Greenhaven Associates Inc. Acquires 868,359 Shares of NOV Inc. $NOV

Key Points

• Greenhaven Associates Inc. increased its holdings in NOV Inc. by 21.1% during the second quarter, now owning a total of 4,982,516 shares valued at approximately $61.9 million.
• NOV Inc. reported earnings of $0.29 EPS for the recent quarter, which was below analyst expectations, even as revenues exceeded estimates at $2.19 billion.
• The company declared a quarterly dividend of $0.075 per share, corresponding to an annual yield of 2.3%, with the payment date set for September 26th.

Greenhaven Associates Inc. boosted its holdings in shares of NOV Inc. (NYSE:NOV - Free Report) by 21.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,982,516 shares of the oil and gas exploration company's stock after acquiring an additional 868,359 shares during the quarter. NOV makes up approximately 0.9% of Greenhaven Associates Inc.'s portfolio, making the stock its 14th largest holding. Greenhaven Associates Inc. owned 1.33% of NOV worth $61,933,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Voya Investment Management LLC raised its position in NOV by 2.8% during the first quarter. Voya Investment Management LLC now owns 48,413 shares of the oil and gas exploration company's stock valued at $737,000 after acquiring an additional 1,309 shares in the last quarter. Focus Partners Wealth bought a new position in NOV during the first quarter valued at approximately $214,000. Bayforest Capital Ltd raised its position in NOV by 197.1% during the first quarter. Bayforest Capital Ltd now owns 48,041 shares of the oil and gas exploration company's stock valued at $731,000 after acquiring an additional 31,873 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in NOV by 17.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,062,292 shares of the oil and gas exploration company's stock valued at $16,168,000 after acquiring an additional 157,385 shares in the last quarter. Finally, Empowered Funds LLC raised its position in shares of NOV by 2,266.9% in the first quarter. Empowered Funds LLC now owns 509,555 shares of the oil and gas exploration company's stock valued at $7,755,000 after purchasing an additional 488,027 shares during the period. Institutional investors own 93.27% of the company's stock.

NOV Trading Down 3.2%

Shares of NOV stock opened at $12.89 on Monday. The company's fifty day simple moving average is $12.89 and its 200-day simple moving average is $13.04. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 3.69 and a beta of 1.34. 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.

NOV (NYSE:NOV - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The oil and gas exploration company reported $0.29 earnings per share (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 analyst estimates of $2.16 billion. NOV had a return on equity of 7.25% and a net margin of 5.36%.The company's revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.57 EPS. NOV has set its Q3 2025 guidance at EPS. As a group, sell-side analysts expect that NOV Inc. will post 1.4 EPS for the current 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 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 yield of 2.3%. NOV's payout ratio is currently 24.59%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NOV. Stifel Nicolaus dropped their price target on shares of NOV from $22.00 to $20.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Royal Bank Of Canada dropped their price target on shares of NOV from $19.00 to $18.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. JPMorgan Chase & Co. lowered shares of NOV from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $17.00 to $15.00 in a research report on Wednesday, July 30th. 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. Finally, Piper Sandler dropped their price target on shares of NOV from $16.00 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Seven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, NOV has a consensus rating of "Hold" and a consensus target price 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.

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