Charles Schwab Investment Management Inc. Boosts Position in NOV Inc. (NYSE:NOV)

Charles Schwab Investment Management Inc. increased its position in shares of NOV Inc. (NYSE:NOV) by 1.9% during the third quarter, HoldingsChannel.com reports. The fund owned 2,927,965 shares of the oil and gas exploration company’s stock after acquiring an additional 55,056 shares during the period. Charles Schwab Investment Management Inc.’s holdings in NOV were worth $46,760,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Mather Group LLC. raised its position in shares of NOV by 17.2% during the 2nd quarter. Mather Group LLC. now owns 5,706 shares of the oil and gas exploration company’s stock valued at $111,000 after buying an additional 839 shares in the last quarter. GAMMA Investing LLC raised its position in NOV by 18.2% during the second quarter. GAMMA Investing LLC now owns 5,496 shares of the oil and gas exploration company’s stock valued at $104,000 after purchasing an additional 848 shares in the last quarter. Truist Financial Corp lifted its stake in NOV by 3.4% during the second quarter. Truist Financial Corp now owns 29,729 shares of the oil and gas exploration company’s stock worth $565,000 after purchasing an additional 991 shares during the last quarter. HM Payson & Co. boosted its stake in NOV by 2.1% in the third quarter. HM Payson & Co. now owns 49,000 shares of the oil and gas exploration company’s stock worth $783,000 after buying an additional 1,000 shares in the last quarter. Finally, KBC Group NV grew its position in NOV by 11.8% during the third quarter. KBC Group NV now owns 11,060 shares of the oil and gas exploration company’s stock valued at $177,000 after acquiring an additional 1,163 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

NOV has been the subject of several analyst reports. Wells Fargo & Company cut their price target on shares of NOV from $16.00 to $15.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Susquehanna cut their price target on shares of NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a report on Monday, October 28th. Citigroup downgraded shares of NOV from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $21.00 to $18.00 in a research note on Monday, November 11th. BMO Capital Markets cut their target price on NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Thursday, October 10th. Finally, Morgan Stanley lowered their price target on NOV from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $21.64.

Insider Activity

In other news, Director David D. Harrison sold 1,784 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the completion of the sale, the director now owns 110,951 shares of the company’s stock, valued at $1,786,311.10. This trade represents a 1.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.85% of the company’s stock.

NOV Trading Up 0.2 %

Shares of NOV opened at $16.02 on Monday. The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of 5.91, a PEG ratio of 0.93 and a beta of 1.66. The company has a 50-day moving average of $16.00 and a 200 day moving average of $17.33. NOV Inc. has a 1-year low of $14.98 and a 1-year high of $21.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65.

NOV Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Friday, December 6th. NOV’s dividend payout ratio (DPR) is presently 11.07%.

NOV 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.