Amalgamated Bank Sells 2,522 Shares of NOV Inc. (NYSE:NOV)

Amalgamated Bank decreased its stake in shares of NOV Inc. (NYSE:NOV) by 1.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 185,119 shares of the oil and gas exploration company’s stock after selling 2,522 shares during the period. Amalgamated Bank’s holdings in NOV were worth $2,703,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. UMB Bank n.a. lifted its position in NOV by 222.3% during the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock worth $34,000 after acquiring an additional 1,612 shares during the last quarter. Quarry LP bought a new position in shares of NOV during the third quarter worth approximately $36,000. R Squared Ltd acquired a new stake in NOV during the 4th quarter worth approximately $44,000. International Assets Investment Management LLC boosted its stake 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 purchasing an additional 2,735 shares during the period. Finally, Brooklyn Investment Group acquired a new position in NOV in the 3rd quarter valued at $48,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Stock Performance

NOV stock opened at $14.93 on Friday. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. The stock has a market cap of $5.68 billion, a PE ratio of 9.27, a P/E/G ratio of 1.02 and a beta of 1.64. NOV Inc. has a 12-month low of $13.94 and a 12-month high of $21.20. The business’s 50-day moving average price is $15.01 and its two-hundred day moving average price is $15.77.

NOV (NYSE:NOV) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. As a group, analysts expect that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.01%. NOV’s dividend payout ratio (DPR) is presently 18.63%.

Analysts Set New Price Targets

NOV has been the subject of a number of research reports. Royal Bank of Canada lifted their target price on NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Barclays boosted their price objective on shares of NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a report on Tuesday, February 18th. Piper Sandler raised their target price on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Citigroup cut NOV from a “buy” rating to a “neutral” rating and cut their price target for the company from $21.00 to $18.00 in a research note on Monday, November 11th. Finally, Wells Fargo & Company lowered their price objective on NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $19.60.

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.