NOV Inc. $NOV Position Cut by Trexquant Investment LP

Key Points

• Trexquant Investment LP reduced its stake in NOV Inc. by 35.2%, selling 271,652 shares and now owns 499,983 shares valued at approximately $7.61 million.
• NOV Inc.'s recent earnings report showed a quarterly revenue of $2.19 billion, slightly above estimates, but earnings per share missed expectations by $0.01.
• The company declared a quarterly dividend of $0.075 per share, resulting in a 2.3% yield and a payout ratio of 24.59%.

Trexquant Investment LP lessened its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 35.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 499,983 shares of the oil and gas exploration company's stock after selling 271,652 shares during the quarter. Trexquant Investment LP owned 0.13% of NOV worth $7,610,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NOV. Mariner LLC lifted its position in shares of NOV by 2.9% during the 4th quarter. Mariner LLC now owns 24,201 shares of the oil and gas exploration company's stock worth $353,000 after buying an additional 672 shares during the last quarter. Stifel Financial Corp lifted its position in shares of NOV by 8.0% during the 4th quarter. Stifel Financial Corp now owns 99,123 shares of the oil and gas exploration company's stock worth $1,447,000 after buying an additional 7,316 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of NOV by 6.6% in the 4th 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 acquiring an additional 14,639 shares during the period. Coldstream Capital Management Inc. acquired a new position in shares of NOV in the 4th quarter valued at $148,000. Finally, Northern Trust Corp increased its holdings in shares of NOV by 27.3% in the 4th 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 acquiring an additional 790,010 shares during the period. Hedge funds and other institutional investors own 93.27% of the company's stock.

Wall Street Analysts Forecast Growth

NOV has been the topic of a number of recent research reports. Royal Bank Of Canada cut their target price on shares of NOV from $19.00 to $18.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. Wells Fargo & Company dropped their price objective on shares of NOV from $11.00 to $10.00 and set an "underweight" rating on the stock in a research note on Thursday, June 5th. Piper Sandler dropped their price objective on shares of NOV from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Morgan Stanley dropped their price objective on shares of NOV from $18.00 to $15.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Finally, Stifel Nicolaus lowered their price target 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. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $16.56.

NOV Trading Up 2.3%

NYSE:NOV traded up $0.30 on Thursday, reaching $13.28. The stock had a trading volume of 1,502,047 shares, compared to its average volume of 4,226,214. NOV Inc. has a 12-month low of $10.84 and a 12-month high of $17.12. The firm's fifty day moving average is $12.87 and its two-hundred day moving average is $13.17. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.58 and a quick ratio of 1.72. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 10.88, a P/E/G ratio of 3.77 and a beta of 1.34.

NOV (NYSE:NOV - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The oil and gas exploration company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. NOV had a net margin of 5.36% and a return on equity of 7.25%. The firm's revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business earned $0.57 EPS. NOV has set its Q3 2025 guidance at EPS. Equities analysts expect that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

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