Texas Permanent School Fund Corp Buys 8,398 Shares of NOV Inc. (NYSE:NOV)

Texas Permanent School Fund Corp grew its stake in shares of NOV Inc. (NYSE:NOV) by 2.5% during the first quarter, HoldingsChannel reports. The firm owned 344,761 shares of the oil and gas exploration company’s stock after purchasing an additional 8,398 shares during the quarter. Texas Permanent School Fund Corp’s holdings in NOV were worth $6,730,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of NOV. Headinvest LLC bought a new stake in shares of NOV during the 3rd quarter valued at about $108,000. Teachers Retirement System of The State of Kentucky boosted its stake in NOV by 93.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 134,503 shares of the oil and gas exploration company’s stock worth $2,811,000 after acquiring an additional 65,006 shares in the last quarter. Wedmont Private Capital boosted its stake in NOV by 10.9% during the fourth quarter. Wedmont Private Capital now owns 12,349 shares of the oil and gas exploration company’s stock worth $250,000 after acquiring an additional 1,210 shares in the last quarter. Greenhaven Associates Inc. boosted its stake in NOV by 1.8% during the fourth quarter. Greenhaven Associates Inc. now owns 1,590,400 shares of the oil and gas exploration company’s stock worth $32,253,000 after acquiring an additional 28,500 shares in the last quarter. Finally, Bruce G. Allen Investments LLC bought a new stake in NOV during the fourth quarter worth about $49,000. Institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on NOV shares. TD Cowen dropped their price objective on shares of NOV from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Susquehanna restated a “positive” rating and set a $26.00 target price on shares of NOV in a research report on Monday, April 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $24.07.

NOV Stock Up 0.9 %

Shares of NOV stock traded up $0.16 during trading hours on Friday, hitting $18.52. The company had a trading volume of 165,918 shares, compared to its average volume of 3,723,309. The company’s 50-day moving average is $18.35 and its two-hundred day moving average is $18.72. NOV Inc. has a twelve month low of $16.77 and a twelve month high of $21.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.50 and a quick ratio of 1.50. The company has a market cap of $7.33 billion, a P/E ratio of 7.37, a price-to-earnings-growth ratio of 0.55 and a beta of 1.70.

NOV (NYSE:NOV) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas exploration company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. NOV had a net margin of 11.23% and a return on equity of 10.21%. NOV’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS. Analysts anticipate that NOV Inc. will post 1.56 earnings per share for the current fiscal year.

NOV Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.62%. This is a boost from NOV’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, June 14th. NOV’s dividend payout ratio is presently 12.05%.

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.