Joseph W. Rovig, who serves as President - Energy Equipment for NOV Inc. (NYSE: NOV), completed a sale of 151,086 shares of common stock on February 23, 2026, generating approximately $3.05 million in proceeds. The shares were transacted at a weighted price of $20.1653, with reported execution prices ranging from $20.045 to $20.265.
On the same day Rovig exercised stock options to acquire the identical number of shares - 151,086 in total. Those option exercises comprised 79,086 shares at an exercise price of $15.00 each and 72,000 shares at an exercise price of $16.73 each. The aggregate cost to exercise those options totaled $2,390,850. After completion of the sale and the option exercises, Rovig directly owns 269,694 shares of NOV common stock.
The timing of the transactions coincided with NOV shares trading near their 52-week high of $20.60. The stock has rallied roughly 56% over the past six months.
NOV's recent quarterly results provide context for market activity around the company. For the fourth quarter of 2025 the company reported earnings per share of $0.21, below the consensus expectation of $0.25. Revenue for the quarter came in at $2.28 billion, surpassing expectations.
Alongside the quarterly report, NOV's board approved a 20% increase in the company's quarterly dividend, raising it to $0.09 per share. The dividend is scheduled to be paid on March 27, 2026, to shareholders of record as of March 13, 2026.
Following the earnings announcement, BMO Capital updated its view on NOV by raising its price target from $19 to $20 while retaining a Market Perform rating. The firm characterized the earnings report as overall positive despite mixed implications for 2026 forecasts.
In separate corporate governance news, Ben A. Guill resigned from NOV's board of directors, citing personal commitments. The company stated that Guill's resignation was not the result of any disagreement with the board or management.
Context and implications
The transactions by a senior operating executive - the coordinated exercise of options and sale of common stock - together with recent financial disclosures and board changes, are relevant developments for shareholders and market observers. The company’s EPS miss, revenue beat, dividend increase, analyst target revision, and a non-contentious board departure are notable items investors may weigh when assessing NOV’s near-term outlook.