Cwm LLC lessened its holdings in National-Oilwell Varco, Inc. (NYSE:NOV) by 17.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,511 shares of the oil and gas exploration company’s stock after selling 20,021 shares during the period. Cwm LLC’s holdings in National-Oilwell Varco were worth $3,476,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of NOV. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of National-Oilwell Varco during the third quarter worth approximately $226,421,000. Harris Associates L P increased its holdings in shares of National-Oilwell Varco by 16.0% during the second 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 buying an additional 2,557,484 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of National-Oilwell Varco by 459.0% during the second quarter. The Manufacturers Life Insurance Company now owns 2,639,603 shares of the oil and gas exploration company’s stock worth $86,948,000 after buying an additional 2,167,397 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of National-Oilwell Varco by 2.5% during the second 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 buying an additional 930,849 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of National-Oilwell Varco by 17.1% during the third quarter. Wells Fargo & Company MN now owns 5,248,794 shares of the oil and gas exploration company’s stock worth $187,541,000 after buying an additional 765,634 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on NOV shares. ValuEngine raised shares of National-Oilwell Varco from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $36.00 price objective on shares of National-Oilwell Varco in a report on Tuesday, September 26th. Citigroup raised their price objective on shares of National-Oilwell Varco from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, October 5th. Jefferies Group set a $34.00 price objective on shares of National-Oilwell Varco and gave the stock a “hold” rating in a report on Thursday, October 5th. Finally, Cowen set a $30.00 price objective on shares of National-Oilwell Varco and gave the stock a “hold” rating in a report on Friday, October 6th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $38.04.
Shares of National-Oilwell Varco, Inc. (NOV) opened at $38.47 on Wednesday. National-Oilwell Varco, Inc. has a 52 week low of $29.90 and a 52 week high of $41.90. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.62 and a current ratio of 2.75. The company has a market cap of $14,620.00, a P/E ratio of -15.51, a PEG ratio of 21.18 and a beta of 0.95.
National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the firm earned ($0.34) earnings per share. National-Oilwell Varco’s revenue was up 11.5% compared to the same quarter last year. analysts anticipate that National-Oilwell Varco, Inc. will post -0.41 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Stockholders of record on Friday, December 8th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, December 7th. This represents a $0.20 annualized dividend and a dividend yield of 0.52%. National-Oilwell Varco’s dividend payout ratio (DPR) is currently -8.06%.
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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.
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