Securian Asset Management Inc boosted its stake in shares of National-Oilwell Varco, Inc. (NYSE:NOV) by 1.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,714 shares of the oil and gas exploration company’s stock after purchasing an additional 553 shares during the quarter. Securian Asset Management Inc’s holdings in National-Oilwell Varco were worth $883,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. grew its stake in National-Oilwell Varco by 17.0% in the second quarter. Pinnacle Associates Ltd. now owns 18,971 shares of the oil and gas exploration company’s stock valued at $422,000 after purchasing an additional 2,761 shares in the last quarter. Pzena Investment Management LLC grew its stake in National-Oilwell Varco by 45.9% in the second quarter. Pzena Investment Management LLC now owns 24,225,557 shares of the oil and gas exploration company’s stock valued at $538,534,000 after purchasing an additional 7,616,881 shares in the last quarter. Comerica Bank grew its stake in National-Oilwell Varco by 4.1% in the second quarter. Comerica Bank now owns 80,195 shares of the oil and gas exploration company’s stock valued at $1,667,000 after purchasing an additional 3,142 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in National-Oilwell Varco by 21.6% in the second quarter. Envestnet Asset Management Inc. now owns 135,001 shares of the oil and gas exploration company’s stock valued at $3,001,000 after purchasing an additional 24,003 shares in the last quarter. Finally, TRUE Private Wealth Advisors purchased a new position in National-Oilwell Varco in the second quarter valued at about $26,000. Institutional investors and hedge funds own 94.99% of the company’s stock.
In other National-Oilwell Varco news, insider Joseph W. Rovig sold 22,640 shares of the firm’s 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 completion of the transaction, the insider now directly owns 73,867 shares of the company’s stock, valued at approximately $1,356,936.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the director now directly owns 64,503 shares of the company’s stock, valued at $1,355,853.06. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company’s stock.A number of analysts have weighed in on the company. UBS Group set a $25.00 price target on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Johnson Rice raised National-Oilwell Varco from a “hold” rating to a “buy” rating in a research report on Thursday. Raymond James boosted their price target on National-Oilwell Varco from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. AltaCorp Capital reaffirmed an “underperform” rating on shares of National-Oilwell Varco in a research report on Thursday, June 20th. Finally, Cowen reaffirmed a “market perform” rating and issued a $27.00 price target (up previously from $25.00) on shares of National-Oilwell Varco in a research report on Wednesday, July 31st. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $33.79.
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%.
National-Oilwell Varco Company 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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