Empowered Funds LLC Has $7.76 Million Stock Position in NOV Inc. $NOV

Key Points

• Empowered Funds LLC significantly increased its holdings in NOV Inc., acquiring 488,027 shares and raising its stake by 2,266.9% to hold 509,555 shares valued at approximately $7.76 million.
• NOV recently reported a Q2 EPS of $0.29, missing analyst estimates of $0.30, with revenues of $2.19 billion, a slight decrease of 1.3% year-over-year.
• The company announced a quarterly dividend of $0.075 per share, with a dividend yield of 2.3%, to be paid on September 26th.

Empowered Funds LLC lifted its position in shares of NOV Inc. (NYSE:NOV - Free Report) by 2,266.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 509,555 shares of the oil and gas exploration company's stock after buying an additional 488,027 shares during the period. Empowered Funds LLC owned about 0.14% of NOV worth $7,755,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Banque Cantonale Vaudoise bought a new stake in NOV in the 1st quarter valued at approximately $25,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of NOV in the first quarter worth $36,000. CX Institutional bought a new position in NOV in the first quarter valued at $42,000. Quarry LP increased its stake in NOV by 119.7% in the 1st quarter. Quarry LP now owns 3,407 shares of the oil and gas exploration company's stock valued at $52,000 after buying an additional 1,856 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in 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 worth $59,000 after buying an additional 1,558 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

NOV Stock Performance

Shares of NYSE NOV traded down $0.42 during trading hours on Friday, reaching $12.89. 2,937,914 shares of the stock were exchanged, compared to its average volume of 3,036,149. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of 10.57, a P/E/G ratio of 3.81 and a beta of 1.34. The stock's fifty day simple moving average is $12.89 and its 200 day simple moving average is $13.05. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.72 and a current ratio of 2.58. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $17.12.

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 EPS 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 firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the company earned $0.57 earnings per share. The business's quarterly revenue was down 1.3% compared to the same quarter last year. NOV has set its Q3 2025 guidance at EPS. Sell-side analysts predict that NOV Inc. will post 1.4 EPS for the current year.

NOV Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, September 12th. This represents a $0.30 annualized dividend and a yield of 2.3%. NOV's payout ratio is 24.59%.

Analyst Ratings Changes

NOV has been the topic of several analyst reports. Piper Sandler dropped their target price on NOV from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, August 14th. Evercore ISI cut their price target 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. Stifel Nicolaus lowered their price objective on shares of NOV from $22.00 to $20.00 and set a "buy" rating on the stock in a research note on Wednesday, July 30th. JPMorgan Chase & Co. cut NOV from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $17.00 to $15.00 in a report on Wednesday, July 30th. Finally, Susquehanna set a $17.00 price objective on NOV and gave the company a "positive" rating in a research report on Wednesday, July 30th. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $16.56.

NOV 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.