Industry News

Securian Asset Management Inc Buys 553 Shares of National-Oilwell Varco, Inc. (NYSE:NOV)

By September 2, 2019 No Comments

Securian Asset Management Inc lifted its stake in shares of National-Oilwell Varco, Inc. (NYSE:NOV) by 1.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,714 shares of the oil and gas exploration company’s stock after purchasing an additional 553 shares during the period. Securian Asset Management Inc’s holdings in National-Oilwell Varco were worth $883,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale grew its holdings in shares of National-Oilwell Varco by 17.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 41,610 shares of the oil and gas exploration company’s stock valued at $2,029,000 after buying an additional 6,265 shares in the last quarter. Berman Capital Advisors LLC grew its holdings in shares of National-Oilwell Varco by 385.0% during the second quarter. Berman Capital Advisors LLC now owns 1,387 shares of the oil and gas exploration company’s stock valued at $30,000 after buying an additional 1,101 shares in the last quarter. Penserra Capital Management LLC grew its holdings in shares of National-Oilwell Varco by 292.1% during 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 buying an additional 3,949 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in shares of National-Oilwell Varco during the second quarter valued at $4,268,000. Finally, Buckhead Capital Management LLC grew its holdings in shares of National-Oilwell Varco by 13.1% during the first quarter. Buckhead Capital Management LLC now owns 46,240 shares of the oil and gas exploration company’s stock valued at $1,232,000 after buying an additional 5,360 shares in the last quarter. 94.99% of the stock is currently owned by institutional investors.

NOV stock traded up $0.33 during mid-day trading on Friday, hitting $20.43. 3,785,286 shares of the company were exchanged, compared to its average volume of 4,099,001. The company has a current ratio of 3.05, a quick ratio of 1.76 and a debt-to-equity ratio of 0.29. National-Oilwell Varco, Inc. has a 1-year low of $18.05 and a 1-year high of $47.46. The business has a 50 day simple moving average of $20.58 and a 200-day simple moving average of $24.01. The stock has a market capitalization of $7.76 billion, a PE ratio of -255.38 and a beta of 1.30.

National-Oilwell Varco (NYSE:NOV) last issued its earnings results on Monday, July 29th. The oil and gas exploration company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 63.23% and a negative return on equity of 0.64%. Equities research analysts expect that National-Oilwell Varco, Inc. will post -0.02 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, September 12th. National-Oilwell Varco’s dividend payout ratio (DPR) is currently -250.00%.

A number of research analysts have recently weighed in on the company. Societe Generale upgraded National-Oilwell Varco from a “neutral” rating to a “positive” rating and set a $25.00 target price on the stock in a research note on Monday, August 12th. TheStreet downgraded National-Oilwell Varco from a “c-” rating to a “d+” rating in a research note on Friday, May 31st. AltaCorp Capital restated an “underperform” rating on shares of National-Oilwell Varco in a research note on Thursday, June 20th. Johnson Rice upgraded National-Oilwell Varco from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Zacks Investment Research cut National-Oilwell Varco from a “hold” rating to a “strong sell” rating in a research report on Monday, May 20th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $33.79.

In other news, Director Eric L. Mattson sold 4,750 shares of National-Oilwell Varco stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 of the company’s stock, valued at approximately $1,355,853.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 of the company’s stock, valued at $1,356,936.79. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company’s stock.

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.

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

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