NOV Inc. (NYSE:NOV) Stock Position Boosted by Tejara Capital Ltd

Tejara Capital Ltd grew its stake in shares of NOV Inc. (NYSE:NOV) by 0.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 576,589 shares of the oil and gas exploration company’s stock after acquiring an additional 4,557 shares during the quarter. NOV comprises approximately 3.4% of Tejara Capital Ltd’s investment portfolio, making the stock its 4th largest holding. Tejara Capital Ltd’s holdings in NOV were worth $8,776,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NOV. Nuveen LLC acquired a new position in shares of NOV during the first quarter valued at about $33,742,000. Dimensional Fund Advisors LP increased its holdings in shares of NOV by 13.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 16,793,128 shares of the oil and gas exploration company’s stock valued at $245,178,000 after acquiring an additional 1,934,243 shares in the last quarter. AQR Capital Management LLC boosted its position in NOV by 85.9% in the fourth quarter. AQR Capital Management LLC now owns 3,784,096 shares of the oil and gas exploration company’s stock valued at $55,248,000 after buying an additional 1,748,816 shares during the last quarter. Ameriprise Financial Inc. boosted its position in NOV by 40.7% in the fourth quarter. Ameriprise Financial Inc. now owns 5,718,408 shares of the oil and gas exploration company’s stock valued at $83,489,000 after buying an additional 1,652,917 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its position in NOV by 187.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,071,760 shares of the oil and gas exploration company’s stock valued at $30,248,000 after buying an additional 1,351,441 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Morgan Stanley dropped their target price on NOV from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Evercore ISI reduced their target price on shares of NOV from $15.00 to $14.00 and set an “in-line” rating for the company in a report on Wednesday, July 30th. Royal Bank Of Canada reduced their target price on shares of NOV from $19.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, July 30th. Barclays reduced their target price on shares of NOV from $13.00 to $11.00 and set an “underweight” rating for the company in a report on Wednesday, April 30th. Finally, Stifel Nicolaus reduced their target price on shares of NOV from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, July 30th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.56.

NOV Trading Up 0.0%

Shares of NYSE:NOV opened at $12.35 on Friday. NOV Inc. has a 1 year low of $10.84 and a 1 year high of $18.40. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 3.39 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.58 and a quick ratio of 1.72. The business’s 50 day moving average price is $13.02 and its 200-day moving average price is $13.40.

NOV (NYSE:NOV) last announced its earnings results on Monday, July 28th. The oil and gas exploration company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). NOV had a net margin of 5.36% and a return on equity of 7.25%. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the business earned $0.57 EPS. The company’s quarterly revenue was down 1.3% on a year-over-year basis. On average, equities research analysts forecast that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.4%. NOV’s dividend payout ratio (DPR) is 24.59%.

About NOV

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.