New York State Common Retirement Fund Sells 327,721 Shares of NOV Inc. (NYSE:NOV)

New York State Common Retirement Fund lessened its holdings in shares of NOV Inc. (NYSE:NOV) by 10.3% during the 4th quarter, HoldingsChannel reports. The fund owned 2,867,630 shares of the oil and gas exploration company’s stock after selling 327,721 shares during the quarter. New York State Common Retirement Fund’s holdings in NOV were worth $58,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of NOV. CWM LLC boosted its stake in shares of NOV by 17.9% during the 3rd quarter. CWM LLC now owns 4,944 shares of the oil and gas exploration company’s stock worth $103,000 after acquiring an additional 752 shares during the last quarter. Oak Thistle LLC purchased a new position in shares of NOV during the 3rd quarter worth $614,000. Covenant Partners LLC purchased a new position in shares of NOV during the 3rd quarter worth $260,000. Commonwealth Equity Services LLC lifted its stake in shares of NOV by 15.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 22,967 shares of the oil and gas exploration company’s stock valued at $480,000 after buying an additional 3,129 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in shares of NOV by 49.2% during the 3rd quarter. Raymond James & Associates now owns 295,598 shares of the oil and gas exploration company’s stock valued at $6,178,000 after buying an additional 97,537 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NOV shares. Piper Sandler lowered their target price on shares of NOV from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 20th. TD Cowen decreased their price target on shares of NOV from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Monday, February 5th. Benchmark cut shares of NOV from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Stifel Nicolaus decreased their price target on shares of NOV from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 price target on shares of NOV in a research note on Tuesday, February 6th. Two investment 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $24.36.

Insider Buying and Selling at NOV

In other news, CAO Christy Lynn Novak sold 3,500 shares of NOV stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $17.43, for a total value of $61,005.00. Following the sale, the chief accounting officer now owns 114,212 shares in the company, valued at $1,990,715.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.85% of the stock is owned by corporate insiders.

NOV Price Performance

NYSE NOV opened at $18.86 on Wednesday. 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 firm’s 50 day moving average price is $18.51 and its 200-day moving average price is $19.18. NOV Inc. has a 52-week low of $14.05 and a 52-week high of $21.91. The company has a market cap of $7.46 billion, a PE ratio of 7.51, a P/E/G ratio of 0.81 and a beta of 1.74.

NOV (NYSE:NOV) last announced its earnings results on Friday, February 2nd. The oil and gas exploration company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $0.41 by $1.10. NOV had a net margin of 11.57% and a return on equity of 10.79%. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the firm earned $0.26 earnings per share. NOV’s revenue was up 13.0% compared to the same quarter last year. Sell-side analysts forecast that NOV Inc. will post 1.52 EPS for the current fiscal year.

NOV Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.06%. NOV’s payout ratio is 7.97%.

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.