New York State Common Retirement Fund Has $28.20 Million Holdings in NOV Inc. (NYSE:NOV)

New York State Common Retirement Fund reduced its stake in shares of NOV Inc. (NYSE:NOV) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,765,698 shares of the oil and gas exploration company’s stock after selling 16,957 shares during the period. New York State Common Retirement Fund owned 0.45% of NOV worth $28,198,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rothschild Investment LLC acquired a new stake in shares of NOV in the second quarter valued at about $28,000. American National Bank & Trust acquired a new stake in NOV during the 3rd quarter valued at approximately $39,000. International Assets Investment Management LLC raised 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 purchasing an additional 2,735 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of NOV in the 2nd quarter valued at $78,000. Finally, Signaturefd LLC increased its position in shares of NOV by 67.6% during the second quarter. Signaturefd LLC now owns 4,443 shares of the oil and gas exploration company’s stock worth $84,000 after buying an additional 1,792 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NOV shares. JPMorgan Chase & Co. dropped their target price on shares of NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Morgan Stanley cut their target price on NOV from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 target price on shares of NOV in a report on Monday, July 29th. Piper Sandler cut their price target on NOV from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Finally, BMO Capital Markets reduced their price objective on shares of NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a research report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.93.

NOV Price Performance

Shares of NYSE NOV opened at $15.17 on Monday. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 0.89 and a beta of 1.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.57. NOV Inc. has a fifty-two week low of $14.98 and a fifty-two week high of $21.23. The firm’s 50-day simple moving average is $16.26 and its 200 day simple moving average is $17.69.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.075 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.98%. NOV’s dividend payout ratio is presently 11.07%.

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.