LPL Financial LLC Grows Stock Position in NOV Inc. $NOV

Key Points

• LPL Financial LLC has increased its stake in NOV Inc. by 41.6% during the first quarter, acquiring an additional 24,695 shares, bringing its total holdings to 84,035 shares valued at approximately $1.28 million.
• NOV Inc. reported an EPS of $0.29 for the most recent quarter, falling short of the consensus estimate of $0.30, while revenue was $2.19 billion, exceeding expectations.
• The company declared a quarterly dividend of $0.075 per share, scheduled to be paid on September 26, which translates to an annualized yield of 2.3%.

LPL Financial LLC boosted its position in NOV Inc. (NYSE:NOV - Free Report) by 41.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 84,035 shares of the oil and gas exploration company's stock after acquiring an additional 24,695 shares during the period. LPL Financial LLC's holdings in NOV were worth $1,279,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of NOV in the first quarter worth approximately $36,000. CX Institutional purchased a new stake in shares of NOV in the first quarter worth approximately $42,000. UMB Bank n.a. raised its stake in shares of NOV by 66.7% in the first quarter. UMB Bank n.a. now owns 3,895 shares of the oil and gas exploration company's stock worth $59,000 after purchasing an additional 1,558 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of NOV by 172.9% in the first quarter. GAMMA Investing LLC now owns 4,320 shares of the oil and gas exploration company's stock worth $66,000 after purchasing an additional 2,737 shares during the last quarter. Finally, Coppell Advisory Solutions LLC raised its stake 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 purchasing an additional 1,225 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

NOV Stock Performance

NYSE NOV traded up $0.09 on Friday, hitting $13.29. 2,821,533 shares of the stock traded hands, compared to its average volume of 3,229,598. NOV Inc. has a 12 month low of $10.84 and a 12 month high of $18.11. The business's fifty day moving average is $12.87 and its two-hundred day moving average is $13.23. 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 $4.94 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 3.74 and a beta of 1.32.

NOV (NYSE:NOV - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. NOV had a return on equity of 7.25% and a net margin of 5.36%.NOV's revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 earnings per share. NOV has set its Q3 2025 guidance at EPS. As a group, equities analysts anticipate that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid 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 yield of 2.3%. NOV's dividend payout ratio (DPR) is currently 24.59%.

Analyst Ratings Changes

A number of analysts recently commented on NOV shares. Piper Sandler decreased their price target on NOV from $16.00 to $14.00 and set a "neutral" rating for the company in a research report on Thursday, August 14th. Royal Bank Of Canada decreased their price target on NOV from $19.00 to $18.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Evercore ISI decreased their price target on NOV from $15.00 to $14.00 and set an "in-line" rating for the company in a research report on Wednesday, July 30th. JPMorgan Chase & Co. downgraded NOV from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $17.00 to $15.00 in a research report on Wednesday, July 30th. Finally, Morgan Stanley decreased their price target on NOV from $18.00 to $15.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target 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.