NOV Inc. $NOV Shares Sold by New York State Teachers Retirement System

Key Points

• New York State Teachers Retirement System reduced its holdings in NOV Inc. by 12.5%, now owning approximately 0.12% of the company, valued at $5.53 million.
• NOV reported $0.29 EPS for the last quarter, slightly missing analysts' expectations, with revenue of $2.19 billion, showcasing a 1.3% year-over-year decline.
• The company's stock has seen recent fluctuations in analyst ratings, with targets set between $14.00 and $17.00, and currently holds a consensus rating of "Hold".

New York State Teachers Retirement System reduced its holdings in shares of NOV Inc. (NYSE:NOV - Free Report) by 12.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 445,174 shares of the oil and gas exploration company's stock after selling 63,706 shares during the quarter. New York State Teachers Retirement System owned approximately 0.12% of NOV worth $5,534,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in NOV. AQR Capital Management LLC boosted its position in shares of NOV by 88.9% during the 1st quarter. AQR Capital Management LLC now owns 7,146,949 shares of the oil and gas exploration company's stock worth $107,276,000 after acquiring an additional 3,362,853 shares in the last quarter. Nuveen LLC acquired a new position in shares of NOV during the 1st quarter worth about $33,742,000. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of NOV during the 1st quarter worth about $23,589,000. Dimensional Fund Advisors LP boosted its position in shares of NOV by 7.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 18,122,455 shares of the oil and gas exploration company's stock worth $275,818,000 after acquiring an additional 1,329,327 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of NOV during the 1st quarter worth about $19,915,000. 93.27% of the stock is owned by institutional investors and hedge funds.

NOV Stock Up 0.8%

NOV opened at $12.77 on Tuesday. The business has a 50 day moving average price of $12.97 and a two-hundred day moving average price of $12.76. The company has a quick ratio of 1.72, a current ratio of 2.58 and a debt-to-equity ratio of 0.26. The company has a market cap of $4.74 billion, a PE ratio of 10.46, a P/E/G ratio of 3.77 and a beta of 1.26. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $16.86.

NOV (NYSE:NOV - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The oil and gas exploration company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.16 billion. NOV had a net margin of 5.36% and a return on equity of 7.25%. The firm's revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.57 earnings per share. NOV has set its Q3 2025 guidance at EPS. As a group, research analysts anticipate that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.30 annualized dividend and a yield of 2.4%. NOV's dividend payout ratio is currently 24.59%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Susquehanna set a $17.00 price objective on NOV and gave the stock a "positive" rating in a research report on Wednesday, July 30th. Zacks Research raised NOV from a "strong sell" rating to a "hold" rating in a research report on Monday, October 6th. JPMorgan Chase & Co. cut NOV from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $17.00 to $15.00 in a research report on Wednesday, July 30th. Piper Sandler decreased their target price on NOV from $16.00 to $14.00 and set a "neutral" rating for the company in a research report on Thursday, August 14th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of NOV in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $15.79.

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.

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