AM Squared Ltd Has $145,000 Position in NOV Inc. (NYSE:NOV)

AM Squared Ltd reduced its stake in shares of NOV Inc. (NYSE:NOV) by 40.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,100 shares of the oil and gas exploration company’s stock after selling 6,300 shares during the period. NOV accounts for 0.3% of AM Squared Ltd’s investment portfolio, making the stock its 22nd biggest holding. AM Squared Ltd’s holdings in NOV were worth $145,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of NOV. Boston Partners purchased a new position in shares of NOV during the 1st quarter valued at $119,686,000. Bank of New York Mellon Corp grew its holdings in shares of NOV by 67.2% during the 2nd 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 acquiring an additional 3,989,095 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of NOV by 40.0% during the 2nd 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 acquiring an additional 3,470,860 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of NOV by 232.6% during the 2nd 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 acquiring an additional 3,418,885 shares in the last quarter. Finally, Deprince Race & Zollo Inc. grew its holdings in shares of NOV by 1,194.1% during the 2nd 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 acquiring an additional 1,574,188 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

NOV Stock Down 1.5 %

NOV stock opened at $15.97 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. NOV Inc. has a 52-week low of $14.98 and a 52-week high of $21.23. The company has a 50-day moving average of $16.02 and a two-hundred day moving average of $17.51. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of 5.89, a price-to-earnings-growth ratio of 0.92 and a beta of 1.66.

NOV Dividend Announcement

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

Wall Street Analysts Forecast Growth

NOV has been the topic of several research analyst reports. Wells Fargo & Company lowered their price target on shares of NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Barclays decreased their price objective on shares of NOV from $17.00 to $16.00 and set an “underweight” rating for the company in a report on Tuesday, October 29th. TD Cowen decreased their price objective on shares of NOV from $28.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 28th. Citigroup cut shares of NOV from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $21.00 to $18.00 in a report on Monday, November 11th. Finally, BMO Capital Markets decreased their price objective on shares of NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $21.64.

NOV 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.