NOV Inc. (NYSE:NOV) Shares Sold by AM Squared Ltd

AM Squared Ltd cut its holdings in shares of NOV Inc. (NYSE:NOV) by 40.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,100 shares of the oil and gas exploration company’s stock after selling 6,300 shares during the period. NOV makes up about 0.3% of AM Squared Ltd’s investment portfolio, making the stock its 22nd largest holding. AM Squared Ltd’s holdings in NOV were worth $145,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NOV. Janney Montgomery Scott LLC boosted its position in shares of NOV by 41.6% during the first quarter. Janney Montgomery Scott LLC now owns 19,223 shares of the oil and gas exploration company’s stock worth $375,000 after buying an additional 5,646 shares during the period. Entropy Technologies LP acquired a new position in shares of NOV during the first quarter worth approximately $229,000. State Board of Administration of Florida Retirement System boosted its position in shares of NOV by 0.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 449,923 shares of the oil and gas exploration company’s stock worth $8,328,000 after buying an additional 3,535 shares during the period. Edgestream Partners L.P. acquired a new position in shares of NOV during the first quarter worth approximately $314,000. Finally, O Shaughnessy Asset Management LLC acquired a new stake in NOV in the first quarter worth approximately $277,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Price Performance

Shares of NYSE:NOV opened at $15.97 on Friday. The company’s fifty day moving average is $16.02 and its two-hundred day moving average is $17.51. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26. NOV Inc. has a 12-month low of $14.98 and a 12-month high of $21.23. The company has a market cap of $6.21 billion, a P/E ratio of 5.89, a price-to-earnings-growth ratio of 0.92 and a beta of 1.66.

NOV Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Friday, December 6th. NOV’s dividend payout ratio (DPR) is currently 11.07%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NOV shares. JPMorgan Chase & Co. cut their target price on NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Bank of America cut their target price on NOV from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Evercore ISI upgraded NOV to a “strong-buy” rating in a research report on Friday, July 26th. Stifel Nicolaus cut their target price on NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, Citigroup downgraded NOV from a “buy” rating to a “neutral” rating and cut their target price for the stock from $21.00 to $18.00 in a research report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.