Alliancebernstein L.P. reduced its holdings in shares of National-Oilwell Varco, Inc. (NYSE:NOV) by 12.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,110,611 shares of the oil and gas exploration company’s stock after selling 154,005 shares during the period. Alliancebernstein L.P. owned about 0.29% of National-Oilwell Varco worth $40,004,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Chevy Chase Trust Holdings Inc. grew its position in National-Oilwell Varco by 1.2% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 481,830 shares of the oil and gas exploration company’s stock valued at $17,216,000 after acquiring an additional 5,641 shares during the last quarter. California Public Employees Retirement System grew its position in National-Oilwell Varco by 4.7% during the third quarter. California Public Employees Retirement System now owns 1,211,321 shares of the oil and gas exploration company’s stock valued at $43,280,000 after acquiring an additional 54,039 shares during the last quarter. Ashburton Jersey Ltd bought a new position in National-Oilwell Varco during the third quarter valued at approximately $654,000. Wells Fargo & Company MN grew its position in 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 valued at $187,541,000 after acquiring an additional 765,634 shares during the last quarter. Finally, Magnetar Financial LLC grew its position in National-Oilwell Varco by 53.5% during the third quarter. Magnetar Financial LLC now owns 21,896 shares of the oil and gas exploration company’s stock valued at $782,000 after acquiring an additional 7,633 shares during the last quarter. Institutional investors and hedge funds own 93.57% of the company’s stock.
Shares of National-Oilwell Varco, Inc. (NYSE NOV) opened at $36.26 on Friday. National-Oilwell Varco, Inc. has a 52 week low of $29.90 and a 52 week high of $40.90. The company has a market capitalization of $14,183.16, a price-to-earnings ratio of -57.56, a P/E/G ratio of 23.86 and a beta of 0.88. The company has a quick ratio of 1.79, a current ratio of 3.07 and a debt-to-equity ratio of 0.19.
National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). National-Oilwell Varco had a negative return on equity of 1.10% and a negative net margin of 3.24%. The company had revenue of $1.97 billion during the quarter. During the same period in the previous year, the business earned ($0.15) EPS. analysts expect that National-Oilwell Varco, Inc. will post 0.26 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Thursday, March 15th. National-Oilwell Varco’s payout ratio is -31.75%.
A number of brokerages have commented on NOV. B. Riley set a $42.00 price target on shares of National-Oilwell Varco and gave the company a “buy” rating in a research report on Thursday, February 8th. Seaport Global Securities reissued a “sell” rating and set a $30.00 price objective on shares of National-Oilwell Varco in a research note on Monday, February 12th. ValuEngine raised National-Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. SunTrust Banks raised National-Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Wednesday, November 29th. Finally, Barclays set a $37.00 price objective on National-Oilwell Varco and gave the company an “equal weight” rating in a research note on Thursday, February 8th. Five equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. National-Oilwell Varco has an average rating of “Hold” and an average price target of $37.55.
In related news, VP Scott K. Duff sold 7,421 shares of the firm’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $35.66, for a total value of $264,632.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.17% of the company’s stock.
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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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