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NOV Inc. - NOV STOCK NEWS

Welcome to our dedicated page for NOV news (Ticker: NOV), a resource for investors and traders seeking the latest updates and insights on NOV stock.

NOV Inc. (NYSE: NOV) is a globally recognized leader in the design, manufacturing, and sale of equipment and components used in oil and gas drilling and production operations. The company also offers vital oilfield services to the oil and gas industry, leveraging over 150 years of experience to drive customer success. NOV's extensive portfolio includes high-quality products such as downhole tools, drill pipe, and well casing. With a substantial international presence, nearly two-thirds of NOV's revenue is generated from global markets.

Through continuous innovation, NOV has developed some of the highest quality products available in the market. The company prides itself on having the technical expertise, advanced equipment, and comprehensive support necessary for its customers to excel in a challenging and evolving industry.

Recent achievements and ongoing projects highlight NOV's commitment to excellence and innovation. The company's partnerships with key industry players have resulted in pioneering solutions that address the complexities of modern oil and gas operations. Financially, NOV remains robust, consistently investing in new technologies and expanding its global footprint to better serve its customers.

Whether you are an investor looking to understand NOV's market position or a professional seeking the latest equipment and service offerings, NOV stands as a beacon of reliability and innovation within the oil and gas sector.

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NOV (NYSE: NOV) has scheduled a conference call for July 26, 2024, at 10 a.m. CT to discuss its second quarter 2024 financial results. The company will release its earnings report after market close on July 25, 2024. Investors and interested parties can access the live webcast through NOV's investor relations website.

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NOV (NYSE: NOV) has announced a 50% increase in its regular quarterly cash dividend. The new dividend is $0.075 per share of common stock, payable on June 28, 2024, to stockholders of record on June 14, 2024. This increase aligns with NOV's capital return framework, which aims to return at least 50% of Excess Free Cash Flow to shareholders. Excess Free Cash Flow is defined as cash flow from operations minus capital expenditures and other investments, including acquisitions. The return includes steady quarterly base dividends, opportunistic stock buybacks, and an annual supplemental dividend.

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NOV Inc. (NYSE: NOV) reported first quarter 2024 results with revenue of $2.16 billion, a 10% increase year-over-year. Operating profit was $162 million, up $36 million year-over-year, while net income was $119 million, down $7 million. Adjusted EBITDA increased by $46 million to $241 million. The company plans to return 50% of Excess Free Cash Flow annually through dividends, repurchases, and supplemental dividends, with a $1 billion share repurchase authorization. NOV also intends to increase its base dividend by 50% starting in June 2024.
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Arcosa, Inc. (NYSE: ACA) completes the acquisition of Ameron Pole Products for $180 million, expanding its infrastructure product offerings. Ameron, a leading manufacturer of concrete and steel poles, had revenues of $94 million in 2023. The acquisition aims to accelerate Arcosa's growth in Engineered Structures, supported by cash flow and strategic acquisitions.
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NOV Inc. (NYSE: NOV) announces a conference call to discuss its first quarter 2024 results on April 26, 2024, following the release of the Company's results on April 25, 2024.
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Arcosa, Inc. (NYSE: ACA) acquires Ameron Pole Products, LLC for $180 million, expanding into the concrete and steel pole lighting market. Ameron had revenues of $94 million and Adjusted EBITDA of $20 million in 2023. The acquisition is expected to enhance Arcosa's Engineered Structures segment and increase exposure to growing infrastructure markets.
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NOV Inc. (NYSE: NOV) appoints Patricia Martinez to its Board of Directors, bringing extensive industry experience in energy businesses and the energy transition. Martinez's background includes roles at Enerflex Ltd. and Valerus Compression Services, enhancing NOV's energy transition strategy.
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NOV Inc. establishes regional headquarters in Dammam, Saudi Arabia, emphasizing commitment to the region. The facility aims to enhance operational efficiency and strengthen market position by fostering collaboration with regional stakeholders. The ceremony highlighted collaborative efforts between NOV and the Ministry of Investment, focusing on driving economic growth and innovation in the energy sector.
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The press release regarding NOV has been deleted by the news provider.
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NOV Inc. (NYSE: NOV) declares a regular quarterly cash dividend of $0.05 per share of common stock, payable on March 28, 2024, to stockholders of record on March 14, 2024.
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FAQ

What does NOV Inc. specialize in?

NOV Inc. specializes in the design, manufacture, and sale of equipment and components used in oil and gas drilling and production operations, as well as providing essential oilfield services.

How long has NOV Inc. been in the industry?

NOV Inc. leverages over 150 years of experience in the oil and gas industry to deliver high-quality products and services.

What products does NOV Inc. offer?

NOV Inc. offers a wide range of products including downhole tools, drill pipe, and well casing.

What percentage of NOV Inc.'s revenue comes from international markets?

Nearly two-thirds of NOV Inc.'s annual revenue is generated from international markets.

What sets NOV Inc. apart from its competitors?

NOV Inc. is distinguished by its extensive experience, technical expertise, advanced equipment, and unwavering commitment to innovation and customer success.

What recent achievements has NOV Inc. made?

NOV Inc. has recently achieved significant milestones in innovation and has strengthened its global presence through key partnerships and new technological advancements.

How does NOV Inc. support its customers?

NOV Inc. provides comprehensive support including technical expertise, advanced equipment, and readily available assistance to ensure customer success.

Is NOV Inc. financially stable?

Yes, NOV Inc. is financially robust and continues to invest in new technologies and expand its global operations.

What kind of services does NOV Inc. provide?

NOV Inc. offers essential oilfield services tailored to the needs of the oil and gas industry, supporting drilling and production operations.

Why should investors consider NOV Inc.?

Investors should consider NOV Inc. for its strong market position, innovative product portfolio, global revenue base, and commitment to driving lasting success in the oil and gas sector.

NOV Inc.

NYSE:NOV

NOV Rankings

NOV Stock Data

7.33B
395.54M
0.67%
95.69%
2.45%
Oil and Gas Field Machinery and Equipment Manufacturing
Manufacturing
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United States of America
HOUSTON