Perbak Capital Partners LLP Makes New Investment in NOV Inc. $NOV

Key Points

• Perbak Capital Partners LLP made a new investment in NOV Inc., acquiring 24,118 shares valued at approximately $367,000, as reported in their latest 13F filing.
• Several hedge funds have increased their positions in NOV, with institutional investors now holding 93.27% of the company's stock.
• NOV announced a quarterly dividend of $0.075 per share, reflecting a 2.3% yield, with the payout scheduled for September 26th.

Perbak Capital Partners LLP purchased a new stake in shares of NOV Inc. (NYSE:NOV - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,118 shares of the oil and gas exploration company's stock, valued at approximately $367,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOV. Stifel Financial Corp boosted its stake in NOV by 8.0% during the fourth quarter. Stifel Financial Corp now owns 99,123 shares of the oil and gas exploration company's stock valued at $1,447,000 after buying an additional 7,316 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in NOV by 6.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 235,171 shares of the oil and gas exploration company's stock valued at $3,434,000 after buying an additional 14,639 shares during the last quarter. Northern Trust Corp boosted its stake in NOV by 27.3% during the fourth quarter. Northern Trust Corp now owns 3,685,547 shares of the oil and gas exploration company's stock valued at $53,809,000 after buying an additional 790,010 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in NOV during the fourth quarter valued at approximately $365,000. Finally, Algert Global LLC lifted its stake in shares of NOV by 21.0% in the 4th quarter. Algert Global LLC now owns 321,810 shares of the oil and gas exploration company's stock valued at $4,698,000 after purchasing an additional 55,796 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Piper Sandler lowered 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. Royal Bank Of Canada lowered their price objective on NOV from $19.00 to $18.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Morgan Stanley lowered their price objective on NOV from $18.00 to $15.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Susquehanna set a $17.00 price objective on NOV and gave the company a "positive" rating in a research note on Wednesday, July 30th. Finally, Stifel Nicolaus lowered their price objective on NOV from $22.00 to $20.00 and set a "buy" rating for the company in a research note on Wednesday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $16.56.

NOV Trading Down 0.5%

Shares of NYSE NOV traded down $0.07 during midday trading on Friday, hitting $13.30. The company's stock had a trading volume of 3,113,790 shares, compared to its average volume of 3,050,173. The company has a current ratio of 2.58, a quick ratio of 1.72 and a debt-to-equity ratio of 0.26. The business's 50 day moving average is $12.89 and its two-hundred day moving average is $13.11. NOV Inc. has a 12-month low of $10.84 and a 12-month high of $17.12. The firm has a market cap of $4.94 billion, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 3.80 and a beta of 1.34.

NOV (NYSE:NOV - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $2.19 billion during the quarter, compared to analysts' expectations of $2.16 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. The company'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, equities research analysts expect that NOV Inc. will post 1.4 EPS 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 $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, September 12th. NOV's dividend payout ratio is presently 24.59%.

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.