Advisors Asset Management Inc. Sells 1,042 Shares of NOV Inc. $NOV

Advisors Asset Management Inc. lowered its position in NOV Inc. (NYSE:NOV) by 7.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,405 shares of the oil and gas exploration company’s stock after selling 1,042 shares during the quarter. Advisors Asset Management Inc.’s holdings in NOV were worth $189,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Pzena Investment Management LLC grew its stake in NOV by 0.3% in the first quarter. Pzena Investment Management LLC now owns 41,564,404 shares of the oil and gas exploration company’s stock worth $632,610,000 after purchasing an additional 106,011 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in NOV by 2.1% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 40,487,598 shares of the oil and gas exploration company’s stock worth $616,221,000 after buying an additional 833,158 shares during the period. Vanguard Group Inc. lifted its holdings in NOV by 1.5% during the first quarter. Vanguard Group Inc. now owns 39,463,027 shares of the oil and gas exploration company’s stock worth $600,627,000 after buying an additional 566,160 shares during the period. Dimensional Fund Advisors LP lifted its holdings in NOV by 7.9% during the first quarter. Dimensional Fund Advisors LP now owns 18,122,455 shares of the oil and gas exploration company’s stock worth $275,818,000 after buying an additional 1,329,327 shares during the period. Finally, Northern Trust Corp lifted its holdings in NOV by 12.6% during the first quarter. Northern Trust Corp now owns 4,150,911 shares of the oil and gas exploration company’s stock worth $63,177,000 after buying an additional 465,364 shares during the period. Institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on NOV. Piper Sandler lowered their target price on NOV from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, August 14th. Stifel Nicolaus lowered their target price on NOV from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, July 30th. Morgan Stanley lowered their target price on NOV from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Evercore ISI lowered their target price on NOV from $15.00 to $14.00 and set an “in-line” rating for the company in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lowered NOV from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $17.00 to $15.00 in a report on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $16.56.

NOV Stock Performance

Shares of NOV opened at $12.89 on Friday. NOV Inc. has a 12 month low of $10.84 and a 12 month high of $17.12. The stock has a fifty day moving average price of $12.89 and a 200-day moving average price of $13.07. 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 firm has a market cap of $4.79 billion, a PE ratio of 10.57, a P/E/G ratio of 3.81 and a beta of 1.34.

NOV (NYSE:NOV) last issued its quarterly earnings data 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). 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 analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the company posted $0.57 EPS. 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. Equities research analysts predict that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

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