Evergreen Capital Management LLC Takes $795,000 Position in NOV Inc. $NOV

Key Points

• Evergreen Capital Management LLC acquired 52,220 shares of NOV Inc. valued at approximately $795,000 during the first quarter.
• Institutional investors own 93.27% of NOV's stock, with significant recent purchases from firms like Nuveen LLC and Ameriprise Financial Inc.
• NOV's Q2 earnings fell short of expectations, reporting $0.29 EPS compared to the $0.30 consensus estimate, while revenue slightly increased to $2.19 billion.

Evergreen Capital Management LLC acquired a new stake in NOV Inc. (NYSE:NOV - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 52,220 shares of the oil and gas exploration company's stock, valued at approximately $795,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Mariner LLC grew its holdings in shares of NOV by 2.9% in the 4th quarter. Mariner LLC now owns 24,201 shares of the oil and gas exploration company's stock worth $353,000 after acquiring an additional 672 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of 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 during the last quarter. Keeley Teton Advisors LLC grew its holdings in shares of 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 during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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 during the last quarter. Finally, Canandaigua National Bank & Trust Co. grew its holdings in shares of 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 during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NOV has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price objective on shares of NOV from $18.00 to $15.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Evercore ISI decreased their price objective 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. JPMorgan Chase & Co. lowered shares of NOV from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $17.00 to $15.00 in a research note on Wednesday, July 30th. Piper Sandler decreased their price objective on shares of NOV from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, August 14th. Finally, Stifel Nicolaus decreased their price objective on shares of NOV from $22.00 to $20.00 and set a "buy" rating for the company 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 data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $16.56.

NOV Stock Down 0.5%

NYSE NOV traded down $0.07 on Friday, reaching $13.30. The stock had a trading volume of 3,113,560 shares, compared to its average volume of 4,223,851. The business has a 50 day moving average price of $12.88 and a 200 day moving average price of $13.15. The company has a current ratio of 2.58, a quick ratio of 1.72 and a debt-to-equity ratio of 0.26. NOV Inc. has a 1 year low of $10.84 and a 1 year high of $17.12. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 3.70 and a beta of 1.34.

NOV (NYSE:NOV - Get Free Report) last released 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 business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. NOV had a net margin of 5.36% and a return on equity of 7.25%. The firm's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 EPS. NOV has set its Q3 2025 guidance at EPS. On average, analysts forecast that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

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 issued a dividend of $0.075 per share. The ex-dividend date is Friday, September 12th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.3%. 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.