NOV Inc. $NOV Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB lifted its stake in shares of NOV Inc. (NYSE:NOV) by 1.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 182,832 shares of the oil and gas exploration company’s stock after acquiring an additional 3,268 shares during the period. Nordea Investment Management AB’s holdings in NOV were worth $2,323,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NOV. AQR Capital Management LLC raised its stake in shares of NOV by 88.9% during the first quarter. AQR Capital Management LLC now owns 7,146,949 shares of the oil and gas exploration company’s stock valued at $107,276,000 after purchasing an additional 3,362,853 shares during the period. Nuveen LLC acquired a new stake in NOV during the 1st quarter valued at $33,742,000. Caisse DE Depot ET Placement DU Quebec purchased a new stake in NOV during the 1st quarter worth $23,589,000. Dimensional Fund Advisors LP lifted its holdings in NOV by 7.9% in the 1st 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 in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in NOV in the 1st quarter valued at about $19,915,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NOV. Piper Sandler reduced 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. Susquehanna set a $17.00 target price on NOV and gave the company a “positive” rating in a research note on Wednesday, July 30th. Royal Bank Of Canada dropped their price target on shares of NOV from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, July 30th. Evercore ISI cut their price target on shares of NOV from $15.00 to $14.00 and set an “in-line” rating on the stock in a report on Wednesday, July 30th. Finally, Citigroup raised their price objective on shares of NOV from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.79.

NOV Trading Up 1.9%

NYSE:NOV opened at $13.32 on Thursday. NOV Inc. has a 12-month low of $10.84 and a 12-month high of $16.86. 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 business has a 50 day simple moving average of $13.01 and a 200 day simple moving average of $12.77. The firm has a market capitalization of $4.94 billion, a P/E ratio of 10.91, a P/E/G ratio of 3.89 and a beta of 1.26.

NOV (NYSE:NOV) last posted its earnings results 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). The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. NOV had a net margin of 5.36% and a return on equity of 7.25%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 earnings per share. NOV has set its Q3 2025 guidance at EPS. Equities research analysts predict that NOV Inc. will post 1.4 EPS for the current year.

NOV Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders 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 annualized dividend and a dividend yield of 2.3%. NOV’s payout ratio is currently 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.