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

Amalgamated Bank reduced its position in shares of NOV Inc. (NYSE:NOV) by 1.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its holdings in shares of 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 buying an additional 1,612 shares in the last quarter. Quarry LP acquired a new stake in NOV during the 3rd quarter valued at $36,000. R Squared Ltd bought a new position in NOV in the 4th quarter valued at $44,000. International Assets Investment Management LLC raised its position 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 last quarter. Finally, Brooklyn Investment Group acquired a new position in NOV in the third quarter worth $48,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Stock Performance

Shares of NYSE NOV opened at $14.93 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. The stock has a 50 day moving average price of $15.01 and a 200 day moving average price of $15.77. The stock has a market capitalization of $5.68 billion, a PE ratio of 9.27, a price-to-earnings-growth ratio of 1.02 and a beta of 1.64. NOV Inc. has a 52 week low of $13.94 and a 52 week high of $21.20.

NOV (NYSE:NOV) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, topping 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%. Analysts predict that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, March 14th. NOV’s payout ratio is currently 18.63%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NOV. Raymond James lifted their price target on NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Piper Sandler upped their target price on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Barclays raised their price target on shares of NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a report on Tuesday, February 18th. Evercore ISI reaffirmed an “in-line” rating and set a $18.00 price objective (down previously from $25.00) on shares of NOV in a report on Wednesday, January 15th. Finally, ATB Capital reissued a “sector perform” rating and issued a $19.00 target price on shares of NOV in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, NOV currently has an average rating of “Hold” and an average price target of $19.60.

About NOV

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.