Amundi Sells 49,660 Shares of NOV Inc. $NOV

Key Points

• Amundi has reduced its stake in NOV Inc. by 16.0%, selling 49,660 shares and retaining a total of 261,411 shares worth approximately $3.98 million.
• NOV's stock is currently priced at $13.07, with a market capitalization of $4.85 billion, and the company has announced a quarterly dividend of $0.075 per share.
• Recent earnings showed a miss on EPS estimates, with NOV reporting $0.29 versus the expected $0.30, alongside a year-over-year revenue decline of 1.3%.

Amundi lowered its position in NOV Inc. (NYSE:NOV - Free Report) by 16.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 261,411 shares of the oil and gas exploration company's stock after selling 49,660 shares during the period. Amundi owned about 0.07% of NOV worth $3,979,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Mercer Global Advisors Inc. ADV acquired a new stake in shares of NOV during the fourth quarter worth $365,000. Captrust Financial Advisors raised its holdings in shares of NOV by 28.8% during the fourth quarter. Captrust Financial Advisors now owns 38,794 shares of the oil and gas exploration company's stock worth $566,000 after acquiring an additional 8,666 shares during the period. Deutsche Bank AG raised its holdings in shares of NOV by 25.8% during the fourth quarter. Deutsche Bank AG now owns 31,094 shares of the oil and gas exploration company's stock worth $454,000 after acquiring an additional 6,376 shares during the period. Gotham Asset Management LLC raised its holdings in shares of NOV by 502.3% during the fourth quarter. Gotham Asset Management LLC now owns 333,941 shares of the oil and gas exploration company's stock worth $4,876,000 after acquiring an additional 278,501 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of NOV during the fourth quarter worth $762,000. Institutional investors own 93.27% of the company's stock.

NOV Stock Up 0.1%

NOV stock opened at $13.07 on Thursday. The firm has a market capitalization of $4.85 billion, a PE ratio of 10.71, a P/E/G ratio of 3.73 and a beta of 1.34. The company's 50-day moving average is $12.90 and its 200-day moving average is $13.09. NOV Inc. has a fifty-two week low of $10.84 and a fifty-two week high of $17.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.58 and a quick ratio of 1.72.

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

NOV Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NOV shares. Piper Sandler dropped 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. JPMorgan Chase & Co. lowered shares of NOV from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $17.00 to $15.00 in a research note on Wednesday, July 30th. Morgan Stanley lowered their price target on shares of NOV from $18.00 to $15.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Susquehanna set a $17.00 price target on shares of NOV and gave the company a "positive" rating in a research note on Wednesday, July 30th. Finally, Royal Bank Of Canada lowered their price target on shares of NOV from $19.00 to $18.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $16.56.

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.

Want to see what other hedge funds are holding NOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NOV Inc. (NYSE:NOV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.