Thrivent Financial for Lutherans Sells 403,267 Shares of NOV Inc. (NYSE:NOV)

Thrivent Financial for Lutherans cut its position in shares of NOV Inc. (NYSE:NOV) by 5.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,423,925 shares of the oil and gas exploration company’s stock after selling 403,267 shares during the quarter. Thrivent Financial for Lutherans owned approximately 1.91% of NOV worth $118,560,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in NOV. Rothschild Investment LLC bought a new stake in NOV in the second quarter valued at approximately $28,000. American National Bank & Trust bought a new stake in shares of NOV during the third quarter valued at approximately $39,000. International Assets Investment Management LLC grew its position in shares of NOV by 1,590.1% in 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 buying an additional 2,735 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in NOV in the second quarter worth about $78,000. Finally, Signaturefd LLC increased its position in NOV by 67.6% during the 2nd quarter. Signaturefd LLC now owns 4,443 shares of the oil and gas exploration company’s stock valued at $84,000 after buying an additional 1,792 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

NOV Stock Performance

NOV opened at $15.97 on Friday. The company has a 50 day simple moving average of $16.02 and a two-hundred day simple moving average of $17.51. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. The firm has a market cap of $6.21 billion, a P/E ratio of 5.89, a PEG ratio of 0.92 and a beta of 1.66. NOV Inc. has a 1-year low of $14.98 and a 1-year high of $21.23.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.075 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.30 dividend on an annualized basis and a yield of 1.88%. NOV’s payout ratio is presently 11.07%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NOV shares. Morgan Stanley reduced their price objective on shares of NOV from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Benchmark reaffirmed a “hold” rating on shares of NOV in a research report on Friday, July 26th. 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. Barclays reduced their price objective on NOV from $17.00 to $16.00 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. cut their price target on NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Two 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $21.64.

NOV Company Profile

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.