Citigroup downgraded NOV Inc. from Buy to Neutral and set a new price target of $18.00 from $21.00 previously
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/24/2025 | $22.00 | Sector Perform → Outperform | RBC Capital Mkts |
| 1/15/2025 | $25.00 → $18.00 | Outperform → In-line | Evercore ISI |
| 1/6/2025 | Buy → Neutral | Seaport Research Partners | |
| 12/19/2024 | $17.00 | Neutral | Piper Sandler |
| 11/11/2024 | $21.00 → $18.00 | Buy → Neutral | Citigroup |
| 10/28/2024 | $28.00 → $22.00 | Buy | TD Cowen |
| 9/25/2024 | $20.00 → $16.00 | Equal Weight → Underweight | Wells Fargo |
| 7/29/2024 | $27.00 → $28.00 | Buy | TD Cowen |
SD - NOV Inc. (0001021860) (Filer)
8-K - NOV Inc. (0001021860) (Filer)
S-8 - NOV Inc. (0001021860) (Filer)
NOV Inc. (NYSE:NOV) announced today that its Board of Directors declared a regular quarterly cash dividend of $0.075 per share of common stock, payable on June 27, 2025 to each stockholder of record on June 13, 2025. NOV also announced today that its Board of Directors declared a supplemental cash dividend of $0.21 per share of common stock as part of the Company's 2024 return of capital plan. The supplemental dividend is payable on June 13, 2025 to each stockholder of record on June 2, 2025. About NOV NOV delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its customers to safely produce abundant
New admissions from National Oilwell Varco's ((NOV) former senior executives reveal that the company reported costs instead of sales revenues when calculating commissions owed to Enhanced Industrial Technologies, LLC ("EIT") under a consulting agreement that helped launch NOV's oil & gas separations business. The admissions are central to the fraud and breach-of-contract lawsuit pending in Harris County District Court (Cause No. 2021-12076), in which EIT seeks $62 million in actual damages, plus punitive damages. In sworn deposition testimony, Larry Engel, former President of NOV's Process & Flow Technologies division, confirmed that EIT was to be paid commissions based on the sales price
Net Income of $73 million, or $0.19 per share, down $46 million year-over-year Adjusted EBITDA* of $252 million, an increase of $11 million year-over-year Cash flow from operations of $135 million and free cash flow* of $51 million Returned $109 million of capital to shareholders through share repurchases and dividends *Free Cash Flow, Excess Free Cash Flow and Adjusted EBITDA are non-GAAP measures, see "Non-GAAP Financial Measures," "Reconciliation of Cash Flows from Operating Activities to Free Cash Flow and Excess Free Cash Flow" and "Reconciliation of Adjusted EBITDA to Net Income" below. NOV Inc. (NYSE:NOV) today reported first quarter 2025 revenues of $2.10 billion, a decrea