Vest Financial LLC Acquires 130,288 Shares of NOV Inc. $NOV

Key Points

• Vest Financial LLC increased its holdings in NOV Inc. by 82.7% in Q2, acquiring 130,288 shares, bringing its total to 287,784 shares worth $3.58 million.
• Several institutional investors have significantly increased their stakes in NOV, with total institutional ownership now at 93.27%.
• Despite a revenue miss in its latest earnings report, analysts maintain a mixed rating on NOV with an average target price of $15.79 and an overall rating of "Hold."

Vest Financial LLC grew its holdings in NOV Inc. (NYSE:NOV - Free Report) by 82.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 287,784 shares of the oil and gas exploration company's stock after acquiring an additional 130,288 shares during the quarter. Vest Financial LLC owned 0.08% of NOV worth $3,577,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NOV. GAMMA Investing LLC boosted its position in shares of NOV by 4,053.5% in the first quarter. GAMMA Investing LLC now owns 65,750 shares of the oil and gas exploration company's stock valued at $1,001,000 after acquiring an additional 64,167 shares during the period. CX Institutional bought a new stake in shares of NOV in the first quarter valued at about $42,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of NOV by 62.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 56,539 shares of the oil and gas exploration company's stock valued at $861,000 after acquiring an additional 21,813 shares during the period. Hennessy Advisors Inc. boosted its position in shares of NOV by 52.4% in the first quarter. Hennessy Advisors Inc. now owns 50,900 shares of the oil and gas exploration company's stock valued at $775,000 after acquiring an additional 17,500 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in NOV by 382.9% in the first quarter. Exchange Traded Concepts LLC now owns 18,201 shares of the oil and gas exploration company's stock valued at $277,000 after purchasing an additional 14,432 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Royal Bank Of Canada dropped their price target on NOV from $19.00 to $18.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Zacks Research raised NOV from a "strong sell" rating to a "hold" rating in a research note on Monday, October 6th. Stifel Nicolaus dropped their price target on NOV from $22.00 to $20.00 and set a "buy" rating for the company in a research note on Wednesday, July 30th. Evercore ISI dropped their price target on NOV from $15.00 to $14.00 and set an "in-line" rating for the company in a research note on Wednesday, July 30th. Finally, Piper Sandler dropped their price target on NOV from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, August 14th. Six equities 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. Based on data from MarketBeat.com, NOV has an average rating of "Hold" and a consensus target price of $15.79.

NOV Stock Up 3.4%

Shares of NYSE NOV opened at $12.73 on Tuesday. The company has a current ratio of 2.58, a quick ratio of 1.72 and a debt-to-equity ratio of 0.26. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 3.56 and a beta of 1.26. NOV Inc. has a 12 month low of $10.84 and a 12 month high of $16.86. The stock has a 50-day moving average price of $12.90 and a two-hundred day moving average price of $12.82.

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 the consensus estimate of $0.30 by ($0.01). The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. NOV had a return on equity of 7.25% and a net margin of 5.36%.The firm's revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 EPS. NOV has set its Q3 2025 guidance at EPS. As a group, analysts forecast that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, September 12th. NOV's payout ratio is 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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