Raymond James Financial Inc. Has $4.10 Million Stock Holdings in NOV Inc. $NOV

Key Points

• Raymond James Financial Inc. increased its holdings in NOV Inc. by 18.0%, owning 269,293 shares valued at approximately $4.1 million after acquiring an additional 41,041 shares in Q1.
• NOV's quarterly earnings were below expectations, reporting $0.29 EPS against a consensus estimate of $0.30, with a revenue of $2.19 billion, slightly exceeding analysts' expectations.
• The company announced a quarterly dividend of $0.075 per share, yielding 2.3%, with an ex-dividend date set for September 12th.

Raymond James Financial Inc. grew its position in NOV Inc. (NYSE:NOV - Free Report) by 18.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 269,293 shares of the oil and gas exploration company's stock after purchasing an additional 41,041 shares during the period. Raymond James Financial Inc. owned about 0.07% of NOV worth $4,099,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new stake in shares of NOV in the 1st quarter valued at $25,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of NOV in the 1st quarter valued at $36,000. CX Institutional acquired a new stake in shares of NOV in the 1st quarter valued at $42,000. UMB Bank n.a. lifted its position in NOV by 66.7% during the 1st quarter. UMB Bank n.a. now owns 3,895 shares of the oil and gas exploration company's stock worth $59,000 after buying an additional 1,558 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in NOV by 172.9% during the 1st quarter. GAMMA Investing LLC now owns 4,320 shares of the oil and gas exploration company's stock worth $66,000 after buying an additional 2,737 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. 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. Morgan Stanley reduced their price target 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. Wells Fargo & Company reduced their price target on shares of NOV from $11.00 to $10.00 and set an "underweight" rating on the stock in a research report on Thursday, June 5th. Stifel Nicolaus reduced 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, Piper Sandler reduced 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. Seven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $16.56.

NOV Trading Up 1.8%

NOV stock traded up $0.23 during trading hours on Thursday, reaching $13.30. 2,611,879 shares of the company's stock traded hands, compared to its average volume of 3,041,896. 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 fifty-two week low of $10.84 and a fifty-two week high of $17.12. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 3.74 and a beta of 1.34. The firm's 50 day moving average is $12.90 and its 200-day moving average is $13.08.

NOV (NYSE:NOV - Get Free Report) last released its earnings results on Monday, July 28th. The oil and gas exploration company reported $0.29 earnings per share (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 business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. The business's revenue for the quarter was down 1.3% on a year-over-year basis. NOV has set its Q3 2025 guidance at EPS. On average, analysts predict that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, September 12th. NOV's dividend payout ratio (DPR) is currently 24.59%.

NOV 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.