Amalgamated Bank reduced its position in NOV Inc. (NYSE:NOV – Get Rating) by 2.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 272,254 shares of the oil and gas exploration company’s stock after selling 7,613 shares during the period. Amalgamated Bank owned approximately 0.07% of NOV worth $5,339,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Covestor Ltd lifted its stake in NOV by 94.4% during the 1st quarter. Covestor Ltd now owns 1,287 shares of the oil and gas exploration company’s stock valued at $25,000 after acquiring an additional 625 shares in the last quarter. State of Michigan Retirement System lifted its stake in NOV by 0.7% during the 1st quarter. State of Michigan Retirement System now owns 99,677 shares of the oil and gas exploration company’s stock valued at $1,955,000 after acquiring an additional 677 shares in the last quarter. CWM LLC lifted its stake in NOV by 133.7% during the 1st quarter. CWM LLC now owns 1,318 shares of the oil and gas exploration company’s stock valued at $26,000 after acquiring an additional 754 shares in the last quarter. Captrust Financial Advisors lifted its stake in NOV by 6.0% during the 1st quarter. Captrust Financial Advisors now owns 13,749 shares of the oil and gas exploration company’s stock valued at $270,000 after acquiring an additional 777 shares in the last quarter. Finally, US Bancorp DE lifted its stake in NOV by 2.0% during the 1st quarter. US Bancorp DE now owns 39,557 shares of the oil and gas exploration company’s stock valued at $777,000 after acquiring an additional 788 shares in the last quarter. 97.86% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their target price on NOV from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, July 29th. Benchmark began coverage on NOV in a research report on Wednesday, August 24th. They set a “hold” rating for the company. The Goldman Sachs Group decreased their price objective on NOV from $18.00 to $16.00 and set a “sell” rating for the company in a report on Wednesday, July 13th. Bank of America raised NOV from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $10.00 to $15.00 in a report on Friday, July 29th. Finally, Barclays lifted their price objective on NOV from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 8th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $19.91.
NOV Stock Up 0.2 %
NOV Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.17%. NOV’s dividend payout ratio (DPR) is presently -86.96%.
In other news, Director Greg L. Armstrong sold 10,381 shares of NOV stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $18.99, for a total transaction of $197,135.19. Following the completion of the sale, the director now owns 82,724 shares in the company, valued at approximately $1,570,928.76. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.59% of the company’s stock.
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 worldwide. The company operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.
- Get a free copy of the StockNews.com research report on NOV (NOV)
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