Swiss National Bank Has $11.31 Million Stock Position in NOV Inc. (NYSE:NOV)

Swiss National Bank increased its stake in NOV Inc. (NYSE:NOV) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 863,000 shares of the oil and gas exploration company’s stock after purchasing an additional 7,300 shares during the period. Swiss National Bank owned approximately 0.22% of NOV worth $11,314,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc boosted its stake in NOV by 1,032.4% in the 3rd quarter. IFP Advisors Inc now owns 2,378 shares of the oil and gas exploration company’s stock worth $31,000 after purchasing an additional 2,168 shares during the period. Advisory Services Network LLC acquired a new position in NOV in the 2nd quarter worth $40,000. NEXT Financial Group Inc boosted its stake in NOV by 387.3% in the 3rd quarter. NEXT Financial Group Inc now owns 2,685 shares of the oil and gas exploration company’s stock worth $35,000 after purchasing an additional 2,134 shares during the period. Berman Capital Advisors LLC lifted its position 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 worth $68,000 after buying an additional 2,769 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position 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 worth $89,000 after buying an additional 1,858 shares in the last quarter. 93.32% of the stock is owned by hedge funds and other institutional investors.

In other NOV news, Director Eric L. Mattson sold 8,157 shares of the stock in a transaction that occurred on Thursday, October 28th. The shares were sold at an average price of $14.53, for a total transaction of $118,521.21. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.39% of the company’s stock.

Several equities research analysts have commented on NOV shares. JPMorgan Chase & Co. raised shares of NOV from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $15.00 to $17.00 in a research report on Tuesday, December 14th. Griffin Securities reaffirmed a “hold” rating on shares of NOV in a report on Sunday, October 31st. Wells Fargo & Company initiated coverage on shares of NOV in a report on Sunday, September 26th. They issued a “sell” rating and a $12.00 target price on the stock. Finally, Morgan Stanley dropped their target price on shares of NOV from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Monday, October 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, NOV has a consensus rating of “Hold” and an average target price of $16.56.

NOV stock opened at $16.52 on Friday. The stock has a market cap of $6.45 billion, a P/E ratio of -11.39 and a beta of 2.23. The company has a quick ratio of 1.95, a current ratio of 2.67 and a debt-to-equity ratio of 0.34. NOV Inc. has a twelve month low of $11.46 and a twelve month high of $18.02. The company’s 50-day moving average price is $13.59 and its two-hundred day moving average price is $13.74.

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

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

About NOV

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.

Further Reading: Shanghai Stock Exchange Composite Index

Institutional Ownership by Quarter for NOV (NYSE:NOV)

Receive News & Ratings for NOV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NOV and related companies with MarketBeat.com's FREE daily email newsletter.