Treasurer of the State of North Carolina Trims Stock Holdings in NOV Inc. (NYSE:NOV)

Treasurer of the State of North Carolina trimmed its stake in NOV Inc. (NYSE:NOV) by 1.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 170,333 shares of the oil and gas exploration company’s stock after selling 1,710 shares during the period. Treasurer of the State of North Carolina’s holdings in NOV were worth $2,487,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. LSV Asset Management boosted its position in shares of NOV by 294.7% during the fourth quarter. LSV Asset Management now owns 1,193,300 shares of the oil and gas exploration company’s stock worth $17,422,000 after buying an additional 891,000 shares during the period. Capital Fund Management S.A. increased its stake in NOV by 125.5% during the fourth quarter. Capital Fund Management S.A. now owns 162,551 shares of the oil and gas exploration company’s stock worth $2,373,000 after purchasing an additional 90,482 shares during the period. CenterBook Partners LP acquired a new stake in shares of NOV during the fourth quarter worth about $1,054,000. Raymond James Financial Inc. purchased a new stake in NOV during the 4th quarter worth approximately $3,332,000. Finally, Cerity Partners LLC boosted its position in NOV by 101.8% in the 4th quarter. Cerity Partners LLC now owns 129,610 shares of the oil and gas exploration company’s stock valued at $1,906,000 after buying an additional 65,370 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Stock Performance

NYSE NOV opened at $12.52 on Friday. The business’s 50-day moving average price is $14.25 and its 200 day moving average price is $15.01. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. The firm has a market cap of $4.74 billion, a P/E ratio of 7.77, a P/E/G ratio of 1.02 and a beta of 1.35. NOV Inc. has a 52-week low of $10.84 and a 52-week high of $21.20.

NOV (NYSE:NOV) last released its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. On average, equities research analysts expect that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Friday, March 14th. NOV’s dividend payout ratio (DPR) is presently 18.63%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NOV shares. Seaport Res Ptn cut NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Stifel Nicolaus decreased their price target on shares of NOV from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday. Piper Sandler raised their price objective on shares of NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Royal Bank of Canada raised NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a report on Monday, March 24th. Finally, Barclays increased their price objective on NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a report on Tuesday, February 18th. Three equities 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 stock. According to data from MarketBeat.com, NOV currently has an average rating of “Hold” and an average price target of $19.00.

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.