NOV Inc. has appointed Sanjay Chowbey to its Board of Directors, effective March 17, 2026.
Quiver AI Summary
NOV Inc. has announced the appointment of Sanjay Chowbey to its Board of Directors, effective March 17, 2026. Chairman and CEO Jose Bayardo expressed confidence in Chowbey's extensive experience in leading global industrial companies and his ability to drive manufacturing and operational excellence, which will benefit shareholders. Chowbey currently serves as the President and CEO of Kennametal Inc. and has over 20 years of experience in various senior roles across notable firms, including Flowserve Corporation, Danaher Corporation, and Arvin Meritor, Inc. Additionally, he holds degrees in Mechanical Engineering and an MBA. Chowbey will also be a member of the Audit Committee, bringing the Board's total to nine directors, with eight being independent.
Potential Positives
- Appointment of Sanjay Chowbey to the Board of Directors brings extensive manufacturing and operational expertise, potentially enhancing the company's strategic direction and operational excellence.
- The addition of an experienced leader from a successful global industrial company (Kennametal Inc.) may increase shareholder confidence and drive value for NOV's shareholders.
- Mr. Chowbey's diverse background across multiple prominent industrial companies positions him to contribute valuable insights and perspectives to the board.
- The board's composition now includes eight independent directors, which can improve corporate governance and decision-making processes.
Potential Negatives
- Appointment of Sanjay Chowbey may be seen as an attempt to bring in fresh leadership and accountability during a period of scrutiny over management effectiveness.
- The press release does not address any specific challenges or controversies facing NOV Inc., which may raise concerns among investors about transparency.
- The board membership composition changes could lead to potential conflicts of interest, given Mr. Chowbey's concurrent leadership role at Kennametal Inc.
FAQ
Who is the new member of NOV Inc.'s Board of Directors?
Sanjay Chowbey has been appointed to NOV Inc.'s Board of Directors effective March 17, 2026.
What experience does Sanjay Chowbey bring to NOV Inc.?
Sanjay Chowbey has over 20 years of experience in global manufacturing and industrial technology, including roles at Kennametal Inc. and Flowserve Corporation.
What positions will Sanjay Chowbey hold at NOV Inc.?
Mr. Chowbey will serve as a director on the Board and will also be a member of the Audit Committee.
How many directors are on NOV Inc.'s Board now?
With Mr. Chowbey's appointment, NOV Inc.'s Board comprises nine directors, eight of whom are independent members.
What is NOV Inc. known for?
NOV Inc. delivers technology-driven solutions for the global energy industry, focusing on innovations that enable safe and efficient energy production.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$NOV Insider Trading Activity
$NOV insiders have traded $NOV stock on the open market 7 times in the past 6 months. Of those trades, 2 have been purchases and 5 have been sales.
Here’s a breakdown of recent trading of $NOV stock by insiders over the last 6 months:
- JOSEPH W ROVIG (President - Energy Equipment) sold 151,086 shares for an estimated $3,046,694
- CRAIG L. WEINSTOCK (Sr. VP. & Gen. Counsel) has made 0 purchases and 4 sales selling 70,000 shares for an estimated $1,405,421.
- CHRISTIAN S KENDALL has made 2 purchases buying 70,000 shares for an estimated $1,012,200 and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$NOV Revenue
$NOV had revenues of $2.3B in Q4 2025. This is a decrease of -1.34% from the same period in the prior year.
You can track NOV financials on Quiver Quantitative's NOV stock page.
