Teacher Retirement System of Texas Increases Stock Holdings in NOV Inc. (NYSE:NOV)

Teacher Retirement System of Texas raised its stake in shares of NOV Inc. (NYSE:NOV) by 30.6% during the fourth quarter, Holdings Channel reports. The firm owned 154,810 shares of the oil and gas exploration company’s stock after buying an additional 36,305 shares during the quarter. Teacher Retirement System of Texas’ holdings in NOV were worth $2,260,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC increased its position in shares of NOV by 23.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company’s stock valued at $593,336,000 after buying an additional 6,963,660 shares during the period. Pacer Advisors Inc. raised its position in shares of NOV by 12,344.0% in the 4th quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock worth $179,718,000 after acquiring an additional 12,210,514 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of NOV by 22.1% during the fourth quarter. Van ECK Associates Corp now owns 5,182,044 shares of the oil and gas exploration company’s stock valued at $75,658,000 after purchasing an additional 938,866 shares in the last quarter. Greenhaven Associates Inc. grew its stake in NOV by 61.7% in the fourth quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock worth $48,049,000 after purchasing an additional 1,255,666 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in NOV by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,019,765 shares of the oil and gas exploration company’s stock worth $44,089,000 after purchasing an additional 91,800 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

NOV Price Performance

NYSE NOV opened at $15.44 on Thursday. The company has a 50-day moving average price of $15.01 and a 200-day moving average price of $15.40. NOV Inc. has a 52 week low of $13.78 and a 52 week high of $21.20. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $5.88 billion, a P/E ratio of 9.59, a PEG ratio of 1.02 and a beta of 1.66.

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

NOV Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, March 14th. This represents a $0.30 annualized dividend and a yield of 1.94%. NOV’s dividend payout ratio (DPR) is presently 18.63%.

Analyst Ratings Changes

A number of brokerages have issued reports on NOV. Royal Bank of Canada upgraded NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Monday. ATB Capital reiterated a “sector perform” rating and issued a $19.00 price target on shares of NOV in a research note on Tuesday, December 10th. Seaport Res Ptn lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Piper Sandler increased their price target on shares of NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Finally, Atb Cap Markets downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.60.

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.