Charles Schwab Investment Management Inc. Grows Stake in NOV Inc. (NYSE:NOV)

Charles Schwab Investment Management Inc. grew its position in shares of NOV Inc. (NYSE:NOV - Free Report) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,019,765 shares of the oil and gas exploration company's stock after buying an additional 91,800 shares during the period. Charles Schwab Investment Management Inc. owned 0.78% of NOV worth $44,089,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. lifted its holdings in NOV by 222.3% during the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company's stock worth $34,000 after purchasing an additional 1,612 shares in the last quarter. Quarry LP purchased a new stake in NOV during the 3rd quarter worth about $36,000. R Squared Ltd purchased a new stake in NOV during the 4th quarter worth about $44,000. Brooklyn Investment Group purchased a new stake in NOV during the 3rd quarter worth about $48,000. Finally, Quest Partners LLC purchased a new stake in NOV during the 3rd quarter worth about $96,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

NOV Trading Up 0.7 %

NOV traded up $0.11 on Tuesday, hitting $14.71. 3,657,046 shares of the company were exchanged, compared to its average volume of 3,600,347. The firm has a fifty day simple moving average of $14.97 and a two-hundred day simple moving average of $15.49. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. NOV Inc. has a 12 month low of $13.78 and a 12 month high of $21.20. The stock has a market capitalization of $5.60 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66.

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NOV (NYSE:NOV - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. Sell-side analysts expect that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, March 14th. This represents a $0.30 annualized dividend and a yield of 2.04%. NOV's payout ratio is 18.63%.

Analysts Set New Price Targets

Several research firms have weighed in on NOV. Seaport Res Ptn cut NOV from a "strong-buy" rating to a "hold" rating in a report on Sunday, January 5th. Piper Sandler raised their price target on NOV from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, February 10th. ATB Capital reaffirmed a "sector perform" rating and issued a $19.00 price target on shares of NOV in a report on Tuesday, December 10th. Raymond James raised their price target on NOV from $18.00 to $19.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Finally, Barclays raised their price target on NOV from $12.00 to $13.00 and gave the company an "underweight" rating in a report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, NOV currently has an average rating of "Hold" and a consensus target price of $19.60.

About NOV

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits.