Alliancebernstein L.P. reduced its stake in National-Oilwell Varco, Inc. (NYSE:NOV) by 12.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 0.29% of National-Oilwell Varco worth $40,004,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Oppenheimer Asset Management Inc. increased its stake in National-Oilwell Varco by 14.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 12,580 shares of the oil and gas exploration company’s stock valued at $449,000 after purchasing an additional 1,558 shares in the last quarter. Moors & Cabot Inc. increased its stake in National-Oilwell Varco by 6.7% in the third quarter. Moors & Cabot Inc. now owns 27,646 shares of the oil and gas exploration company’s stock valued at $991,000 after purchasing an additional 1,726 shares in the last quarter. Candriam Luxembourg S.C.A. increased its stake in National-Oilwell Varco by 3.8% in the third quarter. Candriam Luxembourg S.C.A. now owns 49,022 shares of the oil and gas exploration company’s stock valued at $1,752,000 after purchasing an additional 1,788 shares in the last quarter. D.A. Davidson & CO. increased its stake in National-Oilwell Varco by 4.3% in the fourth quarter. D.A. Davidson & CO. now owns 46,509 shares of the oil and gas exploration company’s stock valued at $1,675,000 after purchasing an additional 1,901 shares in the last quarter. Finally, Norinchukin Bank The increased its stake in National-Oilwell Varco by 7.2% in the third quarter. Norinchukin Bank The now owns 28,286 shares of the oil and gas exploration company’s stock valued at $1,011,000 after purchasing an additional 1,912 shares in the last quarter. 93.57% of the stock is owned by hedge funds and other institutional investors.
National-Oilwell Varco stock traded down $0.24 during midday trading on Friday, hitting $36.99. 4,675,203 shares of the stock were exchanged, compared to its average volume of 2,465,046. National-Oilwell Varco, Inc. has a 52-week low of $29.90 and a 52-week high of $39.44. The stock has a market cap of $14,152.75, a PE ratio of -88.07, a price-to-earnings-growth ratio of 24.18 and a beta of 0.80. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.79 and a current ratio of 3.07.
National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). National-Oilwell Varco had a negative net margin of 3.24% and a negative return on equity of 1.10%. The business had revenue of $1.97 billion for the quarter. During the same quarter last year, the firm posted ($0.15) earnings per share. analysts predict that National-Oilwell Varco, Inc. will post 0.26 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 16th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Thursday, March 15th. National-Oilwell Varco’s dividend payout ratio (DPR) is presently -47.62%.
Several equities research analysts have weighed in on NOV shares. Royal Bank of Canada reaffirmed a “hold” rating and issued a $40.00 price target on shares of National-Oilwell Varco in a research note on Friday, January 19th. TheStreet raised shares of National-Oilwell Varco from a “d+” rating to a “c” rating in a research note on Tuesday, February 6th. Cowen set a $33.00 target price on shares of National-Oilwell Varco and gave the stock a “hold” rating in a research report on Thursday, January 11th. Piper Jaffray reissued a “buy” rating and set a $34.00 target price on shares of National-Oilwell Varco in a research report on Thursday, December 21st. Finally, Zacks Investment Research raised shares of National-Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Tuesday, March 13th. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. National-Oilwell Varco has an average rating of “Hold” and a consensus price target of $37.55.
In related news, VP Scott K. Duff sold 7,421 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $35.66, for a total transaction of $264,632.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is currently 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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