Polaris Capital Management LLC Decreases Stock Holdings in NOV Inc. $NOV

Polaris Capital Management LLC trimmed its holdings in shares of NOV Inc. (NYSE:NOV) by 5.8% in the second quarter, HoldingsChannel.com reports. The fund owned 1,303,660 shares of the oil and gas exploration company’s stock after selling 80,600 shares during the period. Polaris Capital Management LLC’s holdings in NOV were worth $16,204,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new position in NOV during the first quarter valued at $25,000. Mirae Asset Global Investments Co. Ltd. bought a new position in NOV during the first quarter valued at $36,000. CX Institutional bought a new position in NOV during the first quarter valued at $42,000. Signaturefd LLC grew its holdings in NOV by 33.2% during 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. Finally, Quarry LP grew its holdings in NOV by 119.7% during the first quarter. Quarry LP now owns 3,407 shares of the oil and gas exploration company’s stock valued at $52,000 after purchasing an additional 1,856 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

NOV Trading Up 3.5%

Shares of NOV stock opened at $13.70 on Friday. 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 52-week low of $10.84 and a 52-week high of $16.86. The company has a market capitalization of $5.09 billion, a PE ratio of 11.23, a price-to-earnings-growth ratio of 3.81 and a beta of 1.26. The business’s fifty day moving average is $12.85 and its 200 day moving average is $12.93.

NOV (NYSE:NOV) 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 analysts’ consensus estimates of $0.30 by ($0.01). NOV had a return on equity of 7.25% and a net margin of 5.36%.The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the business posted $0.57 EPS. The company’s quarterly revenue was down 1.3% on a year-over-year basis. NOV has set its Q3 2025 guidance at EPS. On average, equities research analysts anticipate that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a dividend of $0.075 per share. The ex-dividend date was Friday, September 12th. This represents a $0.30 dividend on an annualized basis and a yield of 2.2%. NOV’s dividend payout ratio (DPR) is presently 24.59%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NOV. Evercore ISI reduced their price objective on NOV from $15.00 to $14.00 and set an “in-line” rating for the company in a report on Wednesday, July 30th. Royal Bank Of Canada cut their price target on NOV from $19.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, July 30th. JPMorgan Chase & Co. lowered NOV from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $17.00 to $15.00 in a report on Wednesday, July 30th. Piper Sandler cut their price target on NOV from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, August 14th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of NOV in a report on Saturday, September 27th. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.56.

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.