National Oilwell Varco, Inc. (NYSE:NOV) Holdings Boosted by Royal Bank of Canada

Royal Bank of Canada grew its stake in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 26.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 291,575 shares of the oil and gas exploration company’s stock after purchasing an additional 61,029 shares during the quarter. Royal Bank of Canada owned about 0.08% of National Oilwell Varco worth $9,605,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NOV. Vanguard Group Inc. boosted its stake in National Oilwell Varco by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 38,794,232 shares of the oil and gas exploration company’s stock valued at $1,277,882,000 after purchasing an additional 930,849 shares during the period. First Eagle Investment Management LLC boosted its stake in National Oilwell Varco by 1.7% in the 2nd quarter. First Eagle Investment Management LLC now owns 26,505,005 shares of the oil and gas exploration company’s stock valued at $873,075,000 after purchasing an additional 452,148 shares during the period. BlackRock Inc. lifted its position in shares of National Oilwell Varco by 1.4% during the 2nd quarter. BlackRock Inc. now owns 25,195,874 shares of the oil and gas exploration company’s stock valued at $829,954,000 after acquiring an additional 354,574 shares during the period. Harris Associates L P lifted its position 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 valued at $611,852,000 after acquiring an additional 2,557,484 shares during the period. Finally, Clearbridge Investments LLC lifted its position in shares of National Oilwell Varco by 2.8% during the 1st quarter. Clearbridge Investments LLC now owns 13,209,045 shares of the oil and gas exploration company’s stock valued at $529,551,000 after acquiring an additional 359,809 shares during the period. 90.38% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently weighed in on NOV. ValuEngine upgraded National Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of National Oilwell Varco in a report on Friday, September 1st. Wells Fargo & Company reaffirmed a “market perform” rating on shares of National Oilwell Varco in a report on Monday, July 10th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $34.00 target price (down previously from $38.00) on shares of National Oilwell Varco in a report on Monday, July 31st. Finally, Cowen and Company reissued a “hold” rating and issued a $37.00 price target on shares of National Oilwell Varco in a research note on Tuesday, July 11th. Five research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $38.61.

Shares of National Oilwell Varco, Inc. (NYSE:NOV) opened at 32.50 on Friday. National Oilwell Varco, Inc. has a 12 month low of $29.90 and a 12 month high of $43.63. The company’s 50 day moving average price is $34.55 and its 200-day moving average price is $33.53. The stock’s market capitalization is $12.35 billion.

National Oilwell Varco (NYSE:NOV) last posted its earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.34) earnings per share. Equities analysts predict that National Oilwell Varco, Inc. will post ($0.41) earnings per share 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 issued a $0.05 dividend. The ex-dividend date 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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National Oilwell Varco 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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