Industry News

Allianz Asset Management GmbH Has $30.51 Million Stock Position in National-Oilwell Varco, Inc. (NYSE:NOV)

By August 31, 2019 No Comments

Allianz Asset Management GmbH reduced its stake in shares of National-Oilwell Varco, Inc. (NYSE:NOV) by 2.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,372,272 shares of the oil and gas exploration company’s stock after selling 37,129 shares during the quarter. Allianz Asset Management GmbH owned 0.36% of National-Oilwell Varco worth $30,506,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TRUE Private Wealth Advisors acquired a new stake in shares of National-Oilwell Varco during the 2nd quarter worth $26,000. Berman Capital Advisors LLC lifted its position in shares of National-Oilwell Varco by 385.0% during the 2nd quarter. Berman Capital Advisors LLC now owns 1,387 shares of the oil and gas exploration company’s stock worth $30,000 after buying an additional 1,101 shares during the last quarter. Investors Research Corp lifted its position in shares of National-Oilwell Varco by 250.0% during the 2nd quarter. Investors Research Corp now owns 1,400 shares of the oil and gas exploration company’s stock worth $31,000 after buying an additional 1,000 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of National-Oilwell Varco by 33.6% during the 1st quarter. Parallel Advisors LLC now owns 2,334 shares of the oil and gas exploration company’s stock worth $62,000 after buying an additional 587 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of National-Oilwell Varco by 66.1% during the 1st quarter. Quadrant Capital Group LLC now owns 4,575 shares of the oil and gas exploration company’s stock worth $118,000 after buying an additional 1,820 shares during the last quarter. 94.99% of the stock is currently owned by institutional investors.

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

National-Oilwell Varco stock opened at $20.10 on Friday. The company has a current ratio of 3.05, a quick ratio of 1.76 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $7.12 billion, a PE ratio of -251.25 and a beta of 1.30. National-Oilwell Varco, Inc. has a 12 month low of $18.05 and a 12 month high of $47.46. The stock has a 50-day moving average price of $20.62 and a two-hundred day moving average price of $24.05.

National-Oilwell Varco (NYSE:NOV) last posted its earnings results on Monday, July 29th. The oil and gas exploration company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.03. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.08 billion. National-Oilwell Varco had a negative return on equity of 0.64% and a negative net margin of 63.23%. As a group, analysts predict that National-Oilwell Varco, Inc. will post -0.02 earnings per share for the current fiscal year.

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 given a dividend of $0.05 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.00%. National-Oilwell Varco’s dividend payout ratio (DPR) is -250.00%.

Several brokerages recently weighed in on NOV. TheStreet downgraded National-Oilwell Varco from a “c-” rating to a “d+” rating in a research report on Friday, May 31st. Bank of America restated an “underperform” rating and set a $20.00 price objective (down from $26.00) on shares of National-Oilwell Varco in a research report on Tuesday, June 25th. Piper Jaffray Companies set a $25.00 price objective on National-Oilwell Varco and gave the stock a “buy” rating in a research report on Monday, July 1st. ValuEngine upgraded National-Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research downgraded National-Oilwell Varco from a “hold” rating to a “strong sell” rating in a research report on Monday, May 20th. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have assigned a buy rating to the stock. National-Oilwell Varco currently has a consensus rating of “Hold” and an average price target of $33.79.

About National-Oilwell Varco

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.

Further Reading: What is the balance sheet?

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

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