NOV Inc. (NYSE:NOV) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its stake in shares of NOV Inc. (NYSE:NOV) by 4.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 143,002 shares of the oil and gas exploration company’s stock after selling 7,124 shares during the period. Public Employees Retirement System of Ohio’s holdings in NOV were worth $2,284,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Pzena Investment Management LLC grew its stake in NOV by 22.3% during the 3rd quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock valued at $687,143,000 after purchasing an additional 7,851,220 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in NOV by 23.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company’s stock valued at $593,336,000 after buying an additional 6,963,660 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in NOV by 40.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,138,093 shares of the oil and gas exploration company’s stock worth $230,743,000 after buying an additional 3,470,860 shares during the period. Bank of New York Mellon Corp raised its position in NOV by 67.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 9,928,911 shares of the oil and gas exploration company’s stock worth $188,749,000 after buying an additional 3,989,095 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in NOV by 232.6% during the 2nd quarter. AQR Capital Management LLC now owns 4,888,891 shares of the oil and gas exploration company’s stock valued at $92,938,000 after acquiring an additional 3,418,885 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NOV. BMO Capital Markets cut their price objective on shares of NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Thursday, October 10th. Barclays dropped their target price on NOV from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. Morgan Stanley decreased their price target on NOV from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, September 16th. TD Cowen dropped their price objective on shares of NOV from $28.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Finally, Susquehanna cut their target price on shares of NOV from $22.00 to $21.00 and set a “positive” rating for the company in a report on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, NOV presently has a consensus rating of “Hold” and an average price target of $20.64.

NOV Price Performance

NYSE:NOV opened at $14.56 on Wednesday. NOV Inc. has a one year low of $14.48 and a one year high of $21.23. The stock has a market cap of $5.66 billion, a PE ratio of 5.37, a P/E/G ratio of 0.87 and a beta of 1.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.57. The stock has a 50 day moving average price of $15.77 and a 200 day moving average price of $17.04.

NOV Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Friday, December 6th. NOV’s dividend payout ratio (DPR) is presently 11.07%.

Insider Activity

In other news, Director David D. Harrison sold 1,784 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total transaction of $28,722.40. Following the completion of the transaction, the director now directly owns 110,951 shares in the company, valued at approximately $1,786,311.10. This represents a 1.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.85% of the company’s stock.

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.