DNB Asset Management AS lowered its stake in National-Oilwell Varco, Inc. (NYSE:NOV) by 8.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,792 shares of the oil and gas exploration company’s stock after selling 3,763 shares during the period. DNB Asset Management AS’s holdings in National-Oilwell Varco were worth $907,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Truvestments Capital LLC purchased a new position in shares of National-Oilwell Varco in the 1st quarter worth $26,000. Moody National Bank Trust Division raised its position in National-Oilwell Varco by 125.0% in the first quarter. Moody National Bank Trust Division now owns 1,233 shares of the oil and gas exploration company’s stock valued at $33,000 after purchasing an additional 685 shares during the period. Parallel Advisors LLC raised its position in National-Oilwell Varco by 33.6% in the first quarter. Parallel Advisors LLC now owns 2,334 shares of the oil and gas exploration company’s stock valued at $62,000 after purchasing an additional 587 shares during the period. Quadrant Capital Group LLC raised its position in National-Oilwell Varco by 66.1% in the first quarter. Quadrant Capital Group LLC now owns 4,575 shares of the oil and gas exploration company’s stock valued at $118,000 after purchasing an additional 1,820 shares during the period. Finally, Penserra Capital Management LLC raised its position in National-Oilwell Varco by 292.1% in the first quarter. Penserra Capital Management LLC now owns 5,301 shares of the oil and gas exploration company’s stock valued at $140,000 after purchasing an additional 3,949 shares during the period. Institutional investors and hedge funds own 94.99% of the company’s stock.
Several research analysts have commented on NOV shares. Seaport Global Securities raised National-Oilwell Varco from a “sell” rating to a “neutral” rating in a research report on Wednesday, July 31st. Griffin Securities reissued a “hold” rating on shares of National-Oilwell Varco in a research note on Thursday, August 1st. Zacks Investment Research downgraded National-Oilwell Varco from a “hold” rating to a “strong sell” rating in a research note on Monday, May 20th. AltaCorp Capital reissued an “underperform” rating on shares of National-Oilwell Varco in a research note on Thursday, June 20th. Finally, Piper Jaffray Companies set a $25.00 target price on National-Oilwell Varco and gave the stock a “buy” rating in a research note on Monday, July 1st. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the stock. National-Oilwell Varco presently has an average rating of “Hold” and a consensus target price of $34.24.In other National-Oilwell Varco news, insider Joseph W. Rovig sold 22,640 shares of National-Oilwell Varco stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $18.37, for a total transaction of $415,896.80. Following the transaction, the insider now directly owns 73,867 shares in the company, valued at approximately $1,356,936.79. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eric L. Mattson sold 4,750 shares of National-Oilwell Varco stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $21.02, for a total transaction of $99,845.00. Following the transaction, the director now owns 64,503 shares in the company, valued at $1,355,853.06. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.
NOV stock traded down $0.43 during midday trading on Tuesday, reaching $18.88. The company had a trading volume of 3,099,872 shares, compared to its average volume of 4,245,313. The firm has a market capitalization of $7.19 billion, a PE ratio of -236.00 and a beta of 1.30. National-Oilwell Varco, Inc. has a fifty-two week low of $18.05 and a fifty-two week high of $47.46. The stock has a 50 day moving average price of $21.20 and a 200 day moving average price of $24.57. The company has a quick ratio of 1.76, a current ratio of 3.05 and a debt-to-equity ratio of 0.29.
National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Monday, July 29th. The oil and gas exploration company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.03. The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.08 billion. National-Oilwell Varco had a negative return on equity of 0.64% and a negative net margin of 63.23%. Research analysts predict that National-Oilwell Varco, Inc. will post -0.02 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, September 12th. National-Oilwell Varco’s payout ratio is -250.00%.
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.
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