NOV Inc. $NOV Shares Acquired by Harbor Capital Advisors Inc.

Key Points

• Harbor Capital Advisors Inc. increased its holdings in NOV Inc. by 18.8%, owning 804,961 shares valued at approximately $10.01 million.
• NOV reported quarterly earnings of $0.29 per share, falling short of the consensus estimate of $0.30, with a net revenue of $2.19 billion, slightly above expectations.
• The company will pay a quarterly dividend of $0.075 per share on September 26th, which corresponds to an annualized dividend yield of 2.4%.

Harbor Capital Advisors Inc. grew its stake in NOV Inc. (NYSE:NOV - Free Report) by 18.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 804,961 shares of the oil and gas exploration company's stock after buying an additional 127,433 shares during the quarter. Harbor Capital Advisors Inc. owned 0.21% of NOV worth $10,006,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NOV. Pzena Investment Management LLC raised its holdings in NOV by 0.3% during the first quarter. Pzena Investment Management LLC now owns 41,564,404 shares of the oil and gas exploration company's stock worth $632,610,000 after acquiring an additional 106,011 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of NOV by 2.1% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 40,487,598 shares of the oil and gas exploration company's stock worth $616,221,000 after purchasing an additional 833,158 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of NOV by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 39,463,027 shares of the oil and gas exploration company's stock valued at $600,627,000 after buying an additional 566,160 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of NOV by 7.9% in the first quarter. Dimensional Fund Advisors LP now owns 18,122,455 shares of the oil and gas exploration company's stock valued at $275,818,000 after buying an additional 1,329,327 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in NOV by 88.9% during the first quarter. AQR Capital Management LLC now owns 7,146,949 shares of the oil and gas exploration company's stock worth $107,276,000 after buying an additional 3,362,853 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Wall Street Analyst Weigh In

NOV has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price target on NOV from $11.00 to $10.00 and set an "underweight" rating for the company in a report on Thursday, June 5th. Evercore ISI reduced their target price on NOV from $15.00 to $14.00 and set an "in-line" rating for the company in a research note on Wednesday, July 30th. Piper Sandler dropped their price target on NOV from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Royal Bank Of Canada decreased their price objective on shares of NOV from $19.00 to $18.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. Finally, Stifel Nicolaus reduced their target price on shares of NOV from $22.00 to $20.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $16.56.

NOV Trading Down 2.8%

Shares of NYSE:NOV traded down $0.36 during mid-day trading on Friday, reaching $12.61. 7,565,051 shares of the company's stock were exchanged, compared to its average volume of 3,127,115. NOV Inc. has a twelve month low of $10.84 and a twelve month high of $17.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.72 and a current ratio of 2.58. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 3.73 and a beta of 1.34. The business's fifty day moving average price is $12.83 and its 200-day moving average price is $13.01.

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 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. NOV had a net margin of 5.36% and a return on equity of 7.25%. The company's revenue was down 1.3% on a year-over-year basis. During the same period last year, the business posted $0.57 EPS. NOV has set its Q3 2025 guidance at EPS. On average, research analysts predict 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. Stockholders of record on Friday, September 12th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, September 12th. NOV's dividend payout ratio (DPR) is 24.59%.

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.