New York State Teachers Retirement System Increases Position in NOV Inc. (NYSE:NOV)

New York State Teachers Retirement System grew its stake in NOV Inc. (NYSE:NOV) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 515,898 shares of the oil and gas exploration company’s stock after acquiring an additional 11,292 shares during the quarter. New York State Teachers Retirement System’s holdings in NOV were worth $10,462,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NOV. Covestor Ltd increased its holdings in shares of NOV by 94.4% in the 1st quarter. Covestor Ltd now owns 1,287 shares of the oil and gas exploration company’s stock valued at $25,000 after acquiring an additional 625 shares during the period. CENTRAL TRUST Co grew its stake in NOV by 85.4% during the 3rd quarter. CENTRAL TRUST Co now owns 1,259 shares of the oil and gas exploration company’s stock worth $26,000 after buying an additional 580 shares during the last quarter. Acadian Asset Management LLC purchased a new position in NOV during the 1st quarter worth $34,000. Belpointe Asset Management LLC grew its stake in NOV by 66.0% during the 1st quarter. Belpointe Asset Management LLC now owns 2,491 shares of the oil and gas exploration company’s stock worth $46,000 after buying an additional 990 shares during the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new position in NOV during the 4th quarter worth $49,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NOV has been the topic of several research analyst reports. StockNews.com upgraded NOV from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Stifel Nicolaus dropped their target price on NOV from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. Raymond James dropped their target price on NOV from $28.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, February 5th. TD Cowen dropped their target price on NOV from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Monday, February 5th. Finally, Susquehanna restated a “positive” rating and set a $26.00 target price on shares of NOV in a research note on Monday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $24.36.

Insider Activity

In other news, CAO Christy Lynn Novak sold 3,500 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $17.43, for a total value of $61,005.00. Following the completion of the transaction, the chief accounting officer now owns 114,212 shares of the company’s stock, valued at approximately $1,990,715.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.77% of the company’s stock.

NOV Stock Up 0.1 %

NOV stock opened at $20.27 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.51 and a current ratio of 2.40. The business’s 50-day simple moving average is $18.26 and its two-hundred day simple moving average is $19.27. The company has a market cap of $8.02 billion, a PE ratio of 8.08, a PEG ratio of 0.38 and a beta of 1.74. NOV Inc. has a fifty-two week low of $14.05 and a fifty-two week high of $21.91.

NOV (NYSE:NOV) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas exploration company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $1.10. The business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.26 billion. NOV had a return on equity of 10.79% and a net margin of 11.57%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 EPS. Equities analysts anticipate that NOV Inc. will post 1.54 EPS for the current year.

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.05 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.99%. NOV’s dividend payout ratio (DPR) is presently 7.97%.

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.