Canandaigua National Trust Co of Florida Decreases Stock Holdings in NOV Inc. (NYSE:NOV)

Canandaigua National Trust Co of Florida lowered its holdings in NOV Inc. (NYSE:NOV) by 25.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,340 shares of the oil and gas exploration company’s stock after selling 10,212 shares during the period. Canandaigua National Trust Co of Florida’s holdings in NOV were worth $443,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Canandaigua National Bank & Trust Co. grew its position in NOV by 3.5% during the fourth quarter. Canandaigua National Bank & Trust Co. now owns 59,895 shares of the oil and gas exploration company’s stock valued at $874,000 after buying an additional 2,040 shares during the period. Nordea Investment Management AB bought a new position in shares of NOV during the 4th quarter valued at approximately $2,514,000. Tidal Investments LLC increased its stake in shares of NOV by 20.8% during the 3rd quarter. Tidal Investments LLC now owns 21,200 shares of the oil and gas exploration company’s stock worth $339,000 after purchasing an additional 3,645 shares during the last quarter. Barclays PLC raised its holdings in shares of NOV by 120.1% in the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock worth $7,561,000 after purchasing an additional 258,392 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in NOV during the third quarter valued at $1,713,000. Institutional investors own 93.27% of the company’s stock.

NOV Stock Performance

NOV stock remained flat at $14.78 during mid-day trading on Monday. The company’s stock had a trading volume of 2,972,295 shares, compared to its average volume of 2,436,507. NOV Inc. has a twelve month low of $13.94 and a twelve month high of $21.23. The company has a market capitalization of $5.75 billion, a P/E ratio of 5.45, a PEG ratio of 0.87 and a beta of 1.66. The business has a 50 day simple moving average of $15.44 and a 200 day simple moving average of $16.74. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Friday, December 6th. NOV’s dividend payout ratio (DPR) is currently 11.07%.

Insider Buying and Selling

In other NOV news, Director David D. Harrison sold 1,784 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was 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 of the company’s stock, valued at approximately $1,786,311.10. The trade was a 1.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Morgan Stanley cut their price target on NOV from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Stifel Nicolaus cut their price objective on shares of NOV from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, October 28th. Piper Sandler initiated coverage on shares of NOV in a report on Thursday, December 19th. They set a “neutral” rating and a $17.00 target price on the stock. Atb Cap Markets cut NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, BMO Capital Markets decreased their price objective on NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.14.

NOV 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.