Ieq Capital LLC Grows Holdings in NOV Inc. $NOV

Key Points

• Ieq Capital LLC has increased its holdings in NOV Inc. by 24.2%, acquiring an additional 38,610 shares during the first quarter, bringing its total ownership to approximately 197,956 shares worth $3,013,000.
• NOV Inc. reported earnings of $0.29 per share for the last quarter, missing analysts' expectations, with revenue of $2.19 billion, slightly above the consensus estimate of $2.16 billion.
• The company also announced a quarterly dividend of $0.075 per share, with a yield of 2.3%, set to be paid on September 26th.

Ieq Capital LLC lifted its position in shares of NOV Inc. (NYSE:NOV - Free Report) by 24.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 197,956 shares of the oil and gas exploration company's stock after buying an additional 38,610 shares during the quarter. Ieq Capital LLC owned about 0.05% of NOV worth $3,013,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of NOV. Pzena Investment Management LLC grew its stake 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 purchasing an additional 106,011 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in NOV by 2.1% during the first 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 during the period. Vanguard Group Inc. grew its stake in NOV by 1.5% during the first quarter. Vanguard Group Inc. now owns 39,463,027 shares of the oil and gas exploration company's stock worth $600,627,000 after purchasing an additional 566,160 shares during the period. Dimensional Fund Advisors LP grew its stake in NOV by 7.9% during the first quarter. Dimensional Fund Advisors LP now owns 18,122,455 shares of the oil and gas exploration company's stock worth $275,818,000 after purchasing an additional 1,329,327 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in NOV by 40.7% during the fourth quarter. Ameriprise Financial Inc. now owns 5,718,408 shares of the oil and gas exploration company's stock worth $83,489,000 after purchasing an additional 1,652,917 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NOV has been the subject of a number of research reports. Morgan Stanley reduced their price target on shares of NOV from $18.00 to $15.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Stifel Nicolaus reduced their price target 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. Susquehanna set a $17.00 price target on shares of NOV and gave the stock a "positive" rating in a report on Wednesday, July 30th. Piper Sandler reduced their price target on shares of NOV from $16.00 to $14.00 and set a "neutral" rating for the company in a report on Thursday, August 14th. Finally, Evercore ISI reduced their price objective 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. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $16.56.

NOV Stock Up 2.0%

Shares of NYSE NOV traded up $0.26 during mid-day trading on Thursday, reaching $13.24. 1,415,220 shares of the company's stock traded hands, compared to its average volume of 4,225,953. The stock has a market cap of $4.92 billion, a P/E ratio of 10.86, a PEG ratio of 3.77 and a beta of 1.34. The business has a 50-day simple moving average of $12.87 and a 200 day simple moving average of $13.17. NOV Inc. has a 1-year low of $10.84 and a 1-year high of $17.12. 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 (NYSE:NOV - Get Free Report) last announced its earnings results 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 for the quarter, compared to analysts' expectations of $2.16 billion. NOV had a net margin of 5.36% and a return on equity of 7.25%. The firm's quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS. NOV has set its Q3 2025 guidance at EPS. On average, analysts expect that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.30 annualized dividend and a dividend yield of 2.3%. NOV's payout ratio is presently 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.