UMB Bank n.a. Purchases 1,612 Shares of NOV Inc. (NYSE:NOV)

UMB Bank n.a. raised its position in shares of NOV Inc. (NYSE:NOV) by 222.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,337 shares of the oil and gas exploration company’s stock after purchasing an additional 1,612 shares during the quarter. UMB Bank n.a.’s holdings in NOV were worth $34,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Quarry LP purchased a new stake in NOV during the 3rd quarter valued at $36,000. American National Bank & Trust bought a new stake in NOV in the 3rd quarter worth about $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 position in shares of NOV during the third quarter valued at approximately $48,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in NOV during the second quarter valued at approximately $78,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

NOV Stock Down 0.2 %

Shares of NYSE NOV opened at $14.87 on Friday. The firm’s 50-day moving average price is $15.16 and its 200-day moving average price is $16.39. The company has a current ratio of 2.57, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26. NOV Inc. has a 12-month low of $13.94 and a 12-month high of $21.23. The stock has a market capitalization of $5.78 billion, a price-to-earnings ratio of 5.49, a P/E/G ratio of 0.95 and a beta of 1.66.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.075 per share. The ex-dividend date was Friday, December 6th. This represents a $0.30 annualized dividend and a yield of 2.02%. NOV’s payout ratio is presently 11.07%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NOV. Citigroup cut NOV from a “buy” rating to a “neutral” rating and lowered their price target for the company from $21.00 to $18.00 in a report on Monday, November 11th. BMO Capital Markets lowered their target price on NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Thursday, October 10th. Bank of America cut their price objective on NOV from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, October 14th. JPMorgan Chase & Co. dropped their price target on shares of NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Finally, ATB Capital reaffirmed a “sector perform” rating and issued a $19.00 target price on shares of NOV in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $20.00.

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.