Public Employees Retirement System of Ohio Decreases Stock Holdings in NOV Inc. (NYSE:NOV)

Public Employees Retirement System of Ohio lessened its holdings in NOV Inc. (NYSE:NOV) by 4.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 143,002 shares of the oil and gas exploration company’s stock after selling 7,124 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in NOV were worth $2,284,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NOV. Rothschild Investment LLC purchased a new position in shares of NOV in the 2nd quarter valued at about $28,000. Quarry LP acquired a new position in NOV in the third quarter valued at approximately $36,000. American National Bank & Trust purchased a new position in NOV in the third quarter valued at approximately $39,000. International Assets Investment Management LLC raised its holdings in NOV by 1,590.1% during the third 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 in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of NOV during the 3rd quarter worth approximately $48,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NOV

In other news, Director David D. Harrison sold 1,784 shares of NOV stock in a transaction that occurred on Wednesday, November 20th. The shares were 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 directly owns 110,951 shares in the company, valued at approximately $1,786,311.10. This trade represents a 1.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.85% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on NOV. JPMorgan Chase & Co. cut their price target on shares of NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. BMO Capital Markets reduced their target price on NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company dropped their price target on NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Bank of America lowered their target price on shares of NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, ATB Capital reiterated a “sector perform” rating and issued a $19.00 price target on shares of NOV in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.64.

NOV Price Performance

Shares of NOV opened at $14.56 on Wednesday. The company has a current ratio of 2.57, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26. The stock’s 50 day moving average is $15.77 and its two-hundred day moving average is $17.04. NOV Inc. has a twelve month low of $14.48 and a twelve month high of $21.23. The firm has a market capitalization of $5.66 billion, a PE ratio of 5.37, a P/E/G ratio of 0.87 and a beta of 1.66.

NOV Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.06%. The ex-dividend date is Friday, December 6th. NOV’s payout ratio is 11.07%.

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.