Harbor Capital Advisors Inc. Increases Position in NOV Inc. (NYSE:NOV)

Harbor Capital Advisors Inc. increased its position in NOV Inc. (NYSE:NOV) by 10.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 581,446 shares of the oil and gas exploration company’s stock after acquiring an additional 56,665 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.15% of NOV worth $8,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of NOV in the third quarter worth about $36,000. American National Bank & Trust purchased a new position in NOV during the 3rd quarter worth approximately $39,000. International Assets Investment Management LLC lifted its stake in NOV by 1,590.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 2,735 shares during the period. Brooklyn Investment Group purchased a new stake in shares of NOV in the 3rd quarter valued at $48,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of NOV in the second quarter worth $78,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Buying and Selling

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

NOV Price Performance

NYSE NOV traded down $0.11 during mid-day trading on Friday, hitting $14.51. The stock had a trading volume of 1,088,539 shares, compared to its average volume of 2,272,076. The firm’s 50 day moving average is $15.38 and its 200 day moving average is $16.67. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of 5.35, a PEG ratio of 0.87 and a beta of 1.66. NOV Inc. has a twelve month low of $13.94 and a twelve month high of $21.23.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Friday, December 6th. NOV’s dividend payout ratio is currently 11.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NOV shares. Atb Cap Markets lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Citigroup downgraded NOV from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $21.00 to $18.00 in a research note on Monday, November 11th. 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. Bank of America lowered their price objective on NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Wells Fargo & Company cut their target price on shares of NOV from $16.00 to $15.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $20.14.

About NOV

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.