Hsbc Holdings PLC Sells 262,960 Shares of NOV Inc. $NOV

Key Points

• Hsbc Holdings PLC reduced its stake in NOV Inc. by 53.9% during the first quarter, holding approximately $3.43 million worth of shares after selling a significant number.
• Various analysts have issued new price targets, with Wells Fargo reducing its target from $11.00 to $10.00 while Morgan Stanley lowered theirs from $18.00 to $15.00.
• NOV Inc. announced a quarterly dividend of $0.075 per share, with a dividend yield of 2.3%, scheduled for payment on September 26th.

Hsbc Holdings PLC cut its position in NOV Inc. (NYSE:NOV - Free Report) by 53.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 225,339 shares of the oil and gas exploration company's stock after selling 262,960 shares during the quarter. Hsbc Holdings PLC owned approximately 0.06% of NOV worth $3,432,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Pzena Investment Management LLC grew its stake in 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 during the last quarter. Vanguard Group Inc. grew its stake in NOV by 1.5% in the 1st 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 buying an additional 566,160 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in NOV by 7.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 18,122,455 shares of the oil and gas exploration company's stock valued at $275,818,000 after buying an additional 1,329,327 shares during the last quarter. Ameriprise Financial Inc. grew its stake in NOV by 40.7% in the 4th quarter. Ameriprise Financial Inc. now owns 5,718,408 shares of the oil and gas exploration company's stock valued at $83,489,000 after buying an additional 1,652,917 shares during the last quarter. Finally, Northern Trust Corp grew its stake in NOV by 12.6% in the 1st quarter. Northern Trust Corp now owns 4,150,911 shares of the oil and gas exploration company's stock valued at $63,177,000 after buying an additional 465,364 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Price Performance

NOV traded up $0.09 during midday trading on Friday, hitting $13.29. The company had a trading volume of 2,821,533 shares, compared to its average volume of 3,229,598. 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 company has a market capitalization of $4.94 billion, a PE ratio of 10.89, a P/E/G ratio of 3.74 and a beta of 1.32. NOV Inc. has a twelve month low of $10.84 and a twelve month high of $18.11. The firm's 50-day simple moving average is $12.87 and its 200-day simple moving average is $13.23.

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 return on equity of 7.25% and a net margin of 5.36%.The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the business earned $0.57 EPS. The firm's revenue was down 1.3% compared to the same quarter last year. NOV has set its Q3 2025 guidance at EPS. Equities research analysts predict that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued 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

Several analysts have issued reports on NOV shares. Susquehanna set a $17.00 price target on shares of NOV and gave the stock a "positive" rating in a research report on Wednesday, July 30th. Evercore ISI decreased 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 decreased 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. Stifel Nicolaus decreased their price target on shares of NOV from $22.00 to $20.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Finally, Wells Fargo & Company lowered their price objective on NOV from $11.00 to $10.00 and set an "underweight" rating on the stock in a research note on Thursday, June 5th. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently 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.