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

New York State Common Retirement Fund trimmed its stake in NOV Inc. (NYSE:NOV) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 owned approximately 0.42% of NOV worth $23,767,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. increased its stake in NOV by 12,344.0% in the fourth quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock valued at $179,718,000 after purchasing an additional 12,210,514 shares during the last quarter. Pzena Investment Management LLC increased its stake in NOV by 22.3% in the third quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock valued at $687,143,000 after purchasing an additional 7,851,220 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in NOV by 23.1% in 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 purchasing an additional 6,963,660 shares during the last quarter. Weiss Asset Management LP acquired a new position in NOV in the third quarter valued at $35,709,000. Finally, Greenhaven Associates Inc. increased 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 valued at $48,049,000 after purchasing an additional 1,255,666 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

NOV Price Performance

Shares of NYSE NOV opened at $15.10 on Friday. NOV Inc. has a 1-year low of $13.94 and a 1-year high of $21.20. The business has a 50-day moving average of $14.95 and a 200-day moving average of $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 price-to-earnings ratio of 9.38, a PEG ratio of 1.01 and a beta of 1.64.

NOV (NYSE:NOV) last issued its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping 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%. On average, equities analysts anticipate that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

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

Analyst Ratings Changes

NOV has been the subject of several analyst reports. ATB Capital reiterated a “sector perform” rating and issued a $19.00 target price on shares of NOV in a research note on Tuesday, December 10th. Piper Sandler upped their target price on NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Wells Fargo & Company dropped their target price on NOV from $16.00 to $15.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. TD Cowen lowered their price target on NOV from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, Susquehanna lowered their price target on NOV from $22.00 to $21.00 and set a “positive” rating for the company in a research report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $19.60.

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.