CX Institutional Acquires 55,828 Shares of NOV Inc. $NOV

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

Other large investors also recently added to or reduced their stakes in the company. Pzena Investment Management LLC increased its position in shares of NOV by 0.3% in the 1st quarter. Pzena Investment Management LLC now owns 41,564,404 shares of the oil and gas exploration company's stock valued at $632,610,000 after buying an additional 106,011 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings 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 buying an additional 833,158 shares during the last quarter. Vanguard Group Inc. lifted its stake in NOV by 1.5% in the first quarter. Vanguard Group Inc. now owns 39,463,027 shares of the oil and gas exploration company's stock valued at $600,627,000 after acquiring an additional 566,160 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of NOV by 7.9% during the 1st 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 last quarter. Finally, AQR Capital Management LLC grew its holdings in NOV by 88.9% during the first quarter. AQR Capital Management LLC now owns 7,146,949 shares of the oil and gas exploration company's stock worth $107,276,000 after purchasing an additional 3,362,853 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on NOV shares. JPMorgan Chase & Co. downgraded shares of NOV from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $17.00 to $15.00 in a report on Wednesday, July 30th. Stifel Nicolaus reduced their price target on NOV from $22.00 to $20.00 and set a "buy" rating for the company in a research note on Wednesday, July 30th. Piper Sandler lowered their price objective on NOV from $16.00 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Susquehanna set a $17.00 target price on shares of NOV and gave the company a "positive" rating in a research report on Wednesday, July 30th. Finally, Evercore ISI dropped their price objective on shares of 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 given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, NOV currently has an average rating of "Hold" and a consensus price target of $16.56.

NOV Trading Down 0.1%

NYSE NOV traded down $0.02 during trading hours on Monday, hitting $12.61. 3,949,169 shares of the company's stock were exchanged, compared to its average volume of 3,303,936. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 3.63 and a beta of 1.34. NOV Inc. has a 1-year low of $10.84 and a 1-year high of $17.12. The stock has a 50-day simple moving average of $12.82 and a 200 day simple moving average of $12.97. 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 (NYSE:NOV - Get Free Report) last posted its quarterly 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). NOV had a net margin of 5.36% and a return on equity of 7.25%. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the business posted $0.57 EPS. The business's revenue for the quarter was down 1.3% compared to the same quarter last year. NOV has set its Q3 2025 guidance at EPS. On average, equities analysts forecast that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The company 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 $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, September 12th. NOV's dividend payout ratio is presently 24.59%.

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.