NOV Inc. (NYSE:NOV) Stock Holdings Lifted by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury increased its holdings in shares of NOV Inc. (NYSE:NOV - Free Report) by 11.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 233,194 shares of the oil and gas exploration company's stock after acquiring an additional 24,339 shares during the quarter. State of Tennessee Department of Treasury owned approximately 0.06% of NOV worth $3,405,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of NOV. Huntington National Bank raised its position in shares of NOV by 88.7% during the 4th quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company's stock worth $32,000 after purchasing an additional 1,034 shares during the period. Covestor Ltd lifted its stake in 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 buying an additional 1,655 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of NOV by 222.3% during the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company's stock valued at $34,000 after acquiring an additional 1,612 shares during the period. Signaturefd LLC grew its position in shares of NOV by 41.3% during the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company's stock worth $38,000 after acquiring an additional 756 shares during the last quarter. Finally, CoreFirst Bank & Trust acquired a new stake in shares of NOV in the 4th quarter worth about $41,000. Institutional investors own 93.27% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on NOV shares. Piper Sandler raised their price target on shares of NOV from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Evercore ISI restated an "in-line" rating and issued a $18.00 target price (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Seaport Res Ptn lowered NOV from a "strong-buy" rating to a "hold" rating in a research report on Sunday, January 5th. Susquehanna cut their price objective on shares of NOV from $21.00 to $19.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Finally, The Goldman Sachs Group decreased their target price on shares of NOV from $16.00 to $13.00 and set a "sell" rating for the company in a research report on Thursday, April 10th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $18.38.

NOV Stock Down 3.1 %

NYSE:NOV traded down $0.37 during trading hours on Wednesday, hitting $11.63. 8,172,870 shares of the stock traded hands, compared to its average volume of 3,894,251. The firm has a 50 day moving average price of $13.69 and a 200 day moving average price of $14.78. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 7.22, a PEG ratio of 1.02 and a beta of 1.35. NOV Inc. has a fifty-two week low of $10.84 and a fifty-two week high of $21.20. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26.

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 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.06). NOV had a net margin of 7.16% and a return on equity of 9.88%. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the firm posted $0.30 earnings per share. The firm's quarterly revenue was down 2.4% on a year-over-year basis. Equities research analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Friday, March 14th. NOV's dividend payout ratio is currently 18.63%.

NOV Company 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.