New York State Common Retirement Fund Cuts Stake in NOV Inc. (NYSE:NOV)

New York State Common Retirement Fund trimmed its holdings in NOV Inc. (NYSE:NOV - Free Report) by 10.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,452,865 shares of the oil and gas exploration company's stock after selling 175,035 shares during the quarter. New York State Common Retirement Fund owned approximately 0.38% of NOV worth $22,113,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mariner LLC lifted its holdings in shares of NOV by 2.9% in the fourth quarter. Mariner LLC now owns 24,201 shares of the oil and gas exploration company's stock worth $353,000 after buying an additional 672 shares in the last quarter. Signaturefd LLC lifted its position in shares of NOV by 41.3% in the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company's stock worth $38,000 after buying an additional 756 shares in the last quarter. Huntington National Bank boosted its stake in NOV by 88.7% during the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company's stock valued at $32,000 after buying an additional 1,034 shares during the last quarter. ProShare Advisors LLC grew its holdings in NOV by 6.1% during the 4th quarter. ProShare Advisors LLC now owns 18,204 shares of the oil and gas exploration company's stock valued at $266,000 after buying an additional 1,042 shares in the last quarter. Finally, Coppell Advisory Solutions LLC raised its holdings in shares of NOV by 20.1% during the 4th quarter. Coppell Advisory Solutions LLC now owns 7,317 shares of the oil and gas exploration company's stock worth $106,000 after acquiring an additional 1,225 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Piper Sandler cut their target price on shares of NOV from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Stifel Nicolaus dropped their price objective on shares of NOV from $23.00 to $22.00 and set a "buy" rating for the company in a research note on Wednesday. Wells Fargo & Company reduced their target price on shares of NOV from $11.00 to $10.00 and set an "underweight" rating on the stock in a report on Thursday, June 5th. Royal Bank Of Canada lowered their price target on shares of NOV from $20.00 to $19.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group reduced their price objective on NOV from $16.00 to $13.00 and set a "sell" rating on the stock in a research note on Thursday, April 10th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $17.31.

NOV Trading Down 0.4%

Shares of NYSE:NOV traded down $0.05 on Friday, hitting $12.90. 3,696,184 shares of the company's stock were exchanged, compared to its average volume of 4,151,447. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 8.60, a price-to-earnings-growth ratio of 3.29 and a beta of 1.28. NOV Inc. has a 12 month low of $10.84 and a 12 month high of $21.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.65 and a quick ratio of 1.76. The business's 50 day simple moving average is $12.93 and its two-hundred day simple moving average is $13.70.

NOV (NYSE:NOV - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.06). The company had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.11 billion. NOV had a return on equity of 9.11% and a net margin of 6.68%. The company's quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 EPS. Analysts anticipate that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The company also recently declared a dividend, which was paid on Friday, June 13th. Investors of record on Tuesday, June 3rd were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a dividend yield of 3.63%. NOV's payout ratio is 20.00%.

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.