Ceredex Value Advisors LLC Grows Position in NOV Inc. $NOV

Key Points

• Ceredex Value Advisors LLC increased its position in NOV Inc. by 4.5% in the first quarter, bringing its total holdings to 696,516 shares, valued at approximately $10.6 million.
• NOV has seen varying analyst ratings, with a consensus price target of $16.56 and a current average rating of "Hold."
• The company recently declared a quarterly dividend of $0.075 per share, representing an annualized yield of 2.3%, with the payment scheduled for September 26th.

Ceredex Value Advisors LLC grew its holdings in shares of NOV Inc. (NYSE:NOV - Free Report) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 696,516 shares of the oil and gas exploration company's stock after acquiring an additional 30,100 shares during the quarter. Ceredex Value Advisors LLC owned about 0.19% of NOV worth $10,601,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Banque Cantonale Vaudoise bought a new stake in NOV during the first quarter valued at approximately $25,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of NOV in the 1st quarter worth $36,000. CX Institutional bought a new position in shares of NOV in the 1st quarter worth $42,000. UMB Bank n.a. raised its position in shares of 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 buying an additional 1,558 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of NOV by 172.9% during the 1st quarter. GAMMA Investing LLC now owns 4,320 shares of the oil and gas exploration company's stock worth $66,000 after acquiring an additional 2,737 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NOV has been the topic of a number of research analyst reports. Morgan Stanley reduced their target price on 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 objective on NOV and gave the company a "positive" rating in a research report on Wednesday, July 30th. Evercore ISI decreased their price objective on NOV from $15.00 to $14.00 and set an "in-line" rating on the stock in a report on Wednesday, July 30th. Piper Sandler cut their target price on NOV from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, August 14th. Finally, Royal Bank Of Canada reduced their price target on shares of NOV from $19.00 to $18.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $16.56.

NOV Price Performance

NOV opened at $12.87 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.58 and a quick ratio of 1.72. The stock's 50 day simple moving average is $12.89 and its 200 day simple moving average is $13.27. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 3.73 and a beta of 1.32. NOV Inc. has a 1 year low of $10.84 and a 1 year high of $18.11.

NOV (NYSE:NOV - Get Free Report) last announced 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). NOV had a net margin of 5.36% and a return on equity of 7.25%. 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 previous year, the firm posted $0.57 EPS. The business'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. As a group, analysts predict that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, September 12th. NOV's dividend payout ratio (DPR) is 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.

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