TIAA CREF Investment Management LLC reduced its holdings in shares of National-Oilwell Varco, Inc. (NYSE:NOV) by 6.1% in the fourth quarter, Holdings Channel reports. The fund owned 1,490,015 shares of the oil and gas exploration company’s stock after selling 97,469 shares during the quarter. TIAA CREF Investment Management LLC’s holdings in National-Oilwell Varco were worth $53,670,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Dupont Capital Management Corp bought a new stake in National-Oilwell Varco during the 4th quarter valued at $141,000. Global Trust Asset Management LLC bought a new stake in National-Oilwell Varco during the 4th quarter valued at $160,000. CoreCommodity Management LLC bought a new stake in National-Oilwell Varco during the 4th quarter valued at $162,000. Avestar Capital LLC bought a new stake in National-Oilwell Varco during the 4th quarter valued at $176,000. Finally, Tiedemann Wealth Management LLC raised its position in National-Oilwell Varco by 77.8% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 11,668 shares of the oil and gas exploration company’s stock valued at $194,000 after purchasing an additional 5,107 shares in the last quarter. 93.57% of the stock is owned by hedge funds and other institutional investors.
National-Oilwell Varco stock opened at $38.04 on Thursday. National-Oilwell Varco, Inc. has a one year low of $29.90 and a one year high of $40.90. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.07 and a quick ratio of 1.79.
National-Oilwell Varco (NYSE:NOV) last announced its earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). National-Oilwell Varco had a negative return on equity of 1.10% and a negative net margin of 3.24%. The firm had revenue of $1.97 billion for the quarter. During the same quarter last year, the firm earned ($0.15) earnings per share. research analysts predict that National-Oilwell Varco, Inc. will post 0.26 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, March 15th. This represents a $0.20 annualized dividend and a yield of 0.53%. National-Oilwell Varco’s dividend payout ratio (DPR) is -31.75%.
A number of equities research analysts have weighed in on the company. Zacks Investment Research raised National-Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Tuesday, March 13th. Barclays set a $37.00 price target on National-Oilwell Varco and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. B. Riley set a $42.00 price target on National-Oilwell Varco and gave the stock a “buy” rating in a research report on Thursday, February 8th. Seaport Global Securities reissued a “sell” rating and issued a $30.00 price target on shares of National-Oilwell Varco in a research report on Monday, February 12th. Finally, Jefferies Group set a $35.00 price target on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Thursday, January 4th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $37.55.
In related news, VP Scott K. Duff sold 7,421 shares of the business’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $35.66, for a total transaction of $264,632.86. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.58% of the stock is owned by insiders.
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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.
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