BlackRock Maintains Significant Stake in NOV Inc. as of Dec 31, 2023
Ticker: NOV · Form: SC 13G/A · Filed: Jan 24, 2024 · CIK: 1021860
| Field | Detail |
|---|---|
| Company | Nov Inc. (NOV) |
| Form Type | SC 13G/A |
| Filed Date | Jan 24, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, oil-gas, passive-investment
TL;DR
**BlackRock still owns a big chunk of NOV Inc., signaling confidence.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 24, 2024, disclosing its ownership in NOV Inc. (formerly National Oilwell Varco Inc.) as of December 31, 2023. This filing indicates that BlackRock continues to hold a significant stake in NOV Inc.'s Common Stock, maintaining its position as a major institutional investor. For current or prospective shareholders, this confirms BlackRock's continued confidence in NOV Inc., a key player in oil and gas field machinery and equipment, which can be a positive signal regarding the company's long-term prospects.
Why It Matters
This filing shows that a major institutional investor, BlackRock, continues to hold a substantial position in NOV Inc., signaling their ongoing belief in the company's value and future performance.
Risk Assessment
Risk Level: low — This filing is routine and indicates stable institutional ownership, posing minimal immediate risk to investors.
Analyst Insight
A smart investor would view this as a confirmation of stable institutional interest in NOV Inc. and consider it as one data point among many when evaluating the company's long-term investment potential, without expecting immediate price movements from this routine filing.
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- NOV Inc. (company) — the subject company in which BlackRock holds shares
- December 31, 2023 (date) — the date of the event requiring the filing
- January 24, 2024 (date) — the filing date of the SC 13G/A
- 62955J103 (other) — the CUSIP number for NOV Inc.'s Common Stock
Forward-Looking Statements
- BlackRock will likely maintain a significant ownership stake in NOV Inc. throughout 2024. (BlackRock Inc.) — high confidence, target: December 31, 2024
- NOV Inc.'s stock price will experience minimal volatility directly attributable to this specific filing. (NOV Inc.) — high confidence, target: February 24, 2024
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G, filed under the Securities Exchange Act of 1934.
Who is the reporting person in this filing?
The reporting person, or the entity filing this statement, is BlackRock Inc., with a Central Index Key (CIK) of 0001364742.
What company's securities are the subject of this filing?
The subject company is NOV Inc., formerly known as National Oilwell Varco Inc., with a CIK of 0001021860. The securities are its Common Stock.
What was the 'Date of Event Which Requires Filing of this Statement'?
The date of the event which requires the filing of this statement was December 31, 2023.
Under which rule is this Schedule 13G/A filed?
This Schedule 13G/A is filed under Rule 13d-1(b), as indicated by the 'X' in the appropriate box.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 24, 2024 regarding NOV Inc. (NOV).