Corigliano Investment Advisers LLC Has $5.33 Million Stock Position in NOV Inc. $NOV

Key Points

• Corigliano Investment Advisers LLC reduced its stake in NOV Inc. by 24.7%, now holding 350,300 shares valued at approximately $5.3 million.
• NOV's latest earnings report showed a miss in EPS expectations, reporting $0.29 versus the consensus estimate of $0.30, along with a revenue of $2.19 billion.
• The company declared a quarterly dividend of $0.075 per share, representing a 2.3% yield and a payout ratio of 24.59%.

Corigliano Investment Advisers LLC lowered its position in shares of NOV Inc. (NYSE:NOV - Free Report) by 24.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 350,300 shares of the oil and gas exploration company's stock after selling 114,712 shares during the quarter. NOV accounts for approximately 2.4% of Corigliano Investment Advisers LLC's investment portfolio, making the stock its 19th largest position. Corigliano Investment Advisers LLC owned approximately 0.09% of NOV worth $5,332,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. ProShare Advisors LLC lifted its stake in NOV by 6.1% in the 4th quarter. ProShare Advisors LLC now owns 18,204 shares of the oil and gas exploration company's stock worth $266,000 after acquiring an additional 1,042 shares in the last quarter. Vident Advisory LLC lifted its stake in NOV by 9.6% in the 1st quarter. Vident Advisory LLC now owns 12,860 shares of the oil and gas exploration company's stock worth $196,000 after acquiring an additional 1,126 shares in the last quarter. Keeley Teton Advisors LLC lifted its stake in NOV by 1.1% in the 1st quarter. Keeley Teton Advisors LLC now owns 107,317 shares of the oil and gas exploration company's stock worth $1,633,000 after acquiring an additional 1,128 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in NOV by 30.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,937 shares of the oil and gas exploration company's stock worth $75,000 after acquiring an additional 1,155 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. lifted its stake in NOV by 2.5% in the 1st quarter. Canandaigua National Bank & Trust Co. now owns 61,363 shares of the oil and gas exploration company's stock worth $934,000 after acquiring an additional 1,468 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Analyst Upgrades and Downgrades

NOV has been the subject of several research analyst reports. Wells Fargo & Company reduced their price objective on NOV from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Thursday, June 5th. Morgan Stanley reduced their price objective on NOV from $18.00 to $15.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Royal Bank Of Canada reduced their price objective on NOV from $19.00 to $18.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Susquehanna set a $17.00 price target on NOV and gave the stock a "positive" rating in a research note on Wednesday, July 30th. Finally, Evercore ISI cut their price target on NOV from $15.00 to $14.00 and set an "in-line" rating for the company in a research note on Wednesday, July 30th. Seven 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 MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $16.56.

NOV Stock Performance

Shares of NOV stock traded down $0.05 during trading on Tuesday, reaching $13.20. The company had a trading volume of 895,016 shares, compared to its average volume of 4,201,894. The firm's 50 day simple moving average is $12.90 and its two-hundred day simple moving average is $13.09. 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 Inc. has a one year low of $10.84 and a one year high of $17.12. The company has a market capitalization of $4.90 billion, a PE ratio of 10.82, a PEG ratio of 3.80 and a beta of 1.34.

NOV (NYSE:NOV - Get Free Report) last issued its quarterly earnings data 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 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 period in the previous year, the business posted $0.57 earnings per share. The firm's revenue was down 1.3% on a year-over-year basis. NOV has set its Q3 2025 guidance at EPS. Sell-side analysts forecast that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The business also recently disclosed 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 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 (DPR) is presently 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.