Harel Insurance Investments & Financial Services Ltd. Purchases New Shares in NOV Inc. (NYSE:NOV)

Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of NOV Inc. (NYSE:NOVFree Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,926 shares of the oil and gas exploration company’s stock, valued at approximately $253,000.

A number of other hedge funds have also bought and sold shares of NOV. JPMorgan Chase & Co. increased its position in NOV by 16.6% during the first quarter. JPMorgan Chase & Co. now owns 762,999 shares of the oil and gas exploration company’s stock valued at $14,961,000 after acquiring an additional 108,845 shares during the last quarter. Raymond James & Associates increased its position in NOV by 15.4% during the first quarter. Raymond James & Associates now owns 175,860 shares of the oil and gas exploration company’s stock valued at $3,449,000 after acquiring an additional 23,430 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in NOV by 8.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 13,935 shares of the oil and gas exploration company’s stock valued at $273,000 after acquiring an additional 1,079 shares during the last quarter. US Bancorp DE increased its position in NOV by 2.0% during the first quarter. US Bancorp DE now owns 39,557 shares of the oil and gas exploration company’s stock valued at $777,000 after acquiring an additional 788 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of NOV by 7.8% in the first quarter. HighTower Advisors LLC now owns 40,976 shares of the oil and gas exploration company’s stock worth $801,000 after purchasing an additional 2,962 shares during the last quarter. Institutional investors own 93.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NOV shares. Raymond James upped their price target on shares of NOV from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Monday, October 30th. ATB Capital set a $33.00 price target on shares of NOV and gave the stock an “outperform” rating in a report on Friday, December 22nd. Morgan Stanley upped their price target on shares of NOV from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Tuesday, October 17th. TD Cowen upped their price target on shares of NOV from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, December 12th. Finally, Wells Fargo & Company upped their price target on shares of NOV from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, NOV currently has a consensus rating of “Hold” and a consensus price target of $24.94.

Read Our Latest Stock Analysis on NOV

NOV Stock Performance

NOV stock opened at $19.98 on Friday. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 0.24 and a beta of 1.78. The firm has a 50-day simple moving average of $19.54 and a two-hundred day simple moving average of $19.66. NOV Inc. has a one year low of $14.05 and a one year high of $24.83. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.43 and a current ratio of 2.39.

NOV (NYSE:NOVGet Free Report) last announced its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.06). The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.13 billion. NOV had a net margin of 6.00% and a return on equity of 9.28%. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 earnings per share. On average, equities analysts forecast that NOV Inc. will post 1.41 EPS for the current fiscal year.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 8th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Thursday, December 7th. NOV’s dividend payout ratio is presently 15.87%.

NOV Profile

(Free Report)

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors worldwide. The company operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

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Institutional Ownership by Quarter for NOV (NYSE:NOV)

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