New York State Teachers Retirement System trimmed its holdings in shares of NOV Inc. (NYSE:NOV - Free Report) by 13.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 508,880 shares of the oil and gas exploration company's stock after selling 81,891 shares during the period. New York State Teachers Retirement System owned approximately 0.13% of NOV worth $7,745,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Huntington National Bank boosted its stake in shares of NOV by 88.7% in the 4th quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company's stock worth $32,000 after buying an additional 1,034 shares during the last quarter. Covestor Ltd lifted its position in shares of NOV by 282.9% in the fourth quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company's stock valued at $33,000 after acquiring an additional 1,655 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of NOV in the first quarter worth about $36,000. Signaturefd LLC increased its holdings 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 purchasing an additional 756 shares during the last quarter. Finally, CoreFirst Bank & Trust bought a new stake in shares of NOV in the fourth quarter worth about $41,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have weighed in on NOV. Susquehanna reduced their price objective on NOV from $19.00 to $18.00 and set a "positive" rating on the stock in a research note on Tuesday. Royal Bank Of Canada lowered their price target on NOV from $20.00 to $19.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Morgan Stanley lowered their price target on NOV from $18.00 to $15.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Barclays lowered their target price on NOV from $13.00 to $11.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. decreased their price objective on NOV from $20.00 to $17.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, NOV presently has an average rating of "Hold" and a consensus price target of $17.38.
View Our Latest Stock Report on NOV
NOV Trading Up 2.3%
NOV stock opened at $13.50 on Friday. The company has a current ratio of 2.65, a quick ratio of 1.76 and a debt-to-equity ratio of 0.26. NOV Inc. has a 12-month low of $10.84 and a 12-month high of $21.20. The stock has a market cap of $5.07 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 3.28 and a beta of 1.28. The business's 50-day moving average is $12.70 and its 200 day moving average is $13.78.
NOV (NYSE:NOV - Get Free Report) last released its earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.06). NOV had a return on equity of 9.11% and a net margin of 6.68%. The business had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.11 billion. During the same period last year, the business earned $0.30 earnings per share. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. On average, sell-side 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. Stockholders of record on Tuesday, June 3rd were given a dividend of $0.21 per share. This represents a dividend yield of 3.63%. The ex-dividend date of this dividend was Monday, June 2nd. NOV's payout ratio is presently 20.00%.
NOV Profile
(
Free Report)
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.
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