Brooklyn Investment Group Invests $48,000 in NOV Inc. (NYSE:NOV)

Brooklyn Investment Group bought a new position in NOV Inc. (NYSE:NOV) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,006 shares of the oil and gas exploration company’s stock, valued at approximately $48,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pzena Investment Management LLC lifted its holdings in NOV by 22.3% during the 3rd quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock valued at $687,143,000 after buying an additional 7,851,220 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in NOV by 40.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,138,093 shares of the oil and gas exploration company’s stock valued at $230,743,000 after buying an additional 3,470,860 shares in the last quarter. Bank of New York Mellon Corp increased its position in NOV by 67.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 9,928,911 shares of the oil and gas exploration company’s stock valued at $188,749,000 after purchasing an additional 3,989,095 shares during the period. AQR Capital Management LLC increased its position in NOV by 232.6% during the 2nd quarter. AQR Capital Management LLC now owns 4,888,891 shares of the oil and gas exploration company’s stock valued at $92,938,000 after purchasing an additional 3,418,885 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in NOV by 3.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,113,452 shares of the oil and gas exploration company’s stock valued at $49,722,000 after purchasing an additional 91,013 shares during the period. Institutional investors own 93.27% of the company’s stock.

NOV Stock Up 0.3 %

NOV stock opened at $16.03 on Friday. 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 Inc. has a 52 week low of $14.98 and a 52 week high of $21.23. The firm has a 50 day moving average of $16.02 and a 200 day moving average of $17.36. The stock has a market capitalization of $6.24 billion, a PE ratio of 5.92, a price-to-earnings-growth ratio of 0.93 and a beta of 1.66.

NOV Dividend Announcement

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 paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.87%. The ex-dividend date is Friday, December 6th. NOV’s payout ratio is 11.07%.

Insider Buying and Selling at NOV

In other NOV news, Director David D. Harrison sold 1,784 shares of NOV stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total transaction of $28,722.40. Following the completion of the sale, the director now directly owns 110,951 shares in the company, valued at approximately $1,786,311.10. The trade was a 1.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.85% of the company’s stock.

Wall Street Analyst Weigh In

NOV has been the topic of a number of research reports. Bank of America cut their target price on shares of NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. BMO Capital Markets cut their target price on shares of NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Thursday, October 10th. Susquehanna cut their target price on shares of NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a research report on Monday, October 28th. Barclays cut their price objective on shares of NOV from $17.00 to $16.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. Finally, Stifel Nicolaus cut their price objective on shares of NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, NOV has a consensus rating of “Hold” and an average target price 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.