Ninety One UK Ltd Grows Position in NOV Inc. $NOV

Key Points

• Ninety One UK Ltd increased its stake in NOV Inc. by 51.2%, owning approximately 0.37% of the company with a value of $17.46 million following the purchase of additional shares.
• NOV reported earnings of $0.29 per share for the last quarter, slightly falling short of analysts' expectations and showing a 1.3% decline in revenue compared to the same quarter last year.
• The firm announced a quarterly dividend of $0.075, translating to an annualized dividend yield of 2.2% and a payout ratio of 24.59%.

Ninety One UK Ltd grew its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 51.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,404,570 shares of the oil and gas exploration company's stock after purchasing an additional 475,461 shares during the period. Ninety One UK Ltd owned approximately 0.37% of NOV worth $17,459,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Mackenzie Financial Corp acquired a new position in NOV during the fourth quarter worth about $162,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of NOV by 126.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 34,726 shares of the oil and gas exploration company's stock worth $507,000 after acquiring an additional 19,399 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of NOV by 4,053.5% in the 1st quarter. GAMMA Investing LLC now owns 65,750 shares of the oil and gas exploration company's stock worth $1,001,000 after acquiring an additional 64,167 shares during the period. Rhumbline Advisers increased its stake in NOV by 8.3% in the 1st quarter. Rhumbline Advisers now owns 1,187,218 shares of the oil and gas exploration company's stock valued at $18,069,000 after purchasing an additional 91,080 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new position in NOV during the first quarter worth $159,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

NOV Stock Performance

Shares of NYSE NOV opened at $13.56 on Thursday. The company has a 50-day simple moving average of $12.87 and a 200-day simple moving average of $12.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.58 and a quick ratio of 1.72. The company has a market cap of $5.03 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 3.81 and a beta of 1.26. NOV Inc. has a 12 month low of $10.84 and a 12 month high of $16.86.

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 analysts' consensus estimates of $0.30 by ($0.01). The firm had revenue of $2.19 billion for 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 firm's revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 EPS. NOV has set its Q3 2025 guidance at EPS. On average, equities analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were given a $0.075 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.2%. NOV's payout ratio is currently 24.59%.

Analysts Set New Price Targets

NOV has been the subject of a number of research analyst reports. Stifel Nicolaus dropped their price target on NOV from $22.00 to $20.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. Evercore ISI lowered their price objective on shares of NOV from $15.00 to $14.00 and set an "in-line" rating on the stock in a research note on Wednesday, July 30th. Susquehanna set a $17.00 target price on shares of NOV and gave the stock a "positive" rating in a research report on Wednesday, July 30th. Royal Bank Of Canada lowered 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. Finally, Piper Sandler dropped 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. Seven equities research 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $16.56.

About NOV

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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