Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 855 Shares of NOV Inc. (NYSE:NOV)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its stake in NOV Inc. (NYSE:NOV) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,931 shares of the oil and gas exploration company’s stock after selling 855 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in NOV were worth $1,255,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. grew its holdings in shares of NOV by 10.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 581,446 shares of the oil and gas exploration company’s stock worth $8,489,000 after purchasing an additional 56,665 shares during the last quarter. Greenhaven Associates Inc. grew its stake in NOV by 61.7% during the fourth quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock worth $48,049,000 after buying an additional 1,255,666 shares during the last quarter. Barclays PLC increased its holdings in shares of NOV by 120.1% during the third quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock worth $7,561,000 after buying an additional 258,392 shares in the last quarter. Weiss Asset Management LP bought a new position in shares of NOV in the third quarter valued at approximately $35,709,000. Finally, Bank of Montreal Can boosted its holdings in shares of NOV by 519.1% in the 3rd quarter. Bank of Montreal Can now owns 438,068 shares of the oil and gas exploration company’s stock worth $7,000,000 after acquiring an additional 367,308 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Stock Performance

Shares of NYSE:NOV opened at $15.47 on Wednesday. The firm’s 50 day simple moving average is $15.00 and its 200 day simple moving average is $15.40. NOV Inc. has a fifty-two week low of $13.78 and a fifty-two week high of $21.20. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 9.61, a P/E/G ratio of 1.02 and a beta of 1.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64.

NOV (NYSE:NOV) last posted its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. As a group, sell-side analysts forecast that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.075 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 1.94%. NOV’s dividend payout ratio (DPR) is currently 18.63%.

Wall Street Analysts Forecast Growth

NOV has been the subject of a number of recent analyst reports. Royal Bank of Canada raised NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Monday. Barclays lifted their price target on NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a report on Tuesday, February 18th. Piper Sandler increased their price objective on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. ATB Capital restated a “sector perform” rating and issued a $19.00 price objective on shares of NOV in a research report on Tuesday, December 10th. Finally, Atb Cap Markets lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $19.60.

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.