Tejara Capital Ltd Acquires 166,692 Shares of NOV Inc. $NOV

Tejara Capital Ltd boosted its holdings in shares of NOV Inc. (NYSE:NOV) by 33.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 670,199 shares of the oil and gas exploration company’s stock after buying an additional 166,692 shares during the quarter. NOV accounts for about 4.6% of Tejara Capital Ltd’s portfolio, making the stock its 4th largest holding. Tejara Capital Ltd owned about 0.18% of NOV worth $8,880,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in NOV. Gateway Investment Advisers LLC increased its holdings in shares of NOV by 1,845.9% during the 3rd quarter. Gateway Investment Advisers LLC now owns 235,081 shares of the oil and gas exploration company’s stock valued at $3,115,000 after purchasing an additional 223,000 shares in the last quarter. Voya Investment Management LLC boosted its holdings in NOV by 239.0% during the third quarter. Voya Investment Management LLC now owns 141,506 shares of the oil and gas exploration company’s stock worth $1,875,000 after buying an additional 99,765 shares in the last quarter. Hsbc Holdings PLC grew its position in NOV by 111.3% during the second quarter. Hsbc Holdings PLC now owns 476,044 shares of the oil and gas exploration company’s stock valued at $6,006,000 after buying an additional 250,705 shares during the period. Vest Financial LLC increased its holdings in NOV by 31.7% in the third quarter. Vest Financial LLC now owns 379,056 shares of the oil and gas exploration company’s stock valued at $5,022,000 after buying an additional 91,272 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its position in shares of NOV by 76.7% in the third quarter. Canandaigua National Bank & Trust Co. now owns 178,816 shares of the oil and gas exploration company’s stock worth $2,369,000 after acquiring an additional 77,605 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Christian S. Kendall acquired 70,000 shares of the stock in a transaction on Friday, November 21st. The shares were bought at an average price of $14.46 per share, with a total value of $1,012,200.00. Following the completion of the purchase, the director owned 85,949 shares of the company’s stock, valued at approximately $1,242,822.54. This represents a 438.90% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.08% of the company’s stock.

NOV Stock Performance

NYSE:NOV opened at $18.34 on Friday. The company has a market cap of $6.69 billion, a P/E ratio of 18.34, a P/E/G ratio of 4.94 and a beta of 0.95. NOV Inc. has a twelve month low of $10.84 and a twelve month high of $19.22. The company’s 50-day moving average price is $16.63 and its 200-day moving average price is $14.54. The company has a current ratio of 2.55, a quick ratio of 1.71 and a debt-to-equity ratio of 0.26.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, December 5th. NOV’s dividend payout ratio (DPR) is currently 30.00%.

Analyst Upgrades and Downgrades

NOV has been the topic of a number of analyst reports. Piper Sandler raised their target price on NOV from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, December 18th. Zacks Research upgraded NOV from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Barclays boosted their price objective on NOV from $13.00 to $15.00 and gave the company an “underweight” rating in a research report on Wednesday, December 17th. Raymond James Financial reaffirmed an “outperform” rating and set a $17.00 target price on shares of NOV in a research note on Tuesday, October 28th. Finally, Citigroup lifted their price target on shares of NOV from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $16.92.

NOV Company Profile

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.