NOV Inc. (NYSE:NOV) Shares Sold by Brooklyn Investment Group

Brooklyn Investment Group lowered its position in shares of NOV Inc. (NYSE:NOV) by 39.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,814 shares of the oil and gas exploration company’s stock after selling 1,192 shares during the period. Brooklyn Investment Group’s holdings in NOV were worth $26,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Pzena Investment Management LLC grew its holdings in shares of NOV by 22.3% during the third quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock worth $687,143,000 after purchasing an additional 7,851,220 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in shares of NOV by 23.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company’s stock worth $593,336,000 after acquiring an additional 6,963,660 shares during the last quarter. AQR Capital Management LLC increased its stake in NOV by 232.6% in the second 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. Allspring Global Investments Holdings LLC grew its stake in shares of NOV by 3.0% in 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 last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in NOV by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,927,965 shares of the oil and gas exploration company’s stock worth $46,760,000 after acquiring an additional 55,056 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Seaport Res Ptn lowered NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Stifel Nicolaus reduced their price objective on NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Evercore ISI reaffirmed an “in-line” rating and issued a $18.00 price objective (down from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Finally, Piper Sandler initiated coverage on NOV in a report on Thursday, December 19th. They set a “neutral” rating and a $17.00 target price on the stock. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.00.

NOV Trading Up 3.4 %

Shares of NOV stock opened at $15.64 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.57. NOV Inc. has a 1 year low of $13.94 and a 1 year high of $21.23. The stock has a fifty day moving average of $15.26 and a two-hundred day moving average of $16.46. The firm has a market capitalization of $6.08 billion, a PE ratio of 5.77, a price-to-earnings-growth ratio of 0.90 and a beta of 1.66.

NOV Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.075 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.30 annualized dividend and a dividend yield of 1.92%. NOV’s dividend payout ratio (DPR) is 11.07%.

Insider Activity

In other news, Director David D. Harrison sold 1,784 shares of the company’s stock in a transaction 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 sale, the director now owns 110,951 shares in the company, valued at $1,786,311.10. This represents a 1.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.85% of the company’s stock.

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.