Nomura Asset Management Co. Ltd. cut its position in National Oilwell Varco, Inc. (NYSE:NOV) by 26.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 171,210 shares of the oil and gas exploration company’s stock after selling 60,461 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in National Oilwell Varco were worth $6,117,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of NOV. IHT Wealth Management LLC lifted its stake in National Oilwell Varco by 1,923.1% in the second quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock valued at $112,000 after acquiring an additional 500 shares during the last quarter. Tiedemann Wealth Management LLC increased its holdings in National Oilwell Varco by 77.8% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 11,668 shares of the oil and gas exploration company’s stock valued at $194,000 after buying an additional 5,107 shares during the period. IBM Retirement Fund bought a new position in National Oilwell Varco in the 3rd quarter valued at about $200,000. Wrapmanager Inc. bought a new position in National Oilwell Varco in the 3rd quarter valued at about $202,000. Finally, Smith Salley & Associates bought a new position in National Oilwell Varco in the 3rd quarter valued at about $214,000. Institutional investors own 92.56% of the company’s stock.
National Oilwell Varco, Inc. (NYSE:NOV) traded down $0.26 during trading on Friday, hitting $32.40. 2,722,000 shares of the company were exchanged, compared to its average volume of 3,291,865. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.62 and a current ratio of 2.75. National Oilwell Varco, Inc. has a 52 week low of $29.90 and a 52 week high of $43.63.
National Oilwell Varco (NYSE:NOV) last released its earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.01. National Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company earned ($0.34) EPS. National Oilwell Varco’s quarterly revenue was up 11.5% compared to the same quarter last year. equities research analysts expect that National Oilwell Varco, Inc. will post -0.41 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.62%. National Oilwell Varco’s payout ratio is presently -8.03%.
Several equities analysts have commented on the stock. Jefferies Group set a $34.00 target price on shares of National Oilwell Varco and gave the company a “hold” rating in a report on Thursday, October 5th. Piper Jaffray Companies reissued a “buy” rating and issued a $36.00 target price on shares of National Oilwell Varco in a report on Tuesday, September 26th. Deutsche Bank assumed coverage on shares of National Oilwell Varco in a report on Tuesday, October 10th. They issued a “hold” rating and a $39.00 target price on the stock. Citigroup raised their target price on shares of National Oilwell Varco from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, October 5th. Finally, ValuEngine raised shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. National Oilwell Varco has an average rating of “Hold” and a consensus target price of $38.00.
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National Oilwell Varco Company Profile
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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