Synovus Financial Corp Buys Shares of 11,553 National Oilwell Varco, Inc. (NOV)

Synovus Financial Corp bought a new stake in National Oilwell Varco, Inc. (NYSE:NOV) during the third quarter, according to its most recent filing with the SEC. The firm bought 11,553 shares of the oil and gas exploration company’s stock, valued at approximately $412,000.

A number of other large investors have also recently bought and sold shares of the stock. Fernwood Investment Management LLC grew its stake in National Oilwell Varco by 0.6% in the 2nd quarter. Fernwood Investment Management LLC now owns 15,765 shares of the oil and gas exploration company’s stock valued at $519,000 after buying an additional 100 shares during the last quarter. CIBC Asset Management Inc grew its stake in National Oilwell Varco by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 36,365 shares of the oil and gas exploration company’s stock valued at $1,198,000 after buying an additional 113 shares during the last quarter. Cadence Capital Management LLC grew its stake in National Oilwell Varco by 1.0% in the 2nd quarter. Cadence Capital Management LLC now owns 14,143 shares of the oil and gas exploration company’s stock valued at $466,000 after buying an additional 143 shares during the last quarter. Peddock Capital Advisors LLC grew its stake in National Oilwell Varco by 1.7% in the 2nd quarter. Peddock Capital Advisors LLC now owns 9,188 shares of the oil and gas exploration company’s stock valued at $303,000 after buying an additional 150 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in National Oilwell Varco by 0.8% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,025 shares of the oil and gas exploration company’s stock valued at $1,055,000 after buying an additional 246 shares during the last quarter. Institutional investors and hedge funds own 92.56% of the company’s stock.

Several analysts have issued reports on the stock. Jefferies Group set a $34.00 price target on shares of National Oilwell Varco and gave the stock a “hold” rating in a research report on Thursday, October 5th. Piper Jaffray Companies restated a “buy” rating and issued a $36.00 price target on shares of National Oilwell Varco in a research report on Tuesday, September 26th. Deutsche Bank assumed coverage on shares of National Oilwell Varco in a research report on Tuesday, October 10th. They issued a “hold” rating and a $39.00 price target on the stock. Citigroup raised their price target on shares of 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 upgraded shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. Five 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 assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $38.00.

National Oilwell Varco, Inc. (NYSE:NOV) traded up $0.22 during trading hours on Friday, hitting $32.62. 2,847,364 shares of the stock were exchanged, compared to its average volume of 2,745,340. National Oilwell Varco, Inc. has a one year low of $29.90 and a one year high of $43.63. The company has a quick ratio of 1.62, a current ratio of 2.75 and a debt-to-equity ratio of 0.19.

National Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, beating the 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 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 firm posted ($0.34) EPS. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. equities research analysts expect that National Oilwell Varco, Inc. will post -0.41 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Thursday, December 7th. National Oilwell Varco’s dividend payout ratio is currently -8.03%.

TRADEMARK VIOLATION WARNING: This report was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this report on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this report can be viewed at https://www.dispatchtribunal.com/2017/12/09/synovus-financial-corp-buys-shares-of-11553-national-oilwell-varco-inc-nov.html.

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.

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

Receive News & Ratings for National Oilwell Varco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Oilwell Varco Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply