State of Wisconsin Investment Board boosted its position in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 26.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 216,693 shares of the oil and gas exploration company’s stock after buying an additional 45,555 shares during the period. State of Wisconsin Investment Board owned 0.06% of National Oilwell Varco worth $8,687,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in NOV. Dodge & Cox purchased a new stake in National Oilwell Varco during the fourth quarter worth $1,171,647,000. Norges Bank bought a new position in shares of National Oilwell Varco during the fourth quarter valued at $132,512,000. Parnassus Investments CA raised its position in shares of National Oilwell Varco by 20.2% in the third quarter. Parnassus Investments CA now owns 14,062,198 shares of the oil and gas exploration company’s stock valued at $516,645,000 after buying an additional 2,366,764 shares in the last quarter. Bank of Montreal Can raised its position in shares of National Oilwell Varco by 146.8% in the first quarter. Bank of Montreal Can now owns 3,274,041 shares of the oil and gas exploration company’s stock valued at $131,257,000 after buying an additional 1,947,233 shares in the last quarter. Finally, Harris Associates L P increased its position in National Oilwell Varco by 7.2% in the first quarter. Harris Associates L P now owns 16,017,269 shares of the oil and gas exploration company’s stock worth $642,133,000 after buying an additional 1,080,775 shares during the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.
Shares of National Oilwell Varco, Inc. (NOV) opened at 33.66 on Friday. The stock has a 50 day moving average of $33.66 and a 200 day moving average of $37.36. The company’s market cap is $12.79 billion. National Oilwell Varco, Inc. has a 12-month low of $29.79 and a 12-month high of $43.63.
National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Wednesday, April 26th. The oil and gas exploration company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.67 billion. National Oilwell Varco had a negative return on equity of 2.44% and a negative net margin of 35.50%. The firm’s quarterly revenue was down 20.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.06) EPS. On average, equities analysts expect that National Oilwell Varco, Inc. will post ($0.40) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be issued a dividend of $0.05 per share. The ex-dividend date is Wednesday, June 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.59%. National Oilwell Varco’s dividend payout ratio (DPR) is -3.12%.
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Several brokerages recently weighed in on NOV. Vetr downgraded shares of National Oilwell Varco from a “buy” rating to a “hold” rating and set a $41.60 price objective on the stock. in a research report on Monday, February 27th. Zacks Investment Research cut shares of National Oilwell Varco from a “buy” rating to a “hold” rating in a research note on Monday, February 20th. Jefferies Group LLC set a $38.00 price objective on shares of National Oilwell Varco and gave the stock a “hold” rating in a research note on Thursday, April 27th. Argus raised shares of National Oilwell Varco from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Friday, March 3rd. Finally, ValuEngine downgraded shares of National Oilwell Varco from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $38.83.
About National Oilwell Varco
National Oilwell Varco, Inc is an oilfield equipment manufacturer and technology provider. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies and Completion & Production Solutions. The Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore.
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