Northern Trust Corp Boosts Holdings in NOV Inc. $NOV

Northern Trust Corp grew its position in NOV Inc. (NYSE:NOV – Free Report) by 12.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,150,911 shares of the oil and gas exploration company’s stock after purchasing an additional 465,364 shares during the period. Northern Trust Corp’s holdings in NOV were worth $63,177,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of NOV in the 1st quarter valued at approximately $36,000. Exchange Traded Concepts LLC grew its stake in shares of NOV by 382.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 18,201 shares of the oil and gas exploration company’s stock valued at $277,000 after buying an additional 14,432 shares during the period. GAMMA Investing LLC grew its stake in shares of NOV by 172.9% in the 1st 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 period. Vanguard Group Inc. grew its stake in shares of NOV by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 39,463,027 shares of the oil and gas exploration company’s stock valued at $600,627,000 after buying an additional 566,160 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of NOV by 15.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 669,077 shares of the oil and gas exploration company’s stock valued at $10,183,000 after buying an additional 87,909 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Morgan Stanley dropped their price target on shares of NOV from $18.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Wells Fargo & Company decreased their price objective on shares of NOV from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Thursday, June 5th. Stifel Nicolaus decreased their price objective on shares of NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, July 30th. Royal Bank Of Canada decreased their price objective on shares of NOV from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lowered shares of NOV from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $17.00 to $15.00 in a report on Wednesday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.56.

View Our Latest Stock Analysis on NOV

NOV Price Performance

NOV stock opened at $13.16 on Tuesday. The firm has a market cap of $4.89 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 3.72 and a beta of 1.32. NOV Inc. has a 52-week low of $10.84 and a 52-week high of $18.40. The company has a quick ratio of 1.72, a current ratio of 2.58 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $12.91 and its two-hundred day moving average is $13.27.

NOV (NYSE:NOV – Get Free Report) last released 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 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%.NOV’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 earnings per share. NOV has set its Q3 2025 guidance at EPS. On average, research analysts expect that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.075 per share. 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 is 24.59%.

NOV Company Profile

(Free Report)

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.