Bayforest Capital Ltd Has $731,000 Position in NOV Inc. $NOV

Key Points

• Bayforest Capital Ltd has significantly increased its stake in NOV Inc. by 197.1% in the first quarter, acquiring 31,873 additional shares valued at approximately $731,000.
• Several institutional investors, including UBS and Empowered Funds LLC, have also raised their holdings in NOV, with 93.27% of the stock now owned by institutional investors and hedge funds.
• NOV reported $0.29 earnings per share for the quarter, missing estimates, and recently announced a quarterly dividend of $0.075 per share, reflecting a yield of 2.3%.

Bayforest Capital Ltd increased its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 197.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,041 shares of the oil and gas exploration company's stock after buying an additional 31,873 shares during the quarter. Bayforest Capital Ltd's holdings in NOV were worth $731,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in NOV. Mercer Global Advisors Inc. ADV bought a new position in shares of NOV during the fourth quarter worth about $365,000. Captrust Financial Advisors grew its position in shares of NOV by 28.8% during the fourth quarter. Captrust Financial Advisors now owns 38,794 shares of the oil and gas exploration company's stock worth $566,000 after acquiring an additional 8,666 shares during the last quarter. Deutsche Bank AG grew its position in shares of NOV by 25.8% during the fourth quarter. Deutsche Bank AG now owns 31,094 shares of the oil and gas exploration company's stock worth $454,000 after acquiring an additional 6,376 shares during the last quarter. Gotham Asset Management LLC grew its position in shares of NOV by 502.3% during the fourth quarter. Gotham Asset Management LLC now owns 333,941 shares of the oil and gas exploration company's stock worth $4,876,000 after acquiring an additional 278,501 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in shares of NOV during the fourth quarter worth about $762,000. 93.27% of the stock is currently owned by institutional investors.

NOV Trading Up 1.8%

NOV stock traded up $0.23 during mid-day trading on Thursday, reaching $13.30. 2,611,879 shares of the stock traded hands, compared to its average volume of 3,041,896. 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 52-week low of $10.84 and a 52-week high of $17.12. The company has a market cap of $4.94 billion, a P/E ratio of 10.90, a P/E/G ratio of 3.74 and a beta of 1.34. The stock's fifty day moving average is $12.90 and its 200-day moving average is $13.08.

NOV (NYSE:NOV - Get Free Report) last posted 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). NOV had a net margin of 5.36% and a return on equity of 7.25%. The firm had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.16 billion. During the same period in the prior year, the company posted $0.57 earnings per share. NOV's quarterly revenue was down 1.3% compared to the same quarter last year. NOV has set its Q3 2025 guidance at EPS. As a group, sell-side analysts expect that NOV Inc. will post 1.4 earnings per share for the current 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 issued 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 dividend yield of 2.3%. NOV's payout ratio is currently 24.59%.

Wall Street Analyst Weigh In

NOV has been the topic of several research analyst reports. JPMorgan Chase & Co. cut shares of NOV from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $17.00 to $15.00 in a research note on Wednesday, July 30th. Evercore ISI dropped their price target on shares of NOV from $15.00 to $14.00 and set an "in-line" rating on the stock in a research report on Wednesday, July 30th. 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. Morgan Stanley dropped their price target on shares of NOV from $18.00 to $15.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Finally, Susquehanna set a $17.00 price objective on NOV and gave the company a "positive" rating in a research report on Wednesday, July 30th. Seven research 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's stock. According to data from MarketBeat.com, the company currently 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.