American Century Companies Inc. Increases Position in NOV Inc. $NOV

Key Points

• American Century Companies Inc. has increased its stake in NOV Inc. by 19.0%, acquiring an additional 123,066 shares, bringing its total to 771,572 shares worth $11.74 million.
• NOV reported earnings of $0.29 per share for the latest quarter, missing analysts' expectations of $0.30, with revenues of $2.19 billion.
• The company announced a quarterly dividend of $0.075 per share, translating to an annualized payment of $0.30 and a dividend yield of 2.3%.

American Century Companies Inc. raised its position in NOV Inc. (NYSE:NOV - Free Report) by 19.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 771,572 shares of the oil and gas exploration company's stock after buying an additional 123,066 shares during the quarter. American Century Companies Inc. owned about 0.21% of NOV worth $11,743,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in NOV. Pzena Investment Management LLC boosted its stake in NOV by 0.3% during the first quarter. Pzena Investment Management LLC now owns 41,564,404 shares of the oil and gas exploration company's stock valued at $632,610,000 after buying an additional 106,011 shares during the period. Vanguard Group Inc. grew its stake in shares of NOV by 1.5% during the first quarter. Vanguard Group Inc. now owns 39,463,027 shares of the oil and gas exploration company's stock valued at $600,627,000 after buying an additional 566,160 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of NOV by 7.9% during the first quarter. Dimensional Fund Advisors LP now owns 18,122,455 shares of the oil and gas exploration company's stock worth $275,818,000 after purchasing an additional 1,329,327 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of NOV by 40.7% during the fourth quarter. Ameriprise Financial Inc. now owns 5,718,408 shares of the oil and gas exploration company's stock worth $83,489,000 after purchasing an additional 1,652,917 shares during the period. Finally, Greenhaven Associates Inc. boosted its holdings in shares of NOV by 25.0% during the first quarter. Greenhaven Associates Inc. now owns 4,114,157 shares of the oil and gas exploration company's stock worth $62,617,000 after purchasing an additional 823,115 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NOV shares. Piper Sandler decreased their price target on shares of NOV from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, August 14th. Wells Fargo & Company cut their price target on shares of NOV from $11.00 to $10.00 and set an "underweight" rating on the stock in a report on Thursday, June 5th. Stifel Nicolaus decreased 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 Wednesday, July 30th. Morgan Stanley decreased their price objective on shares of NOV from $18.00 to $15.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Finally, Royal Bank Of Canada reduced their price target on shares of NOV from $19.00 to $18.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, NOV presently has an average rating of "Hold" and an average target price of $16.56.

NOV Price Performance

NOV stock traded up $0.10 during trading on Thursday, hitting $13.21. 2,617,642 shares of the company's stock traded hands, compared to its average volume of 3,324,211. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $18.11. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.72 and a current ratio of 2.58. The business has a fifty day simple moving average of $12.87 and a 200 day simple moving average of $13.25. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 10.82, a P/E/G ratio of 3.72 and a beta of 1.32.

NOV (NYSE:NOV - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The oil and gas exploration company reported $0.29 earnings per share (EPS) 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 company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the business earned $0.57 earnings per share. The firm's quarterly revenue was down 1.3% compared to the same quarter last year. NOV has set its Q3 2025 guidance at EPS. As a group, research analysts expect that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

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

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.