NOV Inc. $NOV Shares Purchased by CX Institutional

Key Points

• CX Institutional significantly increased its investment in NOV Inc. by 2,046.5%, acquiring a total of 58,556 shares valued at approximately $728,000 during the 2nd quarter.
• NOV reported a quarterly earnings per share (EPS) of $0.29, slightly below the consensus estimate of $0.30, with a revenue of $2.19 billion, surpassing expectations.
• The company announced a quarterly dividend of $0.075 per share, with a dividend yield of 2.4%, reflecting a payout ratio of 24.59%.

CX Institutional grew its position in NOV Inc. (NYSE:NOV - Free Report) by 2,046.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,556 shares of the oil and gas exploration company's stock after buying an additional 55,828 shares during the period. CX Institutional's holdings in NOV were worth $728,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NOV. Mirae Asset Global Investments Co. Ltd. acquired a new position in NOV in the first quarter valued at approximately $36,000. Exchange Traded Concepts LLC increased its position in shares of NOV by 382.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 18,201 shares of the oil and gas exploration company's stock worth $277,000 after purchasing an additional 14,432 shares during the last quarter. Canandaigua National Trust Co of Florida increased its position in shares of NOV by 114.0% during the 2nd quarter. Canandaigua National Trust Co of Florida now owns 77,394 shares of the oil and gas exploration company's stock worth $962,000 after purchasing an additional 41,235 shares during the last quarter. Empowered Funds LLC increased its position in shares of NOV by 2,266.9% during the 1st quarter. Empowered Funds LLC now owns 509,555 shares of the oil and gas exploration company's stock worth $7,755,000 after purchasing an additional 488,027 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in NOV by 172.9% during the first quarter. GAMMA Investing LLC now owns 4,320 shares of the oil and gas exploration company's stock worth $66,000 after buying an additional 2,737 shares during the period. Hedge funds and other institutional investors own 93.27% of the company's stock.

NOV Price Performance

Shares of NYSE:NOV opened at $12.61 on Monday. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 3.63 and a beta of 1.34. NOV Inc. has a one year low of $10.84 and a one year high of $17.12. The company has a 50-day simple moving average of $12.83 and a 200-day simple moving average of $12.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.72 and a current ratio of 2.58.

NOV (NYSE:NOV - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The oil and gas exploration company reported $0.29 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $2.16 billion. During the same period in the previous year, the business earned $0.57 earnings per share. The business's revenue for the quarter was down 1.3% on a year-over-year basis. NOV has set its Q3 2025 guidance at EPS. On average, analysts predict that NOV Inc. will post 1.4 EPS for the current 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 given a $0.075 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.30 annualized dividend and a dividend yield of 2.4%. NOV's payout ratio is currently 24.59%.

Analyst Ratings Changes

Several equities analysts have recently commented on NOV shares. 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. Stifel Nicolaus cut their target price on NOV from $22.00 to $20.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Piper Sandler dropped their price objective on NOV from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, August 14th. JPMorgan Chase & Co. cut NOV from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $17.00 to $15.00 in a research note on Wednesday, July 30th. Finally, Susquehanna set a $17.00 target price on NOV and gave the company a "positive" rating in a 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, NOV has a consensus rating of "Hold" and an average target price 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.

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