$NOV Hedge Fund Activity
We have seen 195 institutional investors add shares of $NOV stock to their portfolio, and 283 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC removed 7,280,774 shares (-18.3%) from their portfolio in Q4 2025, for an estimated $113,798,497
- PRICE T ROWE ASSOCIATES INC /MD/ added 4,785,015 shares (+1743.9%) to their portfolio in Q4 2025, for an estimated $74,789,784
- PACER ADVISORS, INC. removed 3,267,354 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $51,068,743
- UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 2,970,048 shares (-76.2%) from their portfolio in Q4 2025, for an estimated $46,421,850
- ROYAL BANK OF CANADA removed 2,473,483 shares (-98.0%) from their portfolio in Q4 2025, for an estimated $38,660,539
- BANK OF AMERICA CORP /DE/ removed 1,435,821 shares (-26.9%) from their portfolio in Q4 2025, for an estimated $22,441,882
- UBS GROUP AG removed 1,311,204 shares (-68.2%) from their portfolio in Q4 2025, for an estimated $20,494,118
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$NOV Analyst Ratings
Wall Street analysts have issued reports on $NOV in the last several months. We have seen 2 firms issue buy ratings on the stock, and 1 firms issue sell ratings.
Here are some recent analyst ratings:
- Barclays issued a "Underweight" rating on 10/30/2025
- Stifel issued a "Buy" rating on 10/29/2025
- RBC Capital issued a "Outperform" rating on 10/29/2025
To track analyst ratings and price targets for $NOV, check out Quiver Quantitative's $NOV forecast page.
$NOV Price Targets
Multiple analysts have issued price targets for $NOV recently. We have seen 9 analysts offer price targets for $NOV in the last 6 months, with a median target of $20.0.
Here are some recent targets:
- Neil Mehta from Goldman Sachs set a target price of $20.0 on 03/04/2026
- Scott Gruber from Citigroup set a target price of $20.0 on 02/11/2026
- Phillip Jungwirth from BMO Capital set a target price of $20.0 on 02/09/2026
- Luke Lemoine from Piper Sandler set a target price of $18.0 on 02/09/2026
- Stephen Gengaro from Stifel set a target price of $21.0 on 02/06/2026
- David Anderson from Barclays set a target price of $20.0 on 02/04/2026
- Charles Minervino from Susquehanna set a target price of $20.0 on 01/07/2026
Full Release
HOUSTON, March 17, 2026 (GLOBE NEWSWIRE) -- NOV Inc. (NYSE: NOV) announced today that Sanjay Chowbey has been appointed to the Company’s Board of Directors (the “ Board ”), effective March 17, 2026.
“We are pleased to welcome Sanjay Chowbey to our board of directors,” said Jose Bayardo, Chairman, President, and Chief Executive Officer. “Sanjay brings a successful track record of leading high-quality global industrial companies and extensive experience driving manufacturing and operational excellence. We are confident that Sanjay’s expertise will help drive additional value for NOV’s shareholders.”
Mr. Chowbey has more than 20 years of experience leading global manufacturing and industrial technology businesses, including in his current role as the President and Chief Executive Officer of Kennametal Inc. (NYSE: KMT), a global manufacturer of advanced tooling, wear-resistant materials, and engineered components. Mr. Chowbey also serves on Kennametal Inc.’s board of directors. Prior to his current role, Mr. Chowbey served as the President of Kennametal Inc.’s Metal Cutting segment.
Before his time at Kennametal Inc., Mr. Chowbey served in various roles of increasing seniority across several prominent global industrial companies, including as the President of Flowserve Corporation’s (NYSE: FLS) Services and Solutions business, as well as roles with Danaher Corporation and Arvin Meritor, Inc. Mr. Chowbey is also a member of the Board of Directors for the National Association of Manufacturers (NAM).
Mr. Chowbey earned a Bachelor of Science in Mechanical Engineering from B.I.T. in Sindri, India, a Master of Science in Mechanical Engineering from the Tennessee Technological University, and a Master of Business Administration from the Kellogg School of Management at Northwestern University.
Mr. Chowbey will serve on NOV Inc.’s Audit Committee upon his appointment to the Board.
With the appointment of Mr. Chowbey, the Board is composed of nine directors, eight of whom are independent members.
About NOV
NOV delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its customers to safely and efficiently produce abundant energy while minimizing environmental impact. NOV powers the industry that powers the world.
Visit www.nov.com for more information.
Source: NOV Inc.
CONTACT:
Amie D’Ambrosio
Director, Investor Relations
(713) 375-3826
[email protected]
