NOV (NYSE:NOV) Stock Rating Lowered by Seaport Res Ptn

NOV (NYSE:NOV) was downgraded by Seaport Res Ptn from a “strong-buy” rating to a “hold” rating in a report released on Sunday,Zacks.com reports.

A number of other research analysts also recently commented on the company. Barclays dropped their price objective on NOV from $16.00 to $12.00 and set an “underweight” rating on the stock in a report on Wednesday, December 18th. JPMorgan Chase & Co. lowered their target price on shares of NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Atb Cap Markets lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Susquehanna dropped their price objective on NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a report on Monday, October 28th. Finally, Citigroup cut NOV from a “buy” rating to a “neutral” rating and decreased their target price for the company from $21.00 to $18.00 in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.14.

NOV Price Performance

Shares of NYSE NOV opened at $14.78 on Friday. The stock’s 50-day moving average is $15.43 and its two-hundred day moving average is $16.72. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. NOV has a 1-year low of $13.94 and a 1-year high of $21.23. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 5.45, a price-to-earnings-growth ratio of 0.87 and a beta of 1.66.

Insider Buying and Selling

In related news, Director David D. Harrison sold 1,784 shares of NOV 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 completion of the transaction, the director now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.85% of the stock is owned by insiders.

Institutional Trading of NOV

Several large investors have recently bought and sold shares of NOV. Quarry LP purchased a new stake in shares of NOV in the third quarter valued at about $36,000. American National Bank & Trust purchased a new stake in NOV in the 3rd quarter valued at approximately $39,000. International Assets Investment Management LLC increased its position in NOV by 1,590.1% during the third quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock worth $46,000 after buying an additional 2,735 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of NOV in the third quarter worth $48,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of NOV in the second quarter valued at $78,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.