FMR LLC Discloses 5.617% Passive Stake in NOV Inc.

TL;DR

**FMR LLC just revealed a 5.617% passive stake in NOV Inc., signaling institutional confidence.**

AI Summary

FMR LLC, a major investment management firm, and its principal owner, Abigail P. Johnson, have disclosed a significant passive stake in NOV Inc., an oil and gas machinery company. As of December 31, 2023, FMR LLC beneficially owns 22,130,048 shares, representing 5.617% of NOV Inc.'s common stock. This filing indicates FMR LLC's position as a substantial institutional investor, which can signal confidence in NOV Inc.'s long-term prospects to other investors.

Why It Matters

This filing shows a major institutional investor, FMR LLC, has a significant stake in NOV Inc., which can be seen as a vote of confidence and may influence other investors' perceptions of the stock.

Risk Assessment

Risk Level: low — This is a passive filing, indicating no immediate intent to influence company management, which generally poses low risk to current shareholders.

Analyst Insight

Investors should note this significant institutional ownership as a potential positive signal, but also research NOV Inc.'s fundamentals and FMR LLC's investment history for a complete picture.

Key Numbers

• 22,130,048 — Shares Beneficially Owned (Total shares of NOV Inc. common stock held by FMR LLC and Abigail P. Johnson.)
• 5.617% — Percent of Class (The percentage of NOV Inc.'s common stock that FMR LLC and Abigail P. Johnson collectively own.)

Key Players & Entities

• FMR LLC (company) — reporting person and parent holding company
• NOV Inc. (company) — subject company, issuer of common stock
• Abigail P. Johnson (person) — reporting person, principal owner of FMR LLC
• 22,130,048 (dollar_amount) — shares beneficially owned by FMR LLC and Abigail P. Johnson
• 5.617% (dollar_amount) — percentage of class beneficially owned

Forward-Looking Statements

• NOV Inc. stock may experience increased investor interest due to FMR LLC's significant stake. (NOV Inc.) — medium confidence, target: next 3-6 months

FAQ

From the Filing

0000315066-24-001311.txt : 20240209 0000315066-24-001311.hdr.sgml : 20240209 20240209092831 ACCESSION NUMBER: 0000315066-24-001311 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240209 DATE AS OF CHANGE: 20240209 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NOV Inc. CENTRAL INDEX KEY: 0001021860 STANDARD INDUSTRIAL CLASSIFICATION: OIL & GAS FILED MACHINERY & EQUIPMENT [3533] ORGANIZATION NAME: 06 Technology IRS NUMBER: 760475815 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-49577 FILM NUMBER: 24611868 BUSINESS ADDRESS: STREET 1: 10353 RICHMOND AVE. CITY: HOUSTON STATE: TX ZIP: 77042 BUSINESS PHONE: 346-223-3000 MAIL ADDRESS: STREET 1: 10353 RICHMOND AVE. CITY: HOUSTON STATE: TX ZIP: 77042 FORMER COMPANY: FORMER CONFORMED NAME: NATIONAL OILWELL VARCO INC DATE OF NAME CHANGE: 20050311 FORMER COMPANY: FORMER CONFORMED NAME: NATIONAL OILWELL INC DATE OF NAME CHANGE: 19960829 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FMR LLC CENTRAL INDEX KEY: 0000315066 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] ORGANIZATION NAME: IRS NUMBER: 043532603 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 6175706339 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 FORMER COMPANY: FORMER CONFORMED NAME: FMR CORP DATE OF NAME CHANGE: 19920717 SC 13G 1 filing.txt SCHEDULE 13G Amendment No.0 NOV Inc. COMMON STOCK Cusip #62955J103 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [x] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) Cusip #62955J103 Item 1: Reporting Person - FMR LLC Item 2: (a) [ ] (b) [ ] Item 4: Delaware Item 5: 22,099,084 Item 6: 0 Item 7: 22,130,048 Item 8: 0 Item 9: 22,130,048 Item 11: 5.617% Item 12: HC Cusip #62955J103 Item 1: Reporting Person - Abigail P. Johnson Item 2: (a) [ ] (b) [ ] Item 4: United States of America Item 5: 0 Item 6: 0 Item 7: 22,130,048 Item 8: 0 Item 9: 22,130,048 Item 11: 5.617% Item 12: IN Item 1(a). Name of Issuer: NOV Inc. Item 1(b). Address of Issuer's Principal Executive Offices: 10353 RICHMOND AVE Houston, TX 77042 US Item 2(a). Name of Person Filing: FMR LLC Item 2(b). Address or Principal Business Office or, if None, Residence: 245 Summer Street, Boston, Massachusetts 02210 Item 2(c). Citizenship: Not applicable Item 2(d). Title of Class of Securities: COMMON STOCK Item 2(e). CUSIP Number: 62955J103 Item 3. This statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) or (c) and the person filing, FMR LLC, is a parent holding company in accordance with Section 240.13d-1(b)(1)(ii)(G). (Note: See Exhibit A). Item 4. Ownership (a) Amount Beneficially Owned: 22,130,048 (b) Percent of Class: 5.617% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 22,130,048 (iv) shared power to dispose or to direct the disposition of: 0 Item 5. Ownership of Five Percent or Less of a Class. Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the COMMON STOCK of NOV Inc. No one other person's interest in the COMMON STOCK of NOV Inc. is more than five percent of the total outstanding COMMON STOCK. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. See attached Exhibit A. Item 8. Identification and Classification of Members of the Group. Not applicable. Item 9. Notice of Dissolution of Group. Not applicable. I