Ethic Inc. Raises Stake in NOV Inc. $NOV

Key Points

• Ethic Inc. has increased its stake in NOV Inc. by 58.9%, acquiring an additional 45,825 shares during the first quarter, bringing its total holdings to 123,687 shares valued at approximately $1.9 million.
• Significant changes have been made by multiple institutional investors in NOV, with 93.27% of the stock currently owned by hedge funds and institutional investors.
• Research analysts have cut price targets for NOV, with Barclays setting an "underweight" rating and lowering their target from $13.00 to $11.00, reflecting a cautious outlook on the company's stock performance.

Ethic Inc. raised its holdings in shares of NOV Inc. (NYSE:NOV - Free Report) by 58.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 123,687 shares of the oil and gas exploration company's stock after purchasing an additional 45,825 shares during the period. Ethic Inc.'s holdings in NOV were worth $1,906,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NOV. Mariner LLC grew its position in shares of NOV by 2.9% during the 4th quarter. Mariner LLC now owns 24,201 shares of the oil and gas exploration company's stock valued at $353,000 after acquiring an additional 672 shares during the period. ProShare Advisors LLC raised its stake in NOV by 6.1% during the 4th quarter. ProShare Advisors LLC now owns 18,204 shares of the oil and gas exploration company's stock valued at $266,000 after purchasing an additional 1,042 shares during the period. Coppell Advisory Solutions LLC lifted its holdings in shares of NOV by 20.1% in the fourth quarter. Coppell Advisory Solutions LLC now owns 7,317 shares of the oil and gas exploration company's stock worth $106,000 after buying an additional 1,225 shares in the last quarter. Canandaigua National Bank & Trust Co. boosted its holdings in shares of NOV by 2.5% during the 1st quarter. Canandaigua National Bank & Trust Co. now owns 61,363 shares of the oil and gas exploration company's stock valued at $934,000 after purchasing an additional 1,468 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in NOV by 66.7% during the first 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 during the last quarter. Institutional investors own 93.27% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Barclays decreased their target price on shares of NOV from $13.00 to $11.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Susquehanna set a $17.00 price objective on NOV and gave the company a "positive" rating in a research report on Wednesday, July 30th. Wells Fargo & Company lowered 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. JPMorgan Chase & Co. cut shares of NOV from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $17.00 to $15.00 in a research note on Wednesday, July 30th. Finally, Morgan Stanley cut their price objective on NOV from $18.00 to $15.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, NOV currently has a consensus rating of "Hold" and a consensus target price of $16.56.

NOV Stock Performance

NOV stock traded up $0.6950 during midday trading on Friday, hitting $13.1050. 4,029,077 shares of the stock traded hands, compared to its average volume of 4,286,792. 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 1-year low of $10.84 and a 1-year high of $18.40. The stock's fifty day simple moving average is $12.94 and its 200-day simple moving average is $13.33. The firm has a market cap of $4.87 billion, a P/E ratio of 10.74, a PEG ratio of 3.46 and a beta of 1.32.

NOV (NYSE:NOV - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The oil and gas exploration company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). NOV had a return on equity of 7.25% and a net margin of 5.36%.The business had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.16 billion. During the same quarter in the prior year, the company 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. On average, analysts expect that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend 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 currently 24.59%.

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.