First Allied Advisory Services Inc. raised its stake in National-Oilwell Varco, Inc. (NYSE:NOV) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,615 shares of the oil and gas exploration company’s stock after purchasing an additional 2,391 shares during the quarter. First Allied Advisory Services Inc.’s holdings in National-Oilwell Varco were worth $1,390,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of NOV. First Eagle Investment Management LLC lifted its holdings in National-Oilwell Varco by 2.1% during the 3rd quarter. First Eagle Investment Management LLC now owns 27,068,594 shares of the oil and gas exploration company’s stock worth $967,161,000 after buying an additional 563,589 shares during the period. Parnassus Investments CA lifted its stake in shares of National-Oilwell Varco by 10.1% in the 4th quarter. Parnassus Investments CA now owns 6,929,938 shares of the oil and gas exploration company’s stock valued at $249,616,000 after purchasing an additional 637,925 shares during the period. American Century Companies Inc. raised its stake in National-Oilwell Varco by 4.2% during the 4th quarter. American Century Companies Inc. now owns 6,390,274 shares of the oil and gas exploration company’s stock worth $230,178,000 after buying an additional 255,563 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new position in National-Oilwell Varco during the 3rd quarter worth approximately $226,421,000. Finally, Wells Fargo & Company MN raised its stake in National-Oilwell Varco by 17.1% during the 3rd quarter. Wells Fargo & Company MN now owns 5,248,794 shares of the oil and gas exploration company’s stock worth $187,541,000 after buying an additional 765,634 shares during the period. Hedge funds and other institutional investors own 93.57% of the company’s stock.
National-Oilwell Varco, Inc. (NYSE NOV) traded up $0.07 on Wednesday, hitting $37.39. 2,650,000 shares of the company were exchanged, compared to its average volume of 3,630,000. The stock has a market cap of $14,210.00, a PE ratio of -29.44, a price-to-earnings-growth ratio of 24.04 and a beta of 0.89. National-Oilwell Varco, Inc. has a 52 week low of $29.90 and a 52 week high of $40.90. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.79 and a current ratio of 3.07.
National-Oilwell Varco (NYSE:NOV) last announced its earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). The firm had revenue of $1.97 billion for the quarter. National-Oilwell Varco had a negative net margin of 3.24% and a negative return on equity of 1.10%. During the same quarter in the prior year, the company posted ($0.15) earnings per share. equities research analysts anticipate that National-Oilwell Varco, Inc. will post 0.26 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $0.20 annualized dividend and a yield of 0.53%. National-Oilwell Varco’s payout ratio is -15.75%.
A number of brokerages have commented on NOV. Cowen set a $33.00 price objective on National-Oilwell Varco and gave the stock a “hold” rating in a report on Thursday, January 11th. TheStreet upgraded National-Oilwell Varco from a “d+” rating to a “c” rating in a research report on Tuesday, February 6th. Zacks Investment Research upgraded National-Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Tuesday. Seaport Global Securities reiterated a “sell” rating and issued a $30.00 price objective on shares of National-Oilwell Varco in a research report on Monday, February 12th. Finally, Jefferies Group set a $35.00 target price on National-Oilwell Varco and gave the company a “hold” rating in a research note on Thursday, January 4th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $37.55.
In related news, VP Scott K. Duff sold 7,421 shares of the company’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $35.66, for a total transaction of $264,632.86. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.58% of the company’s stock.
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National-Oilwell Varco Profile
National Oilwell Varco, Inc is an oilfield equipment manufacturer and technology provider. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies and Completion & Production Solutions. The Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore.
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