Glenmede Trust Co. NA Purchases New Holdings in NOV Inc. (NYSE:NOV)

Glenmede Trust Co. NA acquired a new position in shares of NOV Inc. (NYSE:NOV) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 859,708 shares of the oil and gas exploration company’s stock, valued at approximately $13,730,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rothschild Investment LLC acquired a new stake in shares of NOV during the second quarter worth approximately $28,000. American National Bank & Trust bought a new position in NOV during the 3rd quarter valued at $39,000. International Assets Investment Management LLC grew its holdings 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 worth $46,000 after acquiring an additional 2,735 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of NOV in the 3rd quarter worth about $48,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of NOV in the 2nd quarter valued at about $78,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on NOV shares. Citigroup downgraded NOV from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $21.00 to $18.00 in a research note on Monday, November 11th. Bank of America lowered their price target on NOV from $22.00 to $20.00 and set a “buy” rating for the company in a report on Monday, October 14th. JPMorgan Chase & Co. dropped their price target on NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Barclays lowered their target price on shares of NOV from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Tuesday, October 29th. Finally, Stifel Nicolaus reduced their price target on shares of NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, NOV has an average rating of “Hold” and an average target price of $21.64.

Insider Buying and Selling at NOV

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 completion of the transaction, the director now owns 110,951 shares in the company, valued at $1,786,311.10. This represents a 1.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.85% of the stock is owned by company insiders.

NOV Price Performance

NYSE NOV opened at $15.99 on Friday. The company has a 50-day moving average price of $16.04 and a two-hundred day moving average price of $17.37. NOV Inc. has a 52 week low of $14.98 and a 52 week high of $21.23. The stock has a market cap of $6.22 billion, a price-to-earnings ratio of 5.90, a price-to-earnings-growth ratio of 0.93 and a beta of 1.66. 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 Dividend Announcement

The firm also recently announced 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 currently 11.07%.

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.