Massachusetts Financial Services Co. MA Has $3.60 Million Stock Holdings in NOV Inc. (NYSE:NOV)

Massachusetts Financial Services Co. MA decreased its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 23.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 236,543 shares of the oil and gas exploration company's stock after selling 71,537 shares during the period. Massachusetts Financial Services Co. MA owned 0.06% of NOV worth $3,600,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of 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 purchasing an additional 1,934,243 shares during the period. AQR Capital Management LLC boosted its stake in shares of 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 purchasing an additional 1,748,816 shares during the period. Ameriprise Financial Inc. boosted its stake in NOV by 40.7% during the 4th 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 acquiring an additional 1,652,917 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in NOV by 187.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,071,760 shares of the oil and gas exploration company's stock valued at $30,248,000 after acquiring an additional 1,351,441 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in NOV by 181.2% during the 4th quarter. Millennium Management LLC now owns 1,743,550 shares of the oil and gas exploration company's stock valued at $25,456,000 after acquiring an additional 1,123,431 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada reduced their price target 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. Wells Fargo & Company reduced their price target on shares of NOV from $11.00 to $10.00 and set an "underweight" rating on the stock in a research report on Thursday, June 5th. Piper Sandler dropped their price objective on shares of NOV from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Susquehanna dropped their price objective on shares of NOV from $19.00 to $18.00 and set a "positive" rating on the stock in a report on Tuesday, July 1st. Finally, Morgan Stanley dropped 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 equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $17.31.

NOV Stock Performance

NOV stock traded up $0.39 on Tuesday, reaching $13.10. 1,674,063 shares of the company were exchanged, compared to its average volume of 4,318,272. NOV Inc. has a 12 month low of $10.84 and a 12 month high of $21.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.65 and a quick ratio of 1.76. The stock's fifty day moving average price is $12.93 and its 200 day moving average price is $13.69. The firm has a market capitalization of $4.92 billion, a PE ratio of 8.73, a PEG ratio of 3.29 and a beta of 1.28.

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

NOV Dividend Announcement

The company also recently disclosed a dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd were issued a dividend of $0.21 per share. The ex-dividend date was Monday, June 2nd. This represents a yield of 3.63%. NOV's dividend payout ratio is currently 20.00%.

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.