First Eagle Amends NOV Inc. Stake; Signals Portfolio Adjustment

TL;DR

**First Eagle just updated its NOV Inc. stake, watch for potential price moves.**

AI Summary

First Eagle Investment Management, LLC, a New York-based investment firm, filed an amendment (SC 13G/A) on February 9, 2024, updating its ownership in NOV Inc. (formerly National Oilwell Varco Inc.), an oil and gas machinery company. This filing, dated December 31, 2023, indicates a change in their holdings of NOV Inc.'s common shares. This matters to investors because significant changes in institutional ownership can signal a shift in confidence or strategy regarding the stock, potentially influencing its future price.

Why It Matters

Changes in institutional ownership can influence stock prices as large investors buying or selling can create demand or supply pressure. This filing shows First Eagle Investment Management, LLC is adjusting its position in NOV Inc.

Risk Assessment

Risk Level: low — This filing is a routine update of institutional ownership and does not inherently signal high risk, but rather a change in a large investor's position.

Analyst Insight

Investors should monitor subsequent filings from First Eagle Investment Management, LLC and other institutional investors to understand the full scope of their position changes in NOV Inc. and assess potential market impact.

Key Players & Entities

• First Eagle Investment Management, LLC (company) — the reporting person filing the SC 13G/A
• NOV Inc. (company) — the issuer whose securities are being reported
• National Oilwell Varco Inc. (company) — former name of NOV Inc.
• December 31, 2023 (date) — the date of the event requiring the filing
• February 9, 2024 (date) — the filing date of the SC 13G/A

FAQ

From the Filing

0001325447-24-000019.txt : 20240209 0001325447-24-000019.hdr.sgml : 20240209 20240209091559 ACCESSION NUMBER: 0001325447-24-000019 CONFORMED SUBMISSION TYPE: SC 13G/A 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/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-49577 FILM NUMBER: 24611730 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: First Eagle Investment Management, LLC CENTRAL INDEX KEY: 0001325447 ORGANIZATION NAME: IRS NUMBER: 571156902 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 1345 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10105 BUSINESS PHONE: 212-698-3300 MAIL ADDRESS: STREET 1: 1345 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10105 FORMER COMPANY: FORMER CONFORMED NAME: Arnhold & S. Bleichroeder Advisers, LLC DATE OF NAME CHANGE: 20050429 SC 13G/A 1 nov12312313ga.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G/A Under the Securities Exchange Act of 1934 (Amendment No. 7) (RULE 13d-102) Information to be included in statements filed pursuant to Rule 13d-1 (b) (c) and (d) and Amendments thereto filed pursuant to Rule 13d-2 (b). NOV Inc. (Name of Issuer) Common shares (Title of Class of Securities) 62955J103 (CUSIP/SEDOL Number) December 31, 2023 (Date of Event which Requires Filing of this Statement) 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) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). SCHEDULE 13G/A Issuer: NOV Inc. CUSIP No.: 62955J103 1 NAMES OF REPORTING PERSONS First Eagle Investment Management, LLC 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION State of Delaware NUMBER OF SHARES 5 SOLE VOTING POWER - 33,200,701 BENEFICIALLY 6 SHARED VOTING POWER - 0 OWNED BY EACH 7 SOLE DISPOSITIVE POWER - 36,658,180 REPORTING PERSON 8 SHARED DISPOSITIVE POWER - 0 WITH: 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 36,658,180 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES N/A 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9: 9.31% 12 TYPE OF REPORTING PERSON IA SCHEDULE 13G/A Issuer: NOV Inc. CUSIP No.: 62955J103 ITEM 1 (a) Name of Issuer: NOV Inc. (b) Address of Issuer's Principal Executive Offices: 10353 Richmond Ave. Houston, TX 77042 ITEM 2 (a) Name of Person Filing: First Eagle Investment Management, LLC (b) Address of Principal Business Office: 1345 Avenue of the Americas New York, NY 10105 (c) Citizenship: Delaware, USA (d) Title of Class of Securities: Common Stock (e) CUSIP No.: 62955J103 ITEM 3 If this statement is filed pursuant to Secti