Algert Global LLC Sells 263,340 Shares of NOV Inc. $NOV

Key Points

• Algert Global LLC significantly reduced its stake in NOV Inc. by 81.8% in the first quarter, selling 263,340 shares and holding 58,470 shares worth approximately $890,000 afterward.
• NOV recently reported earnings per share of $0.29 for the quarter, which was below analyst estimates of $0.30, while its revenue fell by 1.3% year-over-year.
• The company announced a quarterly dividend of $0.075 per share, with a dividend yield of 2.3%, scheduled for payment on September 26th.

Algert Global LLC reduced its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 81.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 58,470 shares of the oil and gas exploration company's stock after selling 263,340 shares during the period. Algert Global LLC's holdings in NOV were worth $890,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mariner LLC increased its position in NOV by 2.9% during the 4th quarter. Mariner LLC now owns 24,201 shares of the oil and gas exploration company's stock valued at $353,000 after purchasing an additional 672 shares during the period. ProShare Advisors LLC increased its position in NOV by 6.1% during the 4th quarter. ProShare Advisors LLC now owns 18,204 shares of the oil and gas exploration company's stock valued at $266,000 after purchasing an additional 1,042 shares during the period. Coppell Advisory Solutions LLC increased its position in NOV by 20.1% during the 4th quarter. Coppell Advisory Solutions LLC now owns 7,317 shares of the oil and gas exploration company's stock valued at $106,000 after purchasing an additional 1,225 shares during the period. Canandaigua National Bank & Trust Co. increased its position in NOV by 2.5% during the 1st quarter. Canandaigua National Bank & Trust Co. now owns 61,363 shares of the oil and gas exploration company's stock valued at $934,000 after purchasing an additional 1,468 shares during the period. Finally, UMB Bank n.a. increased its position in NOV by 66.7% during 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 purchasing an additional 1,558 shares during the period. Institutional investors and hedge funds own 93.27% of the company's stock.

NOV Price Performance

Shares of NYSE:NOV opened at $13.1050 on Friday. The company has a quick ratio of 1.72, a current ratio of 2.58 and a debt-to-equity ratio of 0.26. NOV Inc. has a twelve month low of $10.84 and a twelve month high of $18.40. The stock's 50 day moving average is $12.92 and its 200-day moving average is $13.30. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 3.72 and a beta of 1.32.

NOV (NYSE:NOV - Get Free Report) last issued its earnings results on Monday, July 28th. The oil and gas exploration company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). NOV had a return on equity of 7.25% and a net margin of 5.36%.The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the company earned $0.57 earnings per share. NOV's revenue for the quarter was down 1.3% compared to the same quarter last year. NOV has set its Q3 2025 guidance at EPS. Sell-side analysts forecast that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NOV. Wells Fargo & Company decreased their target price on shares of NOV from $11.00 to $10.00 and set an "underweight" rating for the company in a research report on Thursday, June 5th. Stifel Nicolaus decreased their target price on shares of NOV from $22.00 to $20.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. Evercore ISI cut their price target on NOV from $15.00 to $14.00 and set an "in-line" rating on the stock in a report on Wednesday, July 30th. JPMorgan Chase & Co. cut NOV from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $17.00 to $15.00 in a report on Wednesday, July 30th. Finally, Barclays cut their price target on NOV from $13.00 to $11.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $16.56.

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.

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