36,466 Shares in NOV Inc. (NYSE:NOV) Bought by Bank of Nova Scotia

Bank of Nova Scotia bought a new stake in NOV Inc. (NYSE:NOVGet Rating) during the second quarter, Holdings Channel.com reports. The firm bought 36,466 shares of the oil and gas exploration company’s stock, valued at approximately $617,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Washington Trust Advisors Inc. acquired a new position in shares of NOV during the second quarter valued at $25,000. Covestor Ltd boosted its position in NOV by 94.4% during the 1st quarter. Covestor Ltd now owns 1,287 shares of the oil and gas exploration company’s stock worth $25,000 after acquiring an additional 625 shares during the period. Quent Capital LLC boosted its position in NOV by 1,360.4% during the 1st quarter. Quent Capital LLC now owns 1,329 shares of the oil and gas exploration company’s stock worth $26,000 after acquiring an additional 1,238 shares during the period. Citizens National Bank Trust Department acquired a new stake in NOV during the 2nd quarter worth about $48,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of NOV by 760.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 7,081 shares of the oil and gas exploration company’s stock valued at $119,000 after buying an additional 6,258 shares during the last quarter. 97.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NOV has been the subject of several research reports. Susquehanna reduced their price target on NOV from $27.00 to $25.00 in a report on Monday, October 31st. Piper Sandler boosted their target price on NOV to $22.00 in a report on Tuesday, November 1st. Barclays boosted their target price on NOV from $22.00 to $25.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 1st. Morgan Stanley boosted their target price on NOV from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, October 31st. Finally, StockNews.com initiated coverage on NOV in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $22.62.

NOV Price Performance

NOV stock opened at $22.65 on Monday. The stock’s fifty day moving average price is $19.61 and its two-hundred day moving average price is $18.32. NOV Inc. has a one year low of $11.46 and a one year high of $24.25. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.30 and a quick ratio of 1.52. The firm has a market cap of $8.90 billion, a PE ratio of 755.25 and a beta of 1.87.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 23rd. Stockholders of record on Friday, December 9th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, December 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.88%. NOV’s payout ratio is 666.89%.

Insider Activity

In related news, Director Greg L. Armstrong sold 10,381 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $18.99, for a total transaction of $197,135.19. Following the sale, the director now owns 82,724 shares of the company’s stock, valued at approximately $1,570,928.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other NOV news, Director Greg L. Armstrong sold 10,381 shares of NOV stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $18.99, for a total transaction of $197,135.19. Following the transaction, the director now directly owns 82,724 shares of the company’s stock, valued at approximately $1,570,928.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christy Lynn Novak sold 4,575 shares of NOV stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $23.17, for a total value of $106,002.75. Following the transaction, the chief accounting officer now directly owns 64,086 shares in the company, valued at $1,484,872.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,456 shares of company stock worth $360,063. Insiders own 1.59% of the company’s stock.

NOV Company Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for NOV (NYSE:NOV)

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