Teachers Retirement System of The State of Kentucky Cuts Stock Position in NOV Inc. (NYSE:NOV)

Teachers Retirement System of The State of Kentucky cut its holdings in shares of NOV Inc. (NYSE:NOV) by 2.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 131,043 shares of the oil and gas exploration company’s stock after selling 3,460 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in NOV were worth $2,093,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Deprince Race & Zollo Inc. increased its holdings in NOV by 1,194.1% during the second quarter. Deprince Race & Zollo Inc. now owns 1,706,017 shares of the oil and gas exploration company’s stock worth $32,431,000 after buying an additional 1,574,188 shares during the last quarter. WINTON GROUP Ltd increased its stake in shares of NOV by 1,866.3% during the 2nd quarter. WINTON GROUP Ltd now owns 841,078 shares of the oil and gas exploration company’s stock worth $15,989,000 after purchasing an additional 798,303 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of NOV by 1,590.1% in the 3rd quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock worth $46,000 after purchasing an additional 2,735 shares during the period. Bank of Montreal Can lifted its stake in NOV by 519.1% in the third quarter. Bank of Montreal Can now owns 438,068 shares of the oil and gas exploration company’s stock valued at $7,000,000 after purchasing an additional 367,308 shares during the last quarter. Finally, Weiss Asset Management LP bought a new position in NOV during the third quarter valued at $35,709,000. 93.27% of the stock is currently owned by institutional investors.

Insider Activity at NOV

In other news, Director David D. Harrison sold 1,784 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total value of $28,722.40. Following the transaction, the director now owns 110,951 shares of the company’s stock, valued at $1,786,311.10. This represents a 1.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.85% of the stock is currently owned by insiders.

Analyst Ratings Changes

NOV has been the topic of several research reports. Susquehanna lowered their target price on NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a research note on Monday, October 28th. JPMorgan Chase & Co. lowered their price objective on NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Morgan Stanley cut their target price on shares of NOV from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Citigroup lowered shares of NOV from a “buy” rating to a “neutral” rating and lowered their price target for the company from $21.00 to $18.00 in a research report on Monday, November 11th. Finally, Bank of America cut their price objective on shares of NOV from $22.00 to $20.00 and set a “buy” rating for the company in a report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $20.64.

NOV Price Performance

Shares of NYSE NOV opened at $14.81 on Tuesday. The stock’s 50-day simple moving average is $15.80 and its two-hundred day simple moving average is $17.07. NOV Inc. has a twelve month low of $14.77 and a twelve month high of $21.23. The firm has a market capitalization of $5.76 billion, a P/E ratio of 5.46, a P/E/G ratio of 0.89 and a beta of 1.66. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, December 6th. NOV’s dividend payout ratio (DPR) is 11.07%.

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.