Amalgamated Bank Purchases 7,886 Shares of NOV Inc. (NYSE:NOV)

Amalgamated Bank lifted its position in shares of NOV Inc. (NYSE:NOV) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 247,870 shares of the oil and gas exploration company’s stock after acquiring an additional 7,886 shares during the period. Amalgamated Bank owned approximately 0.06% of NOV worth $4,712,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in NOV. Goldman Sachs Group Inc. lifted its stake in NOV by 95.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 879,960 shares of the oil and gas exploration company’s stock worth $17,846,000 after purchasing an additional 429,104 shares during the last quarter. Wintrust Investments LLC lifted its position in shares of NOV by 631.6% during the 1st quarter. Wintrust Investments LLC now owns 81,943 shares of the oil and gas exploration company’s stock worth $1,600,000 after buying an additional 70,743 shares during the last quarter. Stanley Laman Group Ltd. acquired a new stake in NOV in the second quarter valued at about $4,031,000. Edmond DE Rothschild Holding S.A. grew its position in NOV by 16.1% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 2,200,000 shares of the oil and gas exploration company’s stock valued at $44,616,000 after acquiring an additional 305,000 shares during the last quarter. Finally, Schroder Investment Management Group raised its stake in NOV by 71.3% during the fourth quarter. Schroder Investment Management Group now owns 1,092,422 shares of the oil and gas exploration company’s stock worth $22,154,000 after acquiring an additional 454,665 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley reduced their price target on shares of NOV from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Barclays boosted their target price on shares of NOV from $17.00 to $20.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 30th. Piper Sandler dropped their price target on NOV from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Royal Bank of Canada restated a “sector perform” rating and set a $24.00 price objective on shares of NOV in a research report on Monday, July 29th. Finally, TD Cowen increased their target price on NOV from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.42.

NOV Price Performance

Shares of NYSE NOV opened at $16.90 on Friday. The company’s 50 day moving average price is $17.86 and its 200-day moving average price is $18.38. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.64 and a current ratio of 2.61. NOV Inc. has a 52-week low of $15.47 and a 52-week high of $21.71. The company has a market capitalization of $6.68 billion, a P/E ratio of 6.79, a price-to-earnings-growth ratio of 0.47 and a beta of 1.67.

NOV (NYSE:NOV) last issued its quarterly earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.22. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.19 billion. NOV had a net margin of 11.88% and a return on equity of 10.97%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Equities analysts forecast that NOV Inc. will post 1.63 earnings per share for the current year.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.78%. The ex-dividend date is Friday, September 13th. NOV’s dividend payout ratio (DPR) is presently 12.05%.

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.