Qsemble Capital Management LP Invests $1.93 Million in NOV Inc. (NYSE:NOV)

Qsemble Capital Management LP purchased a new stake in NOV Inc. (NYSE:NOV) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 120,717 shares of the oil and gas exploration company’s stock, valued at approximately $1,928,000.

Other large investors also recently bought and sold shares of the company. Rothschild Investment LLC purchased a new stake in shares of NOV in the second quarter valued at approximately $28,000. American National Bank & Trust purchased a new position in NOV during the third quarter valued at $39,000. International Assets Investment Management LLC increased its stake in shares of NOV by 1,590.1% during 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. Mercer Global Advisors Inc. ADV acquired a new position in shares of NOV during the 2nd quarter worth about $78,000. Finally, Signaturefd LLC lifted its stake in NOV by 67.6% in the 2nd quarter. Signaturefd LLC now owns 4,443 shares of the oil and gas exploration company’s stock valued at $84,000 after buying an additional 1,792 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Activity

In related news, Director David D. Harrison sold 1,784 shares of the business’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 transaction 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. The trade was a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.85% of the company’s stock.

NOV Price Performance

NOV stock opened at $16.25 on Tuesday. The company has a market capitalization of $6.32 billion, a PE ratio of 6.00, a P/E/G ratio of 0.96 and a beta of 1.66. The company has a current ratio of 2.57, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26. The business’s fifty day moving average price is $16.05 and its 200 day moving average price is $17.40. NOV Inc. has a 12-month low of $14.98 and a 12-month high of $21.23.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Friday, December 6th. NOV’s dividend payout ratio is currently 11.07%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Citigroup lowered NOV from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $21.00 to $18.00 in a research note on Monday, November 11th. BMO Capital Markets reduced their price objective on NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. lowered their target price on shares of NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $24.00 target price on shares of NOV in a report on Monday, July 29th. Finally, Barclays dropped their price objective on shares of NOV from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, NOV has an average rating of “Hold” and an average price target 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.