Sequoia Financial Advisors LLC Takes $600,000 Position in NOV Inc. $NOV

Key Points

• Sequoia Financial Advisors LLC has acquired a new position in NOV Inc., purchasing 48,256 shares valued at approximately $600,000 in the second quarter.
• Several brokerages have recently downgraded NOV's stock ratings, with JPMorgan reducing its target price from $17.00 to $15.00.
• In its most recent earnings report, NOV missed earnings estimates, reporting $0.29 EPS against a consensus of $0.30 EPS.

Sequoia Financial Advisors LLC purchased a new position in shares of NOV Inc. (NYSE:NOV - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 48,256 shares of the oil and gas exploration company's stock, valued at approximately $600,000.

A number of other large investors have also added to or reduced their stakes in NOV. Banque Cantonale Vaudoise bought a new stake in NOV during the 1st quarter worth approximately $25,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of NOV in the first quarter worth $36,000. Signaturefd LLC increased its holdings in NOV by 33.2% in the second quarter. Signaturefd LLC now owns 3,733 shares of the oil and gas exploration company's stock valued at $46,000 after purchasing an additional 931 shares during the period. Quarry LP raised its position in NOV by 119.7% during the 1st quarter. Quarry LP now owns 3,407 shares of the oil and gas exploration company's stock worth $52,000 after purchasing an additional 1,856 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings 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 during the period. Institutional investors own 93.27% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NOV. JPMorgan Chase & Co. cut NOV from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $17.00 to $15.00 in a research note on Wednesday, July 30th. Evercore ISI decreased their target price on shares of NOV from $15.00 to $14.00 and set an "in-line" rating for the company in a research report on Wednesday, July 30th. Zacks Research upgraded shares of NOV from a "strong sell" rating to a "hold" rating in a report on Monday, October 6th. Stifel Nicolaus reduced their price objective on shares of NOV from $22.00 to $20.00 and set a "buy" rating on the stock in a research note on Wednesday, July 30th. Finally, Piper Sandler lowered their target price on shares of NOV from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, August 14th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $15.79.

NOV Price Performance

Shares of NYSE NOV opened at $12.68 on Monday. The firm has a market capitalization of $4.71 billion, a P/E ratio of 10.39, a P/E/G ratio of 3.77 and a beta of 1.26. The firm's 50-day moving average price is $12.95 and its 200-day moving average price is $12.76. The company has a current ratio of 2.58, a quick ratio of 1.72 and a debt-to-equity ratio of 0.26. NOV Inc. has a 1-year low of $10.84 and a 1-year high of $16.86.

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

NOV Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, September 12th. NOV's dividend payout ratio (DPR) is currently 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.

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