Oregon Public Employees Retirement Fund Lowers Position in NOV Inc. (NYSE:NOV)

Oregon Public Employees Retirement Fund lowered its stake in shares of NOV Inc. (NYSE:NOV) by 15.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,127 shares of the oil and gas exploration company’s stock after selling 15,178 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in NOV were worth $1,561,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rise Advisors LLC purchased a new stake in shares of NOV in the first quarter valued at about $26,000. Rothschild Investment LLC purchased a new stake in NOV in the 2nd quarter valued at about $28,000. Riverview Trust Co bought a new position in shares of NOV during the 1st quarter worth approximately $39,000. SYSTM Wealth Solutions LLC purchased a new position in shares of NOV in the 1st quarter worth approximately $78,000. Finally, Signaturefd LLC grew its holdings in shares of NOV by 67.6% in the second quarter. Signaturefd LLC now owns 4,443 shares of the oil and gas exploration company’s stock valued at $84,000 after acquiring an additional 1,792 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on NOV shares. Evercore ISI raised NOV to a “strong-buy” rating in a research report on Friday, July 26th. Bank of America reduced their price target on shares of NOV from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Piper Sandler lowered their price objective on shares of NOV from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. TD Cowen raised their price target on shares of NOV from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Benchmark reiterated a “hold” rating on shares of NOV in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.58.

NOV Trading Down 2.5 %

Shares of NOV stock opened at $16.27 on Friday. The company’s 50-day moving average price is $18.25 and its 200-day moving average price is $18.44. The company has a current ratio of 2.61, a quick ratio of 1.64 and a debt-to-equity ratio of 0.27. NOV Inc. has a 12-month low of $16.24 and a 12-month high of $21.80. The company has a market cap of $6.44 billion, a price-to-earnings ratio of 6.53, a PEG ratio of 0.53 and a beta of 1.70.

NOV (NYSE:NOV) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.35 by $0.22. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.19 billion. NOV had a net margin of 11.88% and a return on equity of 10.97%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the firm earned $0.39 EPS. On average, equities analysts expect that NOV Inc. will post 1.63 earnings per share for the current fiscal year.

NOV Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.075 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.30 dividend on an annualized basis and a yield of 1.84%. NOV’s dividend payout ratio is currently 12.05%.

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.