NOV Inc. $NOV Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lowered its position in shares of NOV Inc. (NYSE:NOV) by 17.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,267,354 shares of the oil and gas exploration company’s stock after selling 682,446 shares during the quarter. Pacer Advisors Inc. owned approximately 0.88% of NOV worth $43,292,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of NOV. Canandaigua National Trust Co of Florida increased its holdings in shares of NOV by 114.0% during the 2nd quarter. Canandaigua National Trust Co of Florida now owns 77,394 shares of the oil and gas exploration company’s stock worth $962,000 after buying an additional 41,235 shares during the last quarter. Hsbc Holdings PLC raised its holdings in NOV by 111.3% in the second quarter. Hsbc Holdings PLC now owns 476,044 shares of the oil and gas exploration company’s stock valued at $6,006,000 after buying an additional 250,705 shares during the period. Canandaigua National Bank & Trust Co. grew its stake in NOV by 64.9% during the second quarter. Canandaigua National Bank & Trust Co. now owns 101,211 shares of the oil and gas exploration company’s stock worth $1,258,000 after buying an additional 39,848 shares during the period. Empowered Funds LLC increased its position in shares of NOV by 2,266.9% in the first quarter. Empowered Funds LLC now owns 509,555 shares of the oil and gas exploration company’s stock worth $7,755,000 after acquiring an additional 488,027 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in shares of NOV by 18.8% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 804,961 shares of the oil and gas exploration company’s stock valued at $10,006,000 after acquiring an additional 127,433 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Stock Performance

Shares of NOV opened at $15.63 on Friday. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 5.18 and a beta of 0.97. The company has a quick ratio of 1.71, a current ratio of 2.55 and a debt-to-equity ratio of 0.26. The business’s 50 day moving average is $15.26 and its two-hundred day moving average is $13.80. NOV Inc. has a 52-week low of $10.84 and a 52-week high of $16.96.

NOV (NYSE:NOV) last issued its quarterly earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). NOV had a return on equity of 5.89% and a net margin of 4.36%.During the same quarter in the prior year, the business posted $0.33 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. Analysts forecast 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 was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, December 5th. NOV’s payout ratio is currently 30.00%.

Insider Activity

In other news, Director Christian S. Kendall acquired 70,000 shares of NOV stock in a transaction that occurred on Friday, November 21st. The shares were purchased at an average cost of $14.46 per share, for a total transaction of $1,012,200.00. Following the completion of the purchase, the director directly owned 85,949 shares of the company’s stock, valued at $1,242,822.54. This trade represents a 438.90% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley set a $16.00 price target on shares of NOV in a research report on Monday, December 15th. Barclays upped their target price on NOV from $13.00 to $15.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 17th. The Goldman Sachs Group boosted their price target on NOV from $12.00 to $14.00 and gave the stock a “sell” rating in a research report on Wednesday, November 5th. Raymond James Financial restated an “outperform” rating and issued a $17.00 price target on shares of NOV in a report on Tuesday, October 28th. Finally, Citigroup lifted their price objective on shares of NOV from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $15.83.

NOV Profile

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.