Quantbot Technologies LP Has $1.47 Million Stock Position in NOV Inc. $NOV

Key Points

• Quantbot Technologies LP reduced its stake in NOV Inc. by 80%, ending the first quarter with 96,274 shares worth approximately $1.47 million after selling 383,955 shares.
• NOV reported Q2 earnings of $0.29 per share, missing expectations, while revenue was $2.19 billion, slightly beating estimates.
• The company declared a quarterly dividend of $0.075 per share, which translates to a 2.3% dividend yield, with the payment date set for September 26.

Quantbot Technologies LP reduced its holdings in NOV Inc. (NYSE:NOV - Free Report) by 80.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,274 shares of the oil and gas exploration company's stock after selling 383,955 shares during the quarter. Quantbot Technologies LP's holdings in NOV were worth $1,465,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of NOV in the fourth quarter worth approximately $3,332,000. Barclays PLC increased its position in shares of NOV by 3.6% in the fourth quarter. Barclays PLC now owns 490,580 shares of the oil and gas exploration company's stock worth $7,161,000 after acquiring an additional 17,035 shares in the last quarter. Mariner LLC increased its position in shares of NOV by 2.9% in the fourth quarter. Mariner LLC now owns 24,201 shares of the oil and gas exploration company's stock worth $353,000 after acquiring an additional 672 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of NOV by 6,574.9% in the fourth quarter. NewEdge Advisors LLC now owns 21,827 shares of the oil and gas exploration company's stock worth $319,000 after acquiring an additional 21,500 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of NOV by 8.1% in the fourth quarter. First Trust Advisors LP now owns 1,495,891 shares of the oil and gas exploration company's stock worth $21,840,000 after acquiring an additional 112,633 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

NOV Stock Up 2.4%

NOV stock traded up $0.32 during trading hours on Wednesday, hitting $13.19. The company's stock had a trading volume of 1,318,626 shares, compared to its average volume of 4,252,385. 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 has a market capitalization of $4.90 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 3.73 and a beta of 1.32. NOV Inc. has a 12 month low of $10.84 and a 12 month high of $18.11. The stock has a 50 day moving average price of $12.89 and a two-hundred day moving average price of $13.27.

NOV (NYSE:NOV - Get Free Report) last posted its earnings results on Monday, July 28th. The oil and gas exploration company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. NOV had a return on equity of 7.25% and a net margin of 5.36%.The business's revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 earnings per share. NOV has set its Q3 2025 guidance at EPS. On average, equities research analysts expect that NOV Inc. will post 1.4 earnings per share for the current 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 given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, September 12th. NOV's payout ratio is currently 24.59%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NOV. Stifel Nicolaus dropped their target price 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. Barclays lowered their price objective on shares of NOV from $13.00 to $11.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Royal Bank Of Canada lowered their price objective on shares of NOV from $19.00 to $18.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Morgan Stanley lowered their price objective on shares of NOV from $18.00 to $15.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Finally, Piper Sandler lowered their price objective 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. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, NOV has an average rating of "Hold" and a consensus price target of $16.56.

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.