NOV Inc. (NYSE:NOV) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in NOV Inc. (NYSE:NOV) by 9.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,993,229 shares of the oil and gas exploration company’s stock after selling 937,011 shares during the quarter. Bank of New York Mellon Corp’s holdings in NOV were worth $131,301,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of NOV. Pacer Advisors Inc. lifted its holdings in NOV by 12,344.0% in the 4th quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock valued at $179,718,000 after acquiring an additional 12,210,514 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in NOV by 22.3% in the 3rd quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock valued at $687,143,000 after acquiring an additional 7,851,220 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in NOV by 23.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company’s stock valued at $593,336,000 after acquiring an additional 6,963,660 shares during the last quarter. Weiss Asset Management LP acquired a new stake in NOV in the 3rd quarter valued at about $35,709,000. Finally, Greenhaven Associates Inc. lifted its holdings in NOV by 61.7% in the 4th quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock valued at $48,049,000 after acquiring an additional 1,255,666 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Citigroup downgraded shares of NOV from a “buy” rating to a “neutral” rating and cut their price target for the company from $21.00 to $18.00 in a report on Monday, November 11th. Wells Fargo & Company cut their price target on shares of NOV from $16.00 to $15.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Raymond James upped their price objective on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Seaport Res Ptn lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Finally, Royal Bank of Canada upped their price objective on shares of NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $19.60.

NOV Price Performance

Shares of NOV opened at $14.93 on Friday. The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of 9.27, a P/E/G ratio of 1.02 and a beta of 1.64. NOV Inc. has a fifty-two week low of $13.94 and a fifty-two week high of $21.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. The business’s 50-day moving average is $15.01 and its 200-day moving average is $15.79.

NOV (NYSE:NOV) last issued its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. Equities research analysts expect that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.075 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 2.01%. NOV’s dividend payout ratio is currently 18.63%.

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.