NOV Inc. (NYSE:NOV) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its holdings in shares of NOV Inc. (NYSE:NOV) by 7.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,627,900 shares of the oil and gas exploration company’s stock after selling 137,798 shares during the quarter. New York State Common Retirement Fund’s holdings in NOV were worth $23,767,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in NOV by 851.1% during the 3rd quarter. Blue Trust Inc. now owns 5,859 shares of the oil and gas exploration company’s stock worth $94,000 after buying an additional 5,243 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in NOV during the 3rd quarter worth approximately $217,000. International Assets Investment Management LLC lifted its holdings in NOV by 1,590.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock worth $46,000 after buying an additional 2,735 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in NOV by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 45,817 shares of the oil and gas exploration company’s stock worth $731,000 after buying an additional 3,100 shares during the last quarter. Finally, Semanteon Capital Management LP bought a new position in NOV during the 3rd quarter worth approximately $1,148,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. ATB Capital reaffirmed a “sector perform” rating and set a $19.00 target price on shares of NOV in a report on Tuesday, December 10th. Piper Sandler raised their price target on NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Evercore ISI reissued an “in-line” rating and issued a $18.00 price target (down previously from $25.00) on shares of NOV in a report on Wednesday, January 15th. TD Cowen cut their price target on NOV from $28.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, Atb Cap Markets downgraded NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $19.60.

NOV Stock Down 2.2 %

Shares of NOV stock opened at $15.10 on Friday. The business’s fifty day moving average price is $14.95 and its two-hundred day moving average price is $15.88. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. The company has a market capitalization of $5.75 billion, a P/E ratio of 9.38, a PEG ratio of 1.01 and a beta of 1.64. NOV Inc. has a 1-year low of $13.94 and a 1-year high of $21.20.

NOV (NYSE:NOV) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. As a group, research analysts forecast that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, March 14th. NOV’s dividend payout ratio (DPR) is presently 18.63%.

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.