Panagora Asset Management Inc. Sells 118,319 Shares of NOV Inc. $NOV

Key Points

• Panagora Asset Management Inc. reduced its stake in NOV Inc. by 46.1%, selling 118,319 shares and bringing its total holdings to 138,386 shares valued at approximately $2.1 million.
• NOV Inc. reported a quarterly loss of $0.29 EPS, missing the analysts' expectations of $0.30, while experiencing a 1.3% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.075 per share, yielding 2.3%, with a ex-dividend date on September 12th.

Panagora Asset Management Inc. trimmed its holdings in shares of NOV Inc. (NYSE:NOV - Free Report) by 46.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 138,386 shares of the oil and gas exploration company's stock after selling 118,319 shares during the quarter. Panagora Asset Management Inc.'s holdings in NOV were worth $2,106,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NOV. ProShare Advisors LLC raised its stake in NOV by 6.1% during the fourth quarter. ProShare Advisors LLC now owns 18,204 shares of the oil and gas exploration company's stock valued at $266,000 after purchasing an additional 1,042 shares in the last quarter. Vident Advisory LLC raised its stake in NOV by 9.6% during the first quarter. Vident Advisory LLC now owns 12,860 shares of the oil and gas exploration company's stock valued at $196,000 after purchasing an additional 1,126 shares in the last quarter. Keeley Teton Advisors LLC raised its stake in NOV by 1.1% during the first quarter. Keeley Teton Advisors LLC now owns 107,317 shares of the oil and gas exploration company's stock valued at $1,633,000 after purchasing an additional 1,128 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in NOV by 30.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,937 shares of the oil and gas exploration company's stock valued at $75,000 after purchasing an additional 1,155 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its stake in NOV by 2.5% during the first quarter. Canandaigua National Bank & Trust Co. now owns 61,363 shares of the oil and gas exploration company's stock valued at $934,000 after purchasing an additional 1,468 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. 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 note on Wednesday, July 30th. Royal Bank Of Canada reduced their target price on shares of NOV from $19.00 to $18.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. Susquehanna set a $17.00 price target on shares of NOV and gave the stock a "positive" rating in a report on Wednesday, July 30th. Stifel Nicolaus cut their price target on shares of NOV from $22.00 to $20.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. cut shares of NOV from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $17.00 to $15.00 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, the stock currently has an average rating of "Hold" and an average target price of $16.56.

NOV Stock Down 0.5%

NOV stock traded down $0.07 during midday trading on Friday, hitting $13.30. 3,113,790 shares of the company's stock were exchanged, compared to its average volume of 3,027,323. 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 Inc. has a 12 month low of $10.84 and a 12 month high of $17.12. The firm has a 50-day moving average of $12.89 and a two-hundred day moving average of $13.12. The company has a market cap of $4.94 billion, a PE ratio of 10.90, a P/E/G ratio of 3.80 and a beta of 1.34.

NOV (NYSE:NOV - Get Free Report) last issued its 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 return on equity of 7.25% and a net margin of 5.36%.The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the company earned $0.57 earnings per share. The firm's revenue was down 1.3% on a year-over-year basis. NOV has set its Q3 2025 guidance at EPS. As a group, analysts expect that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

The firm also recently announced 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. This represents a $0.30 annualized dividend and a yield of 2.3%. The ex-dividend date 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.