Massachusetts Financial Services Co. MA Sells 71,537 Shares of NOV Inc. (NYSE:NOV)

Massachusetts Financial Services Co. MA decreased its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 23.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 236,543 shares of the oil and gas exploration company's stock after selling 71,537 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.06% of NOV worth $3,600,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in NOV by 13.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,793,128 shares of the oil and gas exploration company's stock valued at $245,178,000 after buying an additional 1,934,243 shares in the last quarter. AQR Capital Management LLC boosted its position in NOV by 85.9% in the fourth quarter. AQR Capital Management LLC now owns 3,784,096 shares of the oil and gas exploration company's stock valued at $55,248,000 after buying an additional 1,748,816 shares in the last quarter. Ameriprise Financial Inc. boosted its position in NOV by 40.7% in the fourth quarter. Ameriprise Financial Inc. now owns 5,718,408 shares of the oil and gas exploration company's stock valued at $83,489,000 after buying an additional 1,652,917 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of NOV by 187.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,071,760 shares of the oil and gas exploration company's stock worth $30,248,000 after purchasing an additional 1,351,441 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of NOV by 181.2% during the fourth quarter. Millennium Management LLC now owns 1,743,550 shares of the oil and gas exploration company's stock worth $25,456,000 after purchasing an additional 1,123,431 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of NOV from $20.00 to $17.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Royal Bank Of Canada reduced their target price on shares of NOV from $20.00 to $19.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Piper Sandler reduced their target price on shares of NOV from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company reduced their target price on shares of NOV from $11.00 to $10.00 and set an "underweight" rating on the stock in a research note on Thursday, June 5th. Finally, Morgan Stanley cut their price objective on shares of NOV from $18.00 to $15.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, NOV presently has an average rating of "Hold" and a consensus price target of $17.31.

NOV Stock Up 5.3%

Shares of NOV stock traded up $0.70 during trading hours on Wednesday, hitting $13.72. 3,566,108 shares of the company were exchanged, compared to its average volume of 4,170,276. The business has a 50 day moving average of $12.92 and a two-hundred day moving average of $13.67. The company has a current ratio of 2.65, a quick ratio of 1.76 and a debt-to-equity ratio of 0.26. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $21.20. The company has a market capitalization of $5.15 billion, a PE ratio of 9.14, a PEG ratio of 3.32 and a beta of 1.28.

NOV (NYSE:NOV - Get Free Report) last released its earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.06). The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.11 billion. NOV had a net margin of 6.68% and a return on equity of 9.11%. The firm's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the business posted $0.30 EPS. Analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, June 13th. Investors of record on Tuesday, June 3rd were given a $0.21 dividend. This represents a yield of 3.63%. The ex-dividend date of this dividend was Monday, June 2nd. NOV's dividend payout ratio (DPR) is currently 20.00%.

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.