Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $1.26 Million Stake in NOV Inc. (NYSE:NOV)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its stake in NOV Inc. (NYSE:NOV) by 1.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 85,931 shares of the oil and gas exploration company’s stock after selling 855 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in NOV were worth $1,255,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in NOV. Quest Partners LLC bought a new position in shares of NOV during the third quarter worth about $96,000. Charles Schwab Investment Management Inc. boosted its position in NOV by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,927,965 shares of the oil and gas exploration company’s stock worth $46,760,000 after acquiring an additional 55,056 shares during the last quarter. Cerity Partners LLC boosted its position in NOV by 5.4% during the 3rd quarter. Cerity Partners LLC now owns 64,240 shares of the oil and gas exploration company’s stock worth $1,026,000 after acquiring an additional 3,274 shares during the last quarter. Bank of Montreal Can boosted its holdings in NOV by 519.1% during the third quarter. Bank of Montreal Can now owns 438,068 shares of the oil and gas exploration company’s stock worth $7,000,000 after purchasing an additional 367,308 shares during the last quarter. Finally, Qsemble Capital Management LP bought a new position in NOV in the third quarter valued at $1,928,000. Institutional investors own 93.27% of the company’s stock.

NOV Stock Performance

NYSE:NOV opened at $15.47 on Wednesday. The stock has a 50 day simple moving average of $15.00 and a 200 day simple moving average of $15.40. The stock has a market cap of $5.89 billion, a P/E ratio of 9.61, a PEG ratio of 1.02 and a beta of 1.66. NOV Inc. has a 1-year low of $13.78 and a 1-year 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) 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 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%. Research analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.94%. NOV’s payout ratio is presently 18.63%.

Analysts Set New Price Targets

NOV has been the subject of several analyst reports. Raymond James raised their price objective on NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Evercore ISI restated an “in-line” rating and issued a $18.00 price target (down from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Seaport Res Ptn downgraded NOV from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 5th. Barclays raised their target price on shares of NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Tuesday, February 18th. Finally, Piper Sandler upped their price target on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $19.60.

NOV 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.