Strs Ohio Cuts Stock Position in NOV Inc. (NYSE:NOV)

Strs Ohio trimmed its position in shares of NOV Inc. (NYSE:NOV) by 13.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 235,540 shares of the oil and gas exploration company’s stock after selling 35,329 shares during the quarter. Strs Ohio’s holdings in NOV were worth $4,776,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in NOV. FMR LLC increased its position in shares of NOV by 30.9% during the third 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 in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of NOV by 48.2% during the fourth 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 in the last quarter. Invesco Ltd. increased its position in shares of NOV by 88.0% during the first quarter. Invesco Ltd. now owns 5,810,818 shares of the oil and gas exploration company’s stock worth $113,950,000 after purchasing an additional 2,720,566 shares in the last quarter. BlackRock Inc. increased its position in shares of NOV by 6.5% during the first quarter. BlackRock Inc. now owns 36,323,702 shares of the oil and gas exploration company’s stock worth $712,308,000 after purchasing an additional 2,227,845 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of NOV by 312.2% during the fourth quarter. Alliancebernstein L.P. now owns 2,523,652 shares of the oil and gas exploration company’s stock worth $52,719,000 after purchasing an additional 1,911,356 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Christy Lynn Novak sold 3,500 shares of the stock in a transaction dated 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 SEC, which is available through this hyperlink. 1.85% of the stock is owned by corporate insiders.

NOV Stock Performance

Shares of NOV stock opened at $18.50 on Friday. NOV Inc. has a 52 week low of $14.05 and a 52 week high of $21.91. The business’s fifty day simple moving average is $18.42 and its 200-day simple moving average is $19.20. The firm has a market cap of $7.32 billion, a PE ratio of 7.37, a price-to-earnings-growth ratio of 0.80 and a beta of 1.74. The company has a quick ratio of 1.51, a current ratio of 2.40 and a debt-to-equity ratio of 0.27.

NOV (NYSE:NOV) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas exploration company reported $1.51 EPS for the quarter, beating 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 business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the company posted $0.26 EPS. The company’s quarterly revenue was up 13.0% on a year-over-year basis. Equities analysts forecast that NOV Inc. will post 1.52 earnings per share for the current year.

NOV Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently commented on NOV. TD Cowen dropped their price target on NOV from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Monday, February 5th. Raymond James dropped their target price on NOV from $28.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, February 5th. Benchmark cut NOV from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Piper Sandler dropped their target price on NOV from $25.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, February 20th. Finally, Stifel Nicolaus dropped their target price on NOV from $28.00 to $26.00 and set a “buy” rating for the company in a report on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $24.36.

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.