Earnest Partners LLC Raises Stock Position in NOV Inc. $NOV

Key Points

• Earnest Partners LLC increased its stake in NOV Inc. by 5.6%, owning over 4.1 million shares valued at approximately $62.4 million after acquiring an additional 218,670 shares in Q1.
• NOV reported a quarterly EPS of $0.29, missing estimates by $0.01, with revenues of $2.19 billion slightly exceeding expectations.
• The company announced a quarterly dividend of $0.075 per share, with an ex-dividend date of September 12, reflecting a 2.3% dividend yield.

Earnest Partners LLC lifted its stake in NOV Inc. (NYSE:NOV - Free Report) by 5.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,101,685 shares of the oil and gas exploration company's stock after purchasing an additional 218,670 shares during the quarter. Earnest Partners LLC owned about 1.09% of NOV worth $62,428,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new position in NOV in the 1st quarter valued at approximately $25,000. Mirae Asset Global Investments Co. Ltd. bought a new position in NOV in the 1st quarter valued at approximately $36,000. CX Institutional bought a new position in NOV in the 1st quarter valued at approximately $42,000. UMB Bank n.a. lifted its position in NOV by 66.7% in 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 acquiring an additional 1,558 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in NOV by 172.9% in the 1st quarter. GAMMA Investing LLC now owns 4,320 shares of the oil and gas exploration company's stock valued at $66,000 after acquiring an additional 2,737 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

NOV Stock Performance

Shares of NYSE:NOV traded down $0.28 during midday trading on Tuesday, hitting $13.02. The company had a trading volume of 596,711 shares, compared to its average volume of 4,219,068. 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 company has a market cap of $4.83 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 3.77 and a beta of 1.34. NOV Inc. has a 12-month low of $10.84 and a 12-month high of $17.52. The company has a fifty day moving average of $12.87 and a two-hundred day moving average of $13.17.

NOV (NYSE:NOV - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The oil and gas exploration company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $2.19 billion during 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 company's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share. NOV has set its Q3 2025 guidance at EPS. On average, equities research analysts expect that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The firm 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 $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, September 12th. NOV's dividend payout ratio is presently 24.59%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Stifel Nicolaus lowered their price objective on NOV from $22.00 to $20.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Evercore ISI decreased their target price on shares of NOV from $15.00 to $14.00 and set an "in-line" rating for the company in a research note on Wednesday, July 30th. Wells Fargo & Company decreased their target price on shares of NOV from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Thursday, June 5th. Royal Bank Of Canada decreased their target price on shares of NOV from $19.00 to $18.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lowered shares of NOV from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $17.00 to $15.00 in a research note on Wednesday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target 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.