NOV Inc. (NYSE:NOV) Stake Boosted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its holdings in NOV Inc. (NYSE:NOV - Free Report) by 4.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,776,524 shares of the oil and gas exploration company's stock after acquiring an additional 130,478 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.70% of NOV worth $56,308,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bruce G. Allen Investments LLC purchased a new stake in shares of NOV during the 4th quarter worth approximately $49,000. GAMMA Investing LLC acquired a new position in NOV in the fourth quarter valued at $61,000. International Assets Investment Management LLC grew its holdings in shares of NOV by 1,306.5% during the fourth quarter. International Assets Investment Management LLC now owns 3,488 shares of the oil and gas exploration company's stock worth $71,000 after purchasing an additional 3,240 shares during the last quarter. Fifth Third Bancorp increased its position in shares of NOV by 27.8% during the third quarter. Fifth Third Bancorp now owns 4,990 shares of the oil and gas exploration company's stock worth $104,000 after purchasing an additional 1,086 shares in the last quarter. Finally, Headinvest LLC purchased a new stake in shares of NOV in the 3rd quarter valued at about $108,000. Institutional investors and hedge funds own 93.27% of the company's stock.

NOV Price Performance

Shares of NYSE:NOV traded up $0.19 on Friday, reaching $19.08. 3,911,467 shares of the company were exchanged, compared to its average volume of 4,105,854. The company has a 50-day moving average of $19.07 and a 200-day moving average of $19.04. The company has a current ratio of 2.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.28. The firm has a market cap of $7.55 billion, a price-to-earnings ratio of 7.65, a price-to-earnings-growth ratio of 0.80 and a beta of 1.74. NOV Inc. has a 1-year low of $14.05 and a 1-year high of $21.91.

NOV (NYSE:NOV - Get Free Report) last issued its earnings results on Thursday, April 25th. The oil and gas exploration company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.03. NOV had a net margin of 11.23% and a return on equity of 10.21%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the prior year, the business posted $0.32 earnings per share. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. Equities analysts forecast that NOV Inc. will post 1.55 earnings per share for the current fiscal year.

NOV Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.075 per share. The ex-dividend date is Friday, June 14th. This is a boost from NOV's previous quarterly dividend of $0.05. This represents a $0.30 annualized dividend and a yield of 1.57%. NOV's payout ratio is currently 8.03%.

Wall Street Analyst Weigh In

NOV has been the topic of several research analyst reports. Stifel Nicolaus cut their price target on NOV from $28.00 to $26.00 and set a "buy" rating on the stock in a research report on Monday, February 5th. Piper Sandler lowered their price objective on shares of NOV from $25.00 to $22.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 20th. TD Cowen reduced their target price on shares of NOV from $27.00 to $26.00 and set a "buy" rating for the company in a report on Monday, April 29th. StockNews.com raised NOV from a "sell" rating to a "hold" rating in a report on Wednesday, January 31st. Finally, Raymond James decreased their price objective on NOV from $28.00 to $25.00 and set an "outperform" rating for the company in a research report on Monday, February 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $24.07.

Insiders Place Their Bets

In other NOV news, CAO Christy Lynn Novak sold 3,500 shares of the firm's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $17.43, for a total transaction of $61,005.00. Following the completion of the transaction, the chief accounting officer now directly owns 114,212 shares in the company, valued at approximately $1,990,715.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.85% of the stock is owned by company insiders.

NOV Company Profile

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.