Retirement Systems of Alabama Sells 5,167 Shares of NOV Inc. (NYSE:NOV)

Retirement Systems of Alabama lowered its position in NOV Inc. (NYSE:NOV) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 473,092 shares of the oil and gas exploration company’s stock after selling 5,167 shares during the quarter. Retirement Systems of Alabama owned 0.12% of NOV worth $6,907,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Truist Financial Corp boosted its holdings in shares of NOV by 3.4% in the 2nd quarter. Truist Financial Corp now owns 29,729 shares of the oil and gas exploration company’s stock worth $565,000 after acquiring an additional 991 shares in the last quarter. HM Payson & Co. boosted its stake in NOV by 2.1% during the 3rd quarter. HM Payson & Co. now owns 49,000 shares of the oil and gas exploration company’s stock worth $783,000 after acquiring an additional 1,000 shares during the last quarter. KBC Group NV grew its holdings in NOV by 11.8% during the third quarter. KBC Group NV now owns 11,060 shares of the oil and gas exploration company’s stock valued at $177,000 after purchasing an additional 1,163 shares during the period. Verum Partners LLC increased its stake in NOV by 9.0% in the fourth quarter. Verum Partners LLC now owns 15,050 shares of the oil and gas exploration company’s stock valued at $220,000 after purchasing an additional 1,248 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in NOV by 222.3% in the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock worth $34,000 after purchasing an additional 1,612 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Activity at NOV

In other NOV news, Director David D. Harrison sold 1,784 shares of the firm’s 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 sale, the director now owns 110,951 shares of the company’s stock, valued at $1,786,311.10. This trade represents a 1.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.85% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NOV shares. Evercore ISI restated an “in-line” rating and issued a $18.00 price target (down from $25.00) on shares of NOV in a report on Wednesday, January 15th. Citigroup cut NOV from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $21.00 to $18.00 in a research note on Monday, November 11th. Seaport Res Ptn lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Royal Bank of Canada increased their price objective on shares of NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Thursday. Finally, ATB Capital reaffirmed a “sector perform” rating and issued a $19.00 price objective on shares of NOV in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $19.47.

NOV Stock Performance

Shares of NYSE NOV opened at $15.62 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.46. The stock has a 50 day moving average price of $14.91 and a 200 day moving average price of $16.10. The stock has a market capitalization of $6.08 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 1.00 and a beta of 1.64. NOV Inc. has a 52 week low of $13.94 and a 52 week high of $21.20.

NOV (NYSE:NOV) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. Analysts predict that NOV Inc. will post 1.42 earnings per share for the current fiscal year.

NOV Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.30 annualized dividend and a dividend yield of 1.92%. NOV’s dividend payout ratio is presently 18.63%.

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.