Jacobs Levy Equity Management Inc. Takes Position in NOV Inc. (NYSE:NOV)

Jacobs Levy Equity Management Inc. bought a new stake in shares of NOV Inc. (NYSE:NOVFree Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,119 shares of the oil and gas exploration company’s stock, valued at approximately $273,000.

A number of other large investors have also recently made changes to their positions in NOV. CWM LLC boosted its stake in shares of NOV by 83.0% during the second quarter. CWM LLC now owns 19,657 shares of the oil and gas exploration company’s stock valued at $374,000 after purchasing an additional 8,914 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in NOV by 70.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 17,631 shares of the oil and gas exploration company’s stock worth $335,000 after acquiring an additional 7,303 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in NOV by 7.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 18,960 shares of the oil and gas exploration company’s stock worth $360,000 after acquiring an additional 1,261 shares during the period. Stanley Laman Group Ltd. purchased a new stake in NOV in the second quarter worth about $4,031,000. Finally, TCW Group Inc. lifted its stake in NOV by 59.6% in the second quarter. TCW Group Inc. now owns 112,201 shares of the oil and gas exploration company’s stock worth $2,133,000 after acquiring an additional 41,890 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

NOV Stock Performance

NOV opened at $15.11 on Wednesday. NOV Inc. has a 52-week low of $14.94 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 market cap of $5.88 billion, a P/E ratio of 5.58, a price-to-earnings-growth ratio of 0.87 and a beta of 1.66. The firm’s 50-day moving average price is $15.91 and its 200-day moving average price is $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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.30 annualized dividend and a yield of 1.99%. NOV’s dividend payout ratio (DPR) is presently 11.07%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NOV. JPMorgan Chase & Co. lowered their price objective 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. Bank of America lowered their price objective 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. Susquehanna lowered 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. Stifel Nicolaus reduced their target price 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. Finally, TD Cowen reduced their target price on shares of NOV from $28.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 28th. 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 given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $20.64.

Check Out Our Latest Stock Analysis on NOV

NOV Profile

(Free Report)

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.

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Institutional Ownership by Quarter for NOV (NYSE:NOV)

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