NOV Inc. (NYSE:NOV) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its holdings in NOV Inc. (NYSE:NOV - Free Report) by 30.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 108,258 shares of the oil and gas exploration company's stock after selling 46,552 shares during the quarter. Teacher Retirement System of Texas' holdings in NOV were worth $1,648,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Canandaigua National Bank & Trust Co. boosted its holdings in shares of NOV by 2.5% in the first quarter. Canandaigua National Bank & Trust Co. now owns 61,363 shares of the oil and gas exploration company's stock valued at $934,000 after acquiring an additional 1,468 shares during the period. Canandaigua National Trust Co of Florida raised its stake in shares of NOV by 19.2% during the first quarter. Canandaigua National Trust Co of Florida now owns 36,159 shares of the oil and gas exploration company's stock worth $550,000 after purchasing an additional 5,819 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of NOV during the first quarter worth approximately $36,000. Moran Wealth Management LLC purchased a new stake in shares of NOV during the first quarter worth approximately $719,000. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of NOV during the first quarter worth approximately $373,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NOV. Wells Fargo & Company cut their price target on shares of NOV from $11.00 to $10.00 and set an "underweight" rating for the company in a report on Thursday, June 5th. Susquehanna dropped their target price on shares of NOV from $19.00 to $18.00 and set a "positive" rating for the company in a report on Tuesday, July 1st. Barclays cut their target price on shares of NOV from $13.00 to $11.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Royal Bank Of Canada dropped their price objective on NOV from $20.00 to $19.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Finally, Piper Sandler lowered their price objective on NOV from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Three research 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $17.38.

NOV Trading Down 0.4%

NOV opened at $13.71 on Friday. The company has a quick ratio of 1.76, a current ratio of 2.65 and a debt-to-equity ratio of 0.26. The firm's 50 day moving average is $12.85 and its 200-day moving average is $13.76. The firm has a market capitalization of $5.15 billion, a P/E ratio of 9.14, a P/E/G ratio of 3.45 and a beta of 1.28. NOV Inc. has a 52-week low of $10.84 and a 52-week high of $21.20.

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 the consensus estimate of $0.25 by ($0.06). The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.11 billion. NOV had a net margin of 6.68% and a return on equity of 9.11%. The firm's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.30 EPS. Analysts expect that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

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

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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