Dimensional Fund Advisors LP Raises Stock Position in NOV Inc. $NOV

Key Points

• Dimensional Fund Advisors LP increased its stake in NOV Inc. by 7.9% to own approximately 4.82% of the company, totaling 18,122,455 shares valued at $275.8 million.
• NOV reported earnings of $0.29 per share for the last quarter, falling short of analysts' estimates, with a revenue of $2.19 billion.
• The company announced a quarterly dividend of $0.075 per share, which corresponds to an annual yield of 2.5%.

Dimensional Fund Advisors LP boosted its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 7.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,122,455 shares of the oil and gas exploration company's stock after buying an additional 1,329,327 shares during the quarter. Dimensional Fund Advisors LP owned 4.82% of NOV worth $275,818,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC grew its position in NOV by 83.3% during the first quarter. Neuberger Berman Group LLC now owns 41,809 shares of the oil and gas exploration company's stock worth $636,000 after buying an additional 19,004 shares during the period. HighTower Advisors LLC grew its position in shares of NOV by 10.6% in the first quarter. HighTower Advisors LLC now owns 62,211 shares of the oil and gas exploration company's stock valued at $947,000 after purchasing an additional 5,974 shares during the last quarter. Nuveen LLC acquired a new stake in shares of NOV in the first quarter valued at approximately $33,742,000. Covestor Ltd grew its position in shares of NOV by 125.9% in the first quarter. Covestor Ltd now owns 5,061 shares of the oil and gas exploration company's stock valued at $77,000 after purchasing an additional 2,821 shares during the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of NOV in the first quarter valued at approximately $171,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Trading Down 1.6%

NYSE:NOV traded down $0.1950 during trading hours on Wednesday, reaching $12.1950. 2,776,539 shares of the company were exchanged, compared to its average volume of 4,292,748. 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 firm has a market cap of $4.53 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 3.48 and a beta of 1.32. NOV Inc. has a 52-week low of $10.84 and a 52-week high of $18.40. The stock has a 50 day simple moving average of $12.98 and a 200 day simple moving average of $13.35.

NOV (NYSE:NOV - Get Free Report) last posted its quarterly 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). The company had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.16 billion. NOV had a return on equity of 7.25% and a net margin of 5.36%.The business's revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.57 EPS. NOV has set its Q3 2025 guidance at EPS. As a group, analysts predict that NOV Inc. will post 1.4 EPS for the current year.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.30 dividend on an annualized basis and a yield of 2.5%. NOV's dividend payout ratio (DPR) is currently 24.59%.

Wall Street Analyst Weigh In

NOV has been the topic of several research reports. Susquehanna set a $17.00 price target on shares of NOV and gave the company a "positive" rating in a research report on Wednesday, July 30th. 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 report on Wednesday, July 30th. Wells Fargo & Company lowered their price target on shares of NOV from $11.00 to $10.00 and set an "underweight" rating on the stock in a research report on Thursday, June 5th. Evercore ISI lowered their price target on shares of NOV from $15.00 to $14.00 and set an "in-line" rating on the stock in a research report on Wednesday, July 30th. Finally, Morgan Stanley decreased their target price on shares of NOV from $18.00 to $15.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Seven 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $16.56.

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.