Strs Ohio Sells 35,329 Shares of NOV Inc. (NYSE:NOV)

Strs Ohio cut its stake in shares of NOV Inc. (NYSE:NOV) by 13.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 235,540 shares of the oil and gas exploration company’s stock after selling 35,329 shares during the quarter. Strs Ohio owned approximately 0.06% of NOV worth $4,776,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of NOV by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 38,925,240 shares of the oil and gas exploration company’s stock valued at $629,810,000 after acquiring an additional 349,025 shares during the period. BlackRock Inc. boosted its stake in NOV by 0.8% in the 1st quarter. BlackRock Inc. now owns 37,748,140 shares of the oil and gas exploration company’s stock worth $698,718,000 after purchasing an additional 284,784 shares during the period. FMR LLC boosted its stake in NOV by 30.9% in the 3rd quarter. FMR LLC now owns 18,514,921 shares of the oil and gas exploration company’s stock worth $386,962,000 after purchasing an additional 4,369,540 shares during the period. State Street Corp boosted its stake in NOV by 3.8% in the 2nd quarter. State Street Corp now owns 14,141,887 shares of the oil and gas exploration company’s stock worth $226,836,000 after purchasing an additional 513,846 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in NOV by 48.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,822,009 shares of the oil and gas exploration company’s stock worth $246,962,000 after purchasing an additional 3,843,096 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Insider Transactions at NOV

In other news, CAO Christy Lynn Novak sold 3,500 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $17.43, for a total transaction of $61,005.00. Following the transaction, the chief accounting officer now owns 114,212 shares of the company’s stock, valued at approximately $1,990,715.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.85% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. TD Cowen decreased their price objective on NOV from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday, February 5th. ATB Capital set a $33.00 price objective on NOV and gave the stock an “outperform” rating in a report on Friday, December 22nd. Stifel Nicolaus decreased their price objective on NOV from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, February 5th. Piper Sandler decreased their price objective on NOV from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday, February 20th. Finally, StockNews.com raised NOV from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, NOV currently has a consensus rating of “Hold” and a consensus price target of $24.36.

NOV Stock Performance

NOV stock opened at $18.50 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.40 and a debt-to-equity ratio of 0.27. The business’s fifty day simple moving average is $18.42 and its two-hundred day simple moving average is $19.20. NOV Inc. has a twelve month low of $14.05 and a twelve month high of $21.91. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 7.37, a PEG ratio of 0.80 and a beta of 1.74.

NOV (NYSE:NOV) last released its earnings results on Friday, February 2nd. The oil and gas exploration company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $1.10. NOV had a return on equity of 10.79% and a net margin of 11.57%. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the firm posted $0.26 earnings per share. The business’s revenue was up 13.0% compared to the same quarter last year. Analysts predict that NOV Inc. will post 1.52 earnings per share for the current year.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Wednesday, March 13th. NOV’s payout ratio is 7.97%.

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.