Amalgamated Bank Sells 60,229 Shares of NOV Inc. (NYSE:NOV)

Amalgamated Bank lowered its holdings in NOV Inc. (NYSE:NOV - Free Report) by 24.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 187,641 shares of the oil and gas exploration company's stock after selling 60,229 shares during the period. Amalgamated Bank's holdings in NOV were worth $2,997,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Boston Partners acquired a new position in NOV during the first quarter valued at approximately $119,686,000. Bank of New York Mellon Corp raised its position in NOV by 67.2% during the second quarter. Bank of New York Mellon Corp now owns 9,928,911 shares of the oil and gas exploration company's stock valued at $188,749,000 after purchasing an additional 3,989,095 shares in the last quarter. Dimensional Fund Advisors LP raised its position in NOV by 40.0% during the second quarter. Dimensional Fund Advisors LP now owns 12,138,093 shares of the oil and gas exploration company's stock valued at $230,743,000 after purchasing an additional 3,470,860 shares in the last quarter. AQR Capital Management LLC raised its position in NOV by 232.6% during the second quarter. AQR Capital Management LLC now owns 4,888,891 shares of the oil and gas exploration company's stock valued at $92,938,000 after purchasing an additional 3,418,885 shares in the last quarter. Finally, Deprince Race & Zollo Inc. raised its position in NOV by 1,194.1% during the second quarter. Deprince Race & Zollo Inc. now owns 1,706,017 shares of the oil and gas exploration company's stock valued at $32,431,000 after purchasing an additional 1,574,188 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

NOV Trading Up 1.5 %

NOV traded up $0.25 during trading on Monday, reaching $16.53. 3,592,664 shares of the stock traded hands, compared to its average volume of 3,723,622. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $6.43 billion, a PE ratio of 6.10, a P/E/G ratio of 0.93 and a beta of 1.66. The stock's 50-day moving average is $16.06 and its 200 day moving average is $17.58. NOV Inc. has a 12 month low of $14.98 and a 12 month high of $21.23.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.30 dividend on an annualized basis and a yield of 1.81%. NOV's dividend payout ratio (DPR) is currently 11.07%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of 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 lowered their price objective on shares of NOV from $22.00 to $20.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Stifel Nicolaus lowered their price target on shares of NOV from $25.00 to $24.00 and set a "buy" rating for the company in a report on Monday, October 28th. Evercore ISI upgraded shares of NOV to a "strong-buy" rating in a report on Friday, July 26th. Finally, Morgan Stanley lowered their price target on shares of NOV from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $21.64.

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.