Teacher Retirement System of Texas lifted its holdings in shares of NOV Inc. (NYSE:NOV - Free Report) by 30.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,810 shares of the oil and gas exploration company's stock after purchasing an additional 36,305 shares during the quarter. Teacher Retirement System of Texas' holdings in NOV were worth $2,260,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of NOV. UMB Bank n.a. grew its stake in NOV by 222.3% in the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company's stock worth $34,000 after buying an additional 1,612 shares in the last quarter. Quarry LP purchased a new position in NOV in the third quarter worth $36,000. Signaturefd LLC increased its stake in NOV by 41.3% in the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company's stock valued at $38,000 after acquiring an additional 756 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in NOV during the fourth quarter valued at about $42,000. Finally, R Squared Ltd bought a new stake in NOV during the fourth quarter worth about $44,000. 93.27% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
NOV has been the topic of a number of research reports. Barclays raised their price objective on NOV from $12.00 to $13.00 and gave the company an "underweight" rating in a report on Tuesday, February 18th. Atb Cap Markets lowered shares of NOV from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Piper Sandler upped their price objective on shares of NOV from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Evercore ISI reiterated an "in-line" rating and issued a $18.00 target price (down previously from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada upgraded shares of NOV from a "sector perform" rating to an "outperform" rating and set a $22.00 price target for the company in a research report on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, NOV has a consensus rating of "Hold" and an average price target of $19.60.
Check Out Our Latest Research Report on NOV
NOV Trading Down 2.1 %
Shares of NOV stock traded down $0.32 during midday trading on Friday, reaching $14.96. 2,375,477 shares of the company's stock traded hands, compared to its average volume of 3,793,343. The company has a market cap of $5.70 billion, a PE ratio of 9.29, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. The stock has a 50 day moving average of $15.00 and a 200-day moving average of $15.39. NOV Inc. has a 12 month low of $13.78 and a 12 month high of $21.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46.
NOV (NYSE:NOV - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. As a group, equities analysts expect that NOV Inc. will post 1.4 EPS for the current fiscal year.
NOV Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 annualized dividend and a yield of 2.01%. NOV's payout ratio is 18.63%.
NOV Company Profile
(
Free Report)
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.
Featured Articles
Before you consider NOV, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NOV wasn't on the list.
While NOV currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
