Cubist Systematic Strategies LLC Acquires 14,132 Shares of National Oilwell Varco, Inc. (NYSE:NOV)

Cubist Systematic Strategies LLC boosted its stake in National Oilwell Varco, Inc. (NYSE:NOV) by 160.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 22,952 shares of the oil and gas exploration company’s stock after acquiring an additional 14,132 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in National Oilwell Varco were worth $756,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in NOV. BlackRock Inc. raised its holdings in shares of National Oilwell Varco by 3,189.2% during the 1st quarter. BlackRock Inc. now owns 24,841,300 shares of the oil and gas exploration company’s stock worth $995,890,000 after acquiring an additional 24,086,060 shares during the period. Harris Associates L P raised its holdings in shares of National Oilwell Varco by 16.0% during the 2nd quarter. Harris Associates L P now owns 18,574,753 shares of the oil and gas exploration company’s stock worth $611,852,000 after acquiring an additional 2,557,484 shares during the period. American Century Companies Inc. raised its holdings in shares of National Oilwell Varco by 33.6% during the 2nd quarter. American Century Companies Inc. now owns 5,924,558 shares of the oil and gas exploration company’s stock worth $195,155,000 after acquiring an additional 1,491,359 shares during the period. Morgan Stanley raised its holdings in shares of National Oilwell Varco by 36.3% during the 1st quarter. Morgan Stanley now owns 4,218,392 shares of the oil and gas exploration company’s stock worth $169,114,000 after acquiring an additional 1,124,578 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of National Oilwell Varco by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 38,794,232 shares of the oil and gas exploration company’s stock worth $1,277,882,000 after purchasing an additional 930,849 shares during the last quarter. Institutional investors own 90.38% of the company’s stock.

A number of brokerages recently issued reports on NOV. Jefferies Group LLC set a $34.00 price objective on National Oilwell Varco and gave the stock a “hold” rating in a research report on Thursday, October 5th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $36.00 target price on shares of National Oilwell Varco in a research report on Tuesday, September 26th. Deutsche Bank AG assumed coverage on National Oilwell Varco in a research report on Tuesday, October 10th. They set a “hold” rating and a $39.00 price objective for the company. Citigroup Inc. boosted their price objective on National Oilwell Varco from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, October 5th. Finally, ValuEngine raised National Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. Five analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $38.61.

National Oilwell Varco, Inc. (NOV) traded up 0.06% during trading on Friday, hitting $33.88. The stock had a trading volume of 1,760,071 shares. National Oilwell Varco, Inc. has a 1-year low of $29.90 and a 1-year high of $43.63. The firm’s market cap is $12.88 billion. The firm’s 50 day moving average is $34.55 and its 200 day moving average is $33.53.

National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the business posted ($0.34) earnings per share. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, analysts anticipate that National Oilwell Varco, Inc. will post ($0.41) earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, September 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.59%. National Oilwell Varco’s dividend payout ratio is presently -3.31%.

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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.

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

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