New York State Teachers Retirement System Has $8.43 Million Stake in NOV Inc. (NYSE:NOV)

New York State Teachers Retirement System boosted its holdings in NOV Inc. (NYSE:NOV) by 1.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 528,038 shares of the oil and gas exploration company’s stock after purchasing an additional 6,554 shares during the quarter. New York State Teachers Retirement System’s holdings in NOV were worth $8,433,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wintrust Investments LLC raised its stake in NOV by 631.6% in the 1st quarter. Wintrust Investments LLC now owns 81,943 shares of the oil and gas exploration company’s stock worth $1,600,000 after purchasing an additional 70,743 shares in the last quarter. Stanley Laman Group Ltd. acquired a new stake in NOV in the 2nd quarter worth about $4,031,000. Deprince Race & Zollo Inc. raised its position in shares of NOV by 1,194.1% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,706,017 shares of the oil and gas exploration company’s stock valued at $32,431,000 after buying an additional 1,574,188 shares in the last quarter. WINTON GROUP Ltd raised its position in shares of NOV by 1,866.3% in the 2nd quarter. WINTON GROUP Ltd now owns 841,078 shares of the oil and gas exploration company’s stock valued at $15,989,000 after buying an additional 798,303 shares in the last quarter. Finally, Duality Advisers LP acquired a new position in shares of NOV in the 1st quarter valued at approximately $2,646,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Trading Down 2.2 %

NOV opened at $15.17 on Monday. NOV Inc. has a fifty-two week low of $14.98 and a fifty-two week high of $21.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 0.89 and a beta of 1.66. The company’s 50 day moving average price is $16.26 and its two-hundred day moving average price is $17.69.

NOV Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Friday, September 13th. NOV’s payout ratio is 11.07%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Evercore ISI upgraded shares of NOV to a “strong-buy” rating in a research report on Friday, July 26th. TD Cowen dropped their target price on shares of NOV from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 target price on shares of NOV in a research report on Monday, July 29th. JPMorgan Chase & Co. dropped their target price on shares of NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Finally, BMO Capital Markets decreased their price target on shares of NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.93.

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.