NOV Inc. (NYSE:NOV) Shares Acquired by Moors & Cabot Inc.

Moors & Cabot Inc. raised its stake in shares of NOV Inc. (NYSE:NOV) by 65.3% during the third quarter, HoldingsChannel reports. The firm owned 34,000 shares of the oil and gas exploration company’s stock after purchasing an additional 13,428 shares during the quarter. Moors & Cabot Inc.’s holdings in NOV were worth $36,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of NOV. IFP Advisors Inc increased its stake in NOV by 1,032.4% during the 3rd quarter. IFP Advisors Inc now owns 2,378 shares of the oil and gas exploration company’s stock valued at $31,000 after purchasing an additional 2,168 shares in the last quarter. NEXT Financial Group Inc increased its stake in NOV by 387.3% during the 3rd quarter. NEXT Financial Group Inc now owns 2,685 shares of the oil and gas exploration company’s stock valued at $35,000 after purchasing an additional 2,134 shares in the last quarter. Advisory Services Network LLC acquired a new position in NOV during the 2nd quarter valued at approximately $40,000. Berman Capital Advisors LLC increased its stake in NOV by 110.8% during the 3rd quarter. Berman Capital Advisors LLC now owns 5,267 shares of the oil and gas exploration company’s stock valued at $68,000 after purchasing an additional 2,769 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in NOV by 37.6% during the 3rd quarter. Fifth Third Bancorp now owns 6,794 shares of the oil and gas exploration company’s stock valued at $89,000 after purchasing an additional 1,858 shares in the last quarter. Institutional investors and hedge funds own 93.32% of the company’s stock.

NOV opened at $16.52 on Friday. The company has a quick ratio of 1.95, a current ratio of 2.67 and a debt-to-equity ratio of 0.34. The company has a market cap of $6.45 billion, a price-to-earnings ratio of -11.39 and a beta of 2.23. NOV Inc. has a 52-week low of $11.46 and a 52-week high of $18.02. The firm’s fifty day simple moving average is $13.59 and its two-hundred day simple moving average is $13.74.

NOV (NYSE:NOV) last posted its quarterly earnings data on Tuesday, October 26th. The oil and gas exploration company reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.03). The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.42 billion. NOV had a negative net margin of 10.44% and a negative return on equity of 6.25%. On average, research analysts forecast that NOV Inc. will post -0.54 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 17th. Shareholders of record on Friday, December 3rd were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Thursday, December 2nd. NOV’s payout ratio is -13.79%.

NOV has been the topic of a number of research reports. Wells Fargo & Company initiated coverage on shares of NOV in a research note on Sunday, September 26th. They issued a “sell” rating and a $12.00 price objective on the stock. Morgan Stanley cut their price objective on shares of NOV from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Monday, October 11th. Griffin Securities reiterated a “hold” rating on shares of NOV in a research note on Sunday, October 31st. Finally, JPMorgan Chase & Co. upgraded shares of NOV from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $15.00 to $17.00 in a research note on Tuesday, December 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $16.56.

In other NOV news, Director Eric L. Mattson sold 8,157 shares of the stock in a transaction on Thursday, October 28th. The shares were sold at an average price of $14.53, for a total transaction of $118,521.21. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.39% of the company’s stock.

NOV Profile

NOV, Inc provides equipment and technology to the upstream oil and gas industry. It operates through the following segments: Rig Technologies, Wellbore Technologies, and Completion and Production Solutions. The Rig Technologies segment monitors its capital equipment backlog to plan its business. The Wellbore Technologies segment designs, manufactures, rents, and sells a variety of equipment and technologies used to perform drilling operations and offers services that optimize their performance.

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Institutional Ownership by Quarter for NOV (NYSE:NOV)

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