Pzena Investment Management LLC Has $530.87 Million Stock Holdings in NOV Inc. $NOV

Key Points

• Pzena Investment Management LLC increased its holdings in NOV Inc., owning approximately 42.7 million shares valued at $530.87 million, making NOV 1.7% of its total portfolio.
• Analyst ratings for NOV show a consensus of Hold with an average price target of $16.07, while it recently experienced a drop in stock price by 6.3%.
• NOV announced a quarterly dividend of $0.075 per share, representing an annualized yield of 2.4%, with a payout ratio of 24.59%.

Pzena Investment Management LLC boosted its holdings in shares of NOV Inc. (NYSE:NOV - Free Report) by 2.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,708,890 shares of the oil and gas exploration company's stock after buying an additional 1,144,486 shares during the period. NOV makes up about 1.7% of Pzena Investment Management LLC's holdings, making the stock its 23rd biggest position. Pzena Investment Management LLC owned approximately 11.37% of NOV worth $530,872,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. AQR Capital Management LLC lifted its position in shares of NOV by 88.9% in 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 in the last quarter. Nuveen LLC acquired a new position in NOV in the 1st quarter valued at approximately $33,742,000. Caisse DE Depot ET Placement DU Quebec purchased a new stake in NOV in the 1st quarter worth approximately $23,589,000. Dimensional Fund Advisors LP boosted 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 valued at $275,818,000 after buying an additional 1,329,327 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new position in shares of NOV during the 1st quarter valued at $19,915,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NOV shares. Zacks Research raised NOV from a "strong sell" rating to a "hold" rating in a research report on Monday, October 6th. Weiss Ratings reiterated a "hold (c-)" rating on shares of NOV in a report on Wednesday, October 8th. Piper Sandler dropped their price objective on NOV from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, August 14th. Stifel Nicolaus cut their price objective 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, JPMorgan Chase & Co. cut shares of NOV from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $17.00 to $15.00 in a research note on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $16.07.

NOV Trading Down 6.3%

NYSE:NOV opened at $12.33 on Monday. NOV Inc. has a 12 month low of $10.84 and a 12 month high of $16.86. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 10.10, a P/E/G ratio of 3.56 and a beta of 1.26. The company has a quick ratio of 1.72, a current ratio of 2.58 and a debt-to-equity ratio of 0.26. The company's 50 day moving average is $12.89 and its 200-day moving average is $12.83.

NOV (NYSE:NOV - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The oil and gas exploration company reported $0.29 EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $2.16 billion. During the same period in the prior year, the business earned $0.57 EPS. The company'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. Equities analysts anticipate that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.30 dividend on an annualized basis and a yield of 2.4%. NOV's payout ratio is 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.

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