Loomis Sayles & Co. L P Sells 2,279 Shares of NOV Inc. (NYSE:NOV)

Loomis Sayles & Co. L P cut its stake in shares of NOV Inc. (NYSE:NOV) by 0.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,326,884 shares of the oil and gas exploration company’s stock after selling 2,279 shares during the period. Loomis Sayles & Co. L P owned about 0.34% of NOV worth $21,190,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Pzena Investment Management LLC boosted its holdings in shares of NOV by 22.3% in the third quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock worth $687,143,000 after buying an additional 7,851,220 shares during the last quarter. Dimensional Fund Advisors LP raised its position in NOV by 40.0% in the second quarter. Dimensional Fund Advisors LP now owns 12,138,093 shares of the oil and gas exploration company’s stock worth $230,743,000 after acquiring an additional 3,470,860 shares during the period. Bank of New York Mellon Corp grew its position in shares of NOV by 67.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 9,928,911 shares of the oil and gas exploration company’s stock valued at $188,749,000 after acquiring an additional 3,989,095 shares during the period. Boston Partners purchased a new stake in shares of NOV in the 1st quarter worth $119,686,000. Finally, AQR Capital Management LLC raised its holdings in NOV by 232.6% in the 2nd quarter. AQR Capital Management LLC now owns 4,888,891 shares of the oil and gas exploration company’s stock worth $92,938,000 after purchasing an additional 3,418,885 shares during the period. 93.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. JPMorgan Chase & Co. reduced their price target on NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. TD Cowen reduced 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. Stifel Nicolaus lowered their price target on shares of NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Citigroup cut shares of NOV from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $21.00 to $18.00 in a research note on Monday, November 11th. Finally, Barclays lowered their target price on shares of NOV from $17.00 to $16.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $21.64.

Insider Activity at NOV

In related news, Director David D. Harrison sold 1,784 shares of NOV stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the completion of the transaction, the director now owns 110,951 shares in the company, valued at approximately $1,786,311.10. This trade represents a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.85% of the stock is owned by insiders.

NOV Stock Performance

NYSE NOV opened at $16.00 on Wednesday. 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 Inc. has a 1-year low of $14.98 and a 1-year high of $21.23. The business has a 50 day simple moving average of $16.05 and a two-hundred day simple moving average of $17.40. The stock has a market capitalization of $6.23 billion, a PE ratio of 5.90, a P/E/G ratio of 0.96 and a beta of 1.66.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.88%. The ex-dividend date is Friday, December 6th. NOV’s dividend payout ratio is presently 11.07%.

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.