Arizona State Retirement System Sells 2,028 Shares of NOV Inc. (NYSE:NOV)

Arizona State Retirement System decreased its holdings in shares of NOV Inc. (NYSE:NOV) by 1.8% in the 4th quarter, Holdings Channel reports. The firm owned 110,078 shares of the oil and gas exploration company’s stock after selling 2,028 shares during the period. Arizona State Retirement System’s holdings in NOV were worth $2,232,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of NOV. CENTRAL TRUST Co grew its holdings in shares of NOV by 85.4% during the 3rd quarter. CENTRAL TRUST Co now owns 1,259 shares of the oil and gas exploration company’s stock valued at $26,000 after purchasing an additional 580 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in NOV by 3.3% during the third quarter. Commonwealth Equity Services LLC now owns 18,956 shares of the oil and gas exploration company’s stock valued at $306,000 after buying an additional 598 shares during the period. Covestor Ltd grew its stake in shares of NOV by 94.4% during the first quarter. Covestor Ltd now owns 1,287 shares of the oil and gas exploration company’s stock valued at $25,000 after buying an additional 625 shares during the last quarter. Kestra Advisory Services LLC increased its holdings in shares of NOV by 3.2% in the second quarter. Kestra Advisory Services LLC now owns 21,269 shares of the oil and gas exploration company’s stock worth $341,000 after buying an additional 653 shares during the period. Finally, Park Avenue Securities LLC lifted its stake in shares of NOV by 4.7% in the 3rd quarter. Park Avenue Securities LLC now owns 15,135 shares of the oil and gas exploration company’s stock valued at $316,000 after acquiring an additional 676 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Christy Lynn Novak sold 3,500 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $17.43, for a total value of $61,005.00. Following the completion of the transaction, the chief accounting officer now directly owns 114,212 shares in the company, valued at approximately $1,990,715.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NOV. ATB Capital set a $33.00 price target on NOV and gave the stock an “outperform” rating in a research report on Friday, December 22nd. Susquehanna reaffirmed a “positive” rating and issued a $26.00 target price on shares of NOV in a research note on Monday. Raymond James lowered their price target on shares of NOV from $28.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, February 5th. StockNews.com raised shares of NOV from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Benchmark downgraded shares of NOV from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $24.36.

NOV Price Performance

NOV stock opened at $20.09 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.51. NOV Inc. has a 1 year low of $14.05 and a 1 year high of $21.91. The firm has a 50-day moving average of $18.26 and a 200 day moving average of $19.27. The company has a market cap of $7.95 billion, a P/E ratio of 8.00, a PEG ratio of 0.38 and a beta of 1.74.

NOV (NYSE:NOV) last announced its earnings results on Friday, February 2nd. The oil and gas exploration company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $1.10. NOV had a return on equity of 10.79% and a net margin of 11.57%. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the company earned $0.26 EPS. The business’s revenue was up 13.0% compared to the same quarter last year. On average, sell-side analysts forecast that NOV Inc. will post 1.54 EPS for the current year.

NOV Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.00%. The ex-dividend date was Wednesday, March 13th. NOV’s dividend payout ratio is currently 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.