Jacobs Levy Equity Management Inc. Makes New $273,000 Investment in NOV Inc. (NYSE:NOV)

Jacobs Levy Equity Management Inc. bought a new position in shares of NOV Inc. (NYSE:NOV) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 17,119 shares of the oil and gas exploration company’s stock, valued at approximately $273,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Rothschild Investment LLC acquired a new position in shares of NOV during the 2nd quarter valued at about $28,000. American National Bank & Trust acquired a new position in shares of NOV during the 3rd quarter valued at about $39,000. International Assets Investment Management LLC raised its holdings in 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 valued at $46,000 after buying an additional 2,735 shares during the period. Brooklyn Investment Group purchased a new stake in NOV in the 3rd quarter valued at about $48,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in NOV in the 2nd quarter valued at about $78,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Stock Performance

Shares of NOV stock opened at $15.11 on Wednesday. NOV Inc. has a one year low of $14.94 and a one year high of $21.23. The company has a market cap of $5.88 billion, a PE ratio of 5.58, a P/E/G ratio of 0.87 and a beta of 1.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.57. The business has a 50-day simple moving average of $15.91 and a 200-day simple moving average of $17.16.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Friday, December 6th. NOV’s dividend payout ratio (DPR) is 11.07%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Barclays reduced their price objective on shares of NOV from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. JPMorgan Chase & Co. reduced their price objective on shares of NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. TD Cowen reduced their price objective on shares of NOV from $28.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Morgan Stanley reduced their price objective on shares of NOV from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Finally, BMO Capital Markets cut their price target on shares of 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 analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.64.

Insider Activity at NOV

In related news, Director David D. Harrison sold 1,784 shares of the company’s stock in a transaction that occurred on 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 directly owns 110,951 shares of the company’s stock, valued at $1,786,311.10. This represents a 1.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.85% of the stock is currently owned by corporate insiders.

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.