66. NOV Inc. has a one year low of $14.98 and a one year high of $21.23. The company has a 50 day moving average price of $16.26 and a 200 day moving average price of $17.70.

NOV Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.98%. NOV’s payout ratio is 11.07%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. TD Cowen dropped their price target on NOV from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Susquehanna reduced their price objective on NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a research report on Monday, October 28th. Bank of America decreased their price objective on NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, BMO Capital Markets cut their target price on shares of NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.93.

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.