Empowered Funds LLC Buys 488,027 Shares of NOV Inc. $NOV

Empowered Funds LLC increased its stake in shares of NOV Inc. (NYSE:NOV) by 2,266.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 509,555 shares of the oil and gas exploration company’s stock after acquiring an additional 488,027 shares during the quarter. Empowered Funds LLC owned about 0.14% of NOV worth $7,755,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Banque Cantonale Vaudoise bought a new position in NOV during the first quarter worth $25,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of NOV in the first quarter valued at $36,000. CX Institutional acquired a new position in shares of NOV in the first quarter valued at $42,000. Quarry LP raised 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 in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of NOV by 66.7% in the first quarter. UMB Bank n.a. now owns 3,895 shares of the oil and gas exploration company’s stock valued at $59,000 after purchasing an additional 1,558 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

NOV Stock Up 0.1%

Shares of NYSE:NOV opened at $13.07 on Thursday. The company’s fifty day moving average is $12.90 and its 200-day moving average is $13.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.72 and a current ratio of 2.58. The company has a market capitalization of $4.85 billion, a PE ratio of 10.71, a P/E/G ratio of 3.73 and a beta of 1.34. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $17.12.

NOV (NYSE:NOV) last announced its earnings results 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). The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. NOV had a return on equity of 7.25% and a net margin of 5.36%.NOV’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.57 EPS. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, September 12th. NOV’s dividend payout ratio is presently 24.59%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. JPMorgan Chase & Co. lowered NOV from an “overweight” rating to a “neutral” rating and cut their target price for the company from $17.00 to $15.00 in a research note on Wednesday, July 30th. Wells Fargo & Company lowered their price target on NOV from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Thursday, June 5th. Morgan Stanley lowered their price target on NOV from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Evercore ISI reduced their target price on shares of NOV from $15.00 to $14.00 and set an “in-line” rating on the stock in a research note on Wednesday, July 30th. Finally, Stifel Nicolaus reduced their target price on shares of NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.