Caisse DE Depot ET Placement DU Quebec Takes Position in NOV Inc. $NOV

Key Points

• Caisse DE Depot ET Placement DU Quebec acquired 1,549,896 shares of NOV Inc. valued at approximately $23.6 million, representing about 0.41% of the company's total shares.
• Several analysts have recently lowered their price targets for NOV, with Barclays setting a target of $11.00 and Wells Fargo reducing theirs to $10.00, indicating a generally negative outlook.
• NOV announced a quarterly dividend of $0.075 per share, resulting in an annual yield of 2.3%, with the ex-dividend date set for September 12th.

Caisse DE Depot ET Placement DU Quebec purchased a new stake in NOV Inc. (NYSE:NOV - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,549,896 shares of the oil and gas exploration company's stock, valued at approximately $23,589,000. Caisse DE Depot ET Placement DU Quebec owned about 0.41% of NOV at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new stake in NOV in the first quarter valued at $25,000. Mirae Asset Global Investments Co. Ltd. bought a new position in NOV during the first quarter worth about $36,000. CX Institutional bought a new position in NOV in the 1st quarter valued at about $42,000. UMB Bank n.a. increased its holdings in NOV by 66.7% in the 1st quarter. UMB Bank n.a. now owns 3,895 shares of the oil and gas exploration company's stock valued at $59,000 after buying an additional 1,558 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of NOV by 172.9% in the 1st quarter. GAMMA Investing LLC now owns 4,320 shares of the oil and gas exploration company's stock valued at $66,000 after purchasing an additional 2,737 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NOV shares. Stifel Nicolaus reduced their price target on shares of NOV from $22.00 to $20.00 and set a "buy" rating on the stock in a research note on Wednesday, July 30th. Susquehanna set a $17.00 target price on shares of NOV and gave the company a "positive" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. downgraded shares of NOV from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $17.00 to $15.00 in a report on Wednesday, July 30th. Piper Sandler lowered their price objective on shares of NOV from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, August 14th. Finally, Royal Bank Of Canada lowered their target price on shares of NOV from $19.00 to $18.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $16.56.

NOV Price Performance

Shares of NOV stock traded up $0.09 during trading hours on Friday, hitting $13.29. 2,821,533 shares of the company's stock were exchanged, compared to its average volume of 3,229,598. The company has a market capitalization of $4.94 billion, a PE ratio of 10.89, a PEG ratio of 3.77 and a beta of 1.32. NOV Inc. has a 12-month low of $10.84 and a 12-month high of $18.11. The business's 50 day simple moving average is $12.87 and its 200-day simple moving average is $13.21. The company has a current ratio of 2.58, a quick ratio of 1.72 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The oil and gas exploration company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). NOV had a return on equity of 7.25% and a net margin of 5.36%.The business had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.16 billion. During the same period last year, the business posted $0.57 earnings per share. The company's revenue was down 1.3% compared to the same quarter last year. NOV has set its Q3 2025 guidance at EPS. On average, equities research analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, September 12th. NOV's payout ratio is presently 24.59%.

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.