State of New Jersey Common Pension Fund D Sells 17,642 Shares of NOV Inc. (NYSE:NOV)

State of New Jersey Common Pension Fund D cut its stake in shares of NOV Inc. (NYSE:NOV) by 12.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 127,859 shares of the oil and gas exploration company’s stock after selling 17,642 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in NOV were worth $2,042,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Innealta Capital LLC boosted its position in shares of NOV by 49.9% during the 3rd quarter. Innealta Capital LLC now owns 15,448 shares of the oil and gas exploration company’s stock worth $247,000 after purchasing an additional 5,140 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in NOV by 176.4% during the third quarter. Harbor Capital Advisors Inc. now owns 524,781 shares of the oil and gas exploration company’s stock worth $8,381,000 after buying an additional 334,925 shares during the last quarter. HM Payson & Co. lifted its stake in shares of NOV by 2.1% in the third quarter. HM Payson & Co. now owns 49,000 shares of the oil and gas exploration company’s stock valued at $783,000 after buying an additional 1,000 shares in the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of NOV by 27.7% in the 3rd quarter. Pinnacle Associates Ltd. now owns 12,838 shares of the oil and gas exploration company’s stock worth $205,000 after acquiring an additional 2,788 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its stake in NOV by 1.3% during the 3rd quarter. New York State Teachers Retirement System now owns 528,038 shares of the oil and gas exploration company’s stock valued at $8,433,000 after purchasing an additional 6,554 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Price Performance

NOV stock opened at $15.96 on Friday. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 5.89, a PEG ratio of 0.94 and a beta of 1.66. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26. The business has a 50-day simple moving average of $16.02 and a 200 day simple moving average of $17.52. NOV Inc. has a 52 week low of $14.98 and a 52 week high of $21.23.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, December 6th. NOV’s dividend payout ratio (DPR) is 11.07%.

Analysts Set New Price Targets

Several brokerages recently issued reports on NOV. Bank of America cut their target price on NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Citigroup lowered shares of NOV from a “buy” rating to a “neutral” rating and dropped their price target for the company from $21.00 to $18.00 in a research report on Monday, November 11th. Stifel Nicolaus cut their price target on shares of NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Evercore ISI upgraded NOV to a “strong-buy” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. cut their target price on shares of NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, NOV has a consensus rating of “Hold” and an average price target of $21.64.

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.