Bayforest Capital Ltd Grows Stock Holdings in NOV Inc. $NOV

by · The Cerbat Gem

Bayforest Capital Ltd increased its stake in shares of NOV Inc. (NYSE:NOV – Free Report) by 28.3% in the 2nd quarter, Holdings Channel reports. The firm owned 61,623 shares of the oil and gas exploration company’s stock after buying an additional 13,582 shares during the period. Bayforest Capital Ltd’s holdings in NOV were worth $766,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NOV. AQR Capital Management LLC increased its holdings in 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 buying an additional 3,362,853 shares during the last quarter. Nuveen LLC purchased a new stake in shares of NOV in the first quarter worth $33,742,000. Caisse DE Depot ET Placement DU Quebec purchased a new position in NOV during the first quarter valued at $23,589,000. Dimensional Fund Advisors LP grew its stake in NOV by 7.9% during the first quarter. Dimensional Fund Advisors LP now owns 18,122,455 shares of the oil and gas exploration company’s stock valued at $275,818,000 after acquiring an additional 1,329,327 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in NOV during the first quarter valued at $19,915,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

NOV Stock Performance

NOV opened at $12.73 on Tuesday. 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 firm has a fifty day moving average price of $12.90 and a 200 day moving average price of $12.82. NOV Inc. has a 1 year low of $10.84 and a 1 year high of $16.86. The stock has a market cap of $4.73 billion, a P/E ratio of 10.43, a P/E/G ratio of 3.56 and a beta of 1.26.

NOV (NYSE:NOV – Get Free Report) 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 the consensus estimate of $0.30 by ($0.01). The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. NOV had a net margin of 5.36% and a return on equity of 7.25%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 earnings per share. NOV has set its Q3 2025 guidance at EPS. Equities research analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.4%. NOV’s dividend payout ratio is presently 24.59%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of NOV in a research report on Wednesday, October 8th. Zacks Research upgraded shares of NOV from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Evercore ISI decreased their price objective on shares of NOV from $15.00 to $14.00 and set an “in-line” rating for the company in a report on Wednesday, July 30th. Stifel Nicolaus reduced their price target on shares of NOV from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. downgraded shares of NOV from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $17.00 to $15.00 in a research report on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, NOV presently has an average rating of “Hold” and an average target price of $15.79.

Check Out Our Latest Analysis on NOV

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.

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