Glenmede Trust Co. NA Buys Shares of 859,708 NOV Inc. (NYSE:NOV)

Glenmede Trust Co. NA purchased a new position in NOV Inc. (NYSE:NOV) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 859,708 shares of the oil and gas exploration company’s stock, valued at approximately $13,730,000. Glenmede Trust Co. NA owned about 0.22% of NOV as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stanley Laman Group Ltd. purchased a new position in NOV in the 2nd quarter valued at about $4,031,000. Deprince Race & Zollo Inc. lifted its stake in shares of NOV by 1,194.1% during the second quarter. Deprince Race & Zollo Inc. now owns 1,706,017 shares of the oil and gas exploration company’s stock valued at $32,431,000 after buying an additional 1,574,188 shares during the period. WINTON GROUP Ltd boosted its position in NOV by 1,866.3% during the second quarter. WINTON GROUP Ltd now owns 841,078 shares of the oil and gas exploration company’s stock worth $15,989,000 after acquiring an additional 798,303 shares during the last quarter. Canandaigua National Bank & Trust Co. purchased a new stake in NOV in the 2nd quarter worth approximately $1,100,000. Finally, Boston Partners acquired a new position in NOV in the 1st quarter valued at $119,686,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Stifel Nicolaus lowered their price objective on NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 28th. BMO Capital Markets lowered their price target on NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company cut their price objective on shares of NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. TD Cowen lowered their target price on shares of NOV from $28.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 28th. Finally, Susquehanna cut their price target on shares of NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a research note on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NOV currently has a consensus rating of “Hold” and a consensus price target of $21.64.

Insider Buying and Selling

In other news, Director David D. Harrison sold 1,784 shares of NOV stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total transaction of $28,722.40. Following the sale, the director now owns 110,951 shares in the company, valued at $1,786,311.10. This trade represents a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.85% of the stock is currently owned by corporate insiders.

NOV Trading Down 0.1 %

NYSE:NOV opened at $15.99 on Friday. The business’s 50-day moving average is $16.04 and its two-hundred day moving average is $17.37. The firm has a market capitalization of $6.22 billion, a PE ratio of 5.90, a price-to-earnings-growth ratio of 0.93 and a beta of 1.66. NOV Inc. has a 12 month low of $14.98 and a 12 month high of $21.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65.

NOV Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.30 annualized dividend and a dividend yield of 1.88%. NOV’s payout ratio is currently 11.07%.

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.