Canandaigua National Trust Co of Florida Sells 10,212 Shares of NOV Inc. (NYSE:NOV)

Canandaigua National Trust Co of Florida lessened its position in shares of NOV Inc. (NYSE:NOV) by 25.2% in the fourth quarter, Holdings Channel reports. The fund owned 30,340 shares of the oil and gas exploration company’s stock after selling 10,212 shares during the quarter. Canandaigua National Trust Co of Florida’s holdings in NOV were worth $443,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of NOV. Natixis Advisors LLC raised its position in NOV by 21.4% in the second quarter. Natixis Advisors LLC now owns 60,544 shares of the oil and gas exploration company’s stock worth $1,151,000 after acquiring an additional 10,652 shares during the period. Arizona State Retirement System grew its holdings in NOV by 1.9% during the second quarter. Arizona State Retirement System now owns 110,303 shares of the oil and gas exploration company’s stock valued at $2,097,000 after purchasing an additional 2,043 shares during the period. Wedbush Securities Inc. increased its holdings in NOV by 10.6% in the 2nd quarter. Wedbush Securities Inc. now owns 13,692 shares of the oil and gas exploration company’s stock worth $260,000 after acquiring an additional 1,317 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in NOV by 4.5% during the 2nd quarter. Texas Permanent School Fund Corp now owns 360,355 shares of the oil and gas exploration company’s stock worth $6,850,000 after acquiring an additional 15,594 shares during the period. Finally, SIR Capital Management L.P. lifted its holdings in NOV by 29.9% during the second quarter. SIR Capital Management L.P. now owns 654,000 shares of the oil and gas exploration company’s stock valued at $12,433,000 after purchasing an additional 150,400 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Bank of America decreased their price objective on shares of NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Citigroup cut NOV from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $21.00 to $18.00 in a report on Monday, November 11th. Susquehanna dropped their price objective on shares of NOV from $22.00 to $21.00 and set a “positive” rating for the company in a report on Monday, October 28th. 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 note on Monday, October 28th. Finally, Piper Sandler started coverage on shares of NOV in a research report on Thursday, December 19th. They set a “neutral” rating and a $17.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.14.

NOV Stock Performance

Shares of NYSE NOV remained flat at $14.78 during mid-day trading on Monday. The company had a trading volume of 2,972,295 shares, compared to its average volume of 2,436,507. The stock’s fifty day moving average price is $15.44 and its 200 day moving average price is $16.74. 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. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 5.45, a PEG ratio of 0.87 and a beta of 1.66.

NOV Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a $0.075 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.30 dividend on an annualized basis and a yield of 2.03%. NOV’s dividend payout ratio is currently 11.07%.

Insider Buying and Selling

In other news, Director David D. Harrison sold 1,784 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total value of $28,722.40. Following the sale, the director now directly owns 110,951 shares of the company’s stock, valued at $1,786,311.10. This represents a 1.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.85% of the stock is owned by corporate insiders.

NOV Company 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.