Charles Schwab Investment Management Inc. Buys 91,800 Shares of NOV Inc. (NYSE:NOV)

Charles Schwab Investment Management Inc. raised its stake in shares of NOV Inc. (NYSE:NOV) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,019,765 shares of the oil and gas exploration company’s stock after purchasing 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 quarter.

Several other large investors have also bought and sold shares of the stock. KBC Group NV raised its position in shares of NOV by 11.8% in the 3rd quarter. KBC Group NV now owns 11,060 shares of the oil and gas exploration company’s stock worth $177,000 after acquiring an additional 1,163 shares in the last quarter. Verum Partners LLC raised its position in shares of NOV by 9.0% in the 4th quarter. Verum Partners LLC now owns 15,050 shares of the oil and gas exploration company’s stock worth $220,000 after acquiring an additional 1,248 shares in the last quarter. UMB Bank n.a. raised its position in shares of NOV by 222.3% in 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 acquiring an additional 1,612 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of NOV by 10.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company’s stock worth $271,000 after acquiring an additional 1,656 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its position in shares of NOV by 3.5% in the 4th quarter. Canandaigua National Bank & Trust Co. now owns 59,895 shares of the oil and gas exploration company’s stock worth $874,000 after acquiring an additional 2,040 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NOV. Raymond James lifted their price objective on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Royal Bank of Canada lifted their price objective on NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Barclays raised their target price on NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Tuesday, February 18th. ATB Capital restated a “sector perform” rating and issued a $19.00 target price on shares of NOV in a research note on Tuesday, December 10th. Finally, Seaport Res Ptn downgraded NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Two research 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.com, NOV has a consensus rating of “Hold” and a consensus target price of $19.60.

NOV Price Performance

NOV stock opened at $14.29 on Friday. The company has a market capitalization of $5.44 billion, a P/E ratio of 8.87, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. 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 52-week low of $13.78 and a 52-week high of $21.20. The business has a 50-day simple moving average of $14.97 and a two-hundred day simple moving average of $15.55.

NOV (NYSE:NOV) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. Research analysts expect that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.10%. NOV’s payout ratio is presently 18.63%.

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.