Industry News

Advisor Group Inc. Sells 1,422 Shares of National-Oilwell Varco, Inc. (NYSE:NOV)

By September 8, 2019 No Comments

Advisor Group Inc. decreased its position in National-Oilwell Varco, Inc. (NYSE:NOV) by 7.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,781 shares of the oil and gas exploration company’s stock after selling 1,422 shares during the quarter. Advisor Group Inc.’s holdings in National-Oilwell Varco were worth $396,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pzena Investment Management LLC grew its holdings in National-Oilwell Varco by 31.3% during the first quarter. Pzena Investment Management LLC now owns 16,608,676 shares of the oil and gas exploration company’s stock worth $442,455,000 after purchasing an additional 3,957,104 shares during the period. Marathon Asset Management LLP grew its holdings in National-Oilwell Varco by 94.5% during the second quarter. Marathon Asset Management LLP now owns 2,151,888 shares of the oil and gas exploration company’s stock worth $47,834,000 after purchasing an additional 1,045,513 shares during the period. Ruffer LLP grew its holdings in National-Oilwell Varco by 16.0% during the first quarter. Ruffer LLP now owns 7,019,547 shares of the oil and gas exploration company’s stock worth $187,035,000 after purchasing an additional 970,362 shares during the period. Clearbridge Investments LLC grew its holdings in National-Oilwell Varco by 9.3% during the first quarter. Clearbridge Investments LLC now owns 11,227,988 shares of the oil and gas exploration company’s stock worth $299,114,000 after purchasing an additional 958,131 shares during the period. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of National-Oilwell Varco by 20.6% during the first quarter. Great West Life Assurance Co. Can now owns 2,514,402 shares of the oil and gas exploration company’s stock worth $66,786,000 after acquiring an additional 430,272 shares during the period. Institutional investors own 94.99% of the company’s stock.

NOV traded up $0.17 during trading on Friday, reaching $22.17. 4,334,085 shares of the stock traded hands, compared to its average volume of 3,771,943. The company has a quick ratio of 1.76, a current ratio of 3.05 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $8.49 billion, a PE ratio of -277.13 and a beta of 1.31. The stock’s 50-day moving average is $20.50 and its 200 day moving average is $23.71. National-Oilwell Varco, Inc. has a 12 month low of $18.05 and a 12 month high of $46.64.

National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings data on Monday, July 29th. The oil and gas exploration company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.03. National-Oilwell Varco had a negative net margin of 63.23% and a negative return on equity of 0.64%. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.08 billion.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.90%. National-Oilwell Varco’s dividend payout ratio is currently -250.00%.

A number of brokerages have recently issued reports on NOV. Bank of America restated an “underperform” rating and set a $20.00 price objective (down previously from $26.00) on shares of National-Oilwell Varco in a report on Tuesday, June 25th. Susquehanna Bancshares upgraded National-Oilwell Varco from a “neutral” rating to a “positive” rating and set a $25.00 price objective for the company in a report on Monday, August 12th. Seaport Global Securities upgraded National-Oilwell Varco from a “sell” rating to a “neutral” rating in a report on Wednesday, July 31st. Johnson Rice upgraded National-Oilwell Varco from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. Finally, Cowen reiterated a “market perform” rating and issued a $27.00 price target (up from $25.00) on shares of National-Oilwell Varco in a research report on Wednesday, July 31st. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $33.13.

In related news, Director Eric L. Mattson sold 4,750 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $21.02, for a total value of $99,845.00. Following the sale, the director now owns 64,503 shares in the company, valued at approximately $1,355,853.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph W. Rovig sold 22,640 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $18.37, for a total transaction of $415,896.80. Following the completion of the sale, the insider now owns 73,867 shares in the company, valued at approximately $1,356,936.79. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by corporate insiders.

National-Oilwell Varco Profile

National Oilwell Varco, Inc designs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. It operates in three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. The Wellbore Technologies segment offers various equipment and technologies used to perform drilling operations.

See Also: Ex-Dividend

Institutional Ownership by Quarter for National-Oilwell Varco (NYSE:NOV)

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