NOV Inc. $NOV Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its stake in NOV Inc. (NYSE:NOV) by 2.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 132,571 shares of the oil and gas exploration company’s stock after selling 2,933 shares during the period. Oppenheimer Asset Management Inc.’s holdings in NOV were worth $1,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new position in shares of NOV during the first quarter worth about $25,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in NOV during the 1st quarter valued at about $36,000. Signaturefd LLC grew its position in NOV by 33.2% in the 2nd quarter. Signaturefd LLC now owns 3,733 shares of the oil and gas exploration company’s stock worth $46,000 after purchasing an additional 931 shares during the last quarter. Quarry LP increased its stake in shares of NOV by 119.7% in 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. Finally, GAMMA Investing LLC raised its holdings in shares of NOV by 172.9% during the first quarter. GAMMA Investing LLC now owns 4,320 shares of the oil and gas exploration company’s stock valued at $66,000 after buying an additional 2,737 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

NOV Price Performance

Shares of NOV stock opened at $15.10 on Friday. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $16.86. The company has a current ratio of 2.55, a quick ratio of 1.72 and a debt-to-equity ratio of 0.26. The stock has a market cap of $5.61 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 4.73 and a beta of 1.26. The company’s 50-day moving average price is $13.28 and its two-hundred day moving average price is $12.89.

NOV (NYSE:NOV) last announced its quarterly earnings data on Monday, October 27th. The oil and gas exploration company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.13). NOV had a return on equity of 5.89% and a net margin of 4.36%.The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the firm earned $0.33 EPS. The business’s revenue for the quarter was down .7% on a year-over-year basis. NOV has set its Q4 2025 guidance at EPS. As a group, sell-side analysts anticipate that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.30 annualized dividend and a dividend yield of 2.0%. NOV’s dividend payout ratio is currently 30.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Barclays increased their price objective on NOV from $11.00 to $14.00 and gave the stock an “underweight” rating in a report on Thursday. Royal Bank Of Canada increased their price target on NOV from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday. Stifel Nicolaus lifted their price objective on shares of NOV from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. lowered shares of NOV from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $17.00 to $15.00 in a research report on Wednesday, July 30th. Finally, Zacks Research upgraded shares of NOV from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.38.

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.