Brooklyn Investment Group Buys Shares of 3,006 NOV Inc. (NYSE:NOV)

Brooklyn Investment Group bought a new stake in shares of NOV Inc. (NYSE:NOV) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,006 shares of the oil and gas exploration company’s stock, valued at approximately $48,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Stanley Laman Group Ltd. purchased a new stake in shares of NOV in the second quarter worth $4,031,000. Deprince Race & Zollo Inc. increased its stake in shares of NOV by 1,194.1% in the second quarter. Deprince Race & Zollo Inc. now owns 1,706,017 shares of the oil and gas exploration company’s stock worth $32,431,000 after purchasing an additional 1,574,188 shares in the last quarter. WINTON GROUP Ltd increased its stake in shares of NOV by 1,866.3% in the second quarter. WINTON GROUP Ltd now owns 841,078 shares of the oil and gas exploration company’s stock worth $15,989,000 after purchasing an additional 798,303 shares in the last quarter. Canandaigua National Bank & Trust Co. purchased a new stake in shares of NOV in the second quarter worth $1,100,000. Finally, International Assets Investment Management LLC increased its stake in shares of NOV by 1,590.1% in 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 purchasing an additional 2,735 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. 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. Susquehanna reduced their price objective on shares of NOV from $22.00 to $21.00 and set a “positive” rating for the company in a research note on Monday, October 28th. JPMorgan Chase & Co. cut their target price on shares of NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Citigroup cut shares of NOV from a “buy” rating to a “neutral” rating and cut their target price for the company from $21.00 to $18.00 in a research note on Monday, November 11th. Finally, Bank of America cut their target price on shares of NOV from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $21.64.

NOV Price Performance

NOV stock opened at $16.03 on Friday. NOV Inc. has a 52 week low of $14.98 and a 52 week high of $21.23. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26. The company has a fifty day simple moving average of $16.02 and a two-hundred day simple moving average of $17.36. The firm has a market capitalization of $6.24 billion, a P/E ratio of 5.92, a price-to-earnings-growth ratio of 0.93 and a beta of 1.66.

NOV Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.30 annualized dividend and a yield of 1.87%. NOV’s dividend payout ratio (DPR) is currently 11.07%.

Insider Transactions at NOV

In other news, Director David D. Harrison sold 1,784 shares of the firm’s 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 sale, the director now owns 110,951 shares in the company, valued at approximately $1,786,311.10. This trade represents a 1.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.85% of the company’s stock.

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.