Nomura Holdings Inc. raised its holdings in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 213.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,446 shares of the oil and gas exploration company’s stock after purchasing an additional 21,399 shares during the quarter. Nomura Holdings Inc.’s holdings in National Oilwell Varco were worth $1,037,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of NOV. IHT Wealth Management LLC grew its stake in National Oilwell Varco by 1,923.1% during the 2nd quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock valued at $112,000 after purchasing an additional 500 shares in the last quarter. FNY Partners Fund LP acquired a new stake in National Oilwell Varco during the 1st quarter valued at approximately $120,000. Exane Derivatives grew its stake in National Oilwell Varco by 113.8% during the 2nd quarter. Exane Derivatives now owns 3,985 shares of the oil and gas exploration company’s stock valued at $131,000 after purchasing an additional 2,121 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new stake in National Oilwell Varco during the 2nd quarter valued at approximately $194,000. Finally, Lakeview Capital Partners LLC grew its stake in National Oilwell Varco by 2.6% during the 2nd quarter. Lakeview Capital Partners LLC now owns 6,194 shares of the oil and gas exploration company’s stock valued at $204,000 after purchasing an additional 155 shares in the last quarter. Hedge funds and other institutional investors own 90.38% of the company’s stock.
Shares of National Oilwell Varco, Inc. (NYSE NOV) traded down 0.30% during mid-day trading on Friday, reaching $33.76. The company’s stock had a trading volume of 1,108,271 shares. The firm’s market capitalization is $12.83 billion. The company has a 50 day moving average of $34.55 and a 200-day moving average of $33.53. National Oilwell Varco, Inc. has a 12 month low of $29.90 and a 12 month high of $43.63.
National Oilwell Varco (NYSE:NOV) last announced its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.01. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. National Oilwell Varco had a negative return on equity of 2.12% and a negative net margin of 33.24%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company earned ($0.34) EPS. Equities research analysts forecast that National Oilwell Varco, Inc. will post ($0.41) EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.59%. National Oilwell Varco’s payout ratio is -3.31%.
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A number of equities research analysts have weighed in on the company. R. F. Lafferty restated a “hold” rating and set a $33.00 price objective (down previously from $38.00) on shares of National Oilwell Varco in a research note on Tuesday, August 1st. Zacks Investment Research lowered National Oilwell Varco from a “buy” rating to a “hold” rating in a research report on Monday. Seaport Global Securities reiterated a “sell” rating on shares of National Oilwell Varco in a research report on Friday, July 28th. SunTrust Banks, Inc. lowered National Oilwell Varco from a “hold” rating to a “sell” rating and lifted their target price for the stock from $29.00 to $50.00 in a research report on Monday, August 7th. They noted that the move was a valuation call. Finally, BidaskClub lowered National Oilwell Varco from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $38.61.
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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