Xact Kapitalforvaltning AB Has $1.63 Million Holdings in National-Oilwell Varco, Inc. (NOV)

Xact Kapitalforvaltning AB grew its stake in National-Oilwell Varco, Inc. (NYSE:NOV) by 13.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,237 shares of the oil and gas exploration company’s stock after buying an additional 5,132 shares during the period. Xact Kapitalforvaltning AB’s holdings in National-Oilwell Varco were worth $1,628,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Wells Fargo & Company MN lifted its position in shares of National-Oilwell Varco by 3.1% in the first quarter. Wells Fargo & Company MN now owns 5,354,118 shares of the oil and gas exploration company’s stock worth $197,086,000 after buying an additional 159,249 shares during the last quarter. Lyrical Asset Management LP lifted its position in shares of National-Oilwell Varco by 5.9% in the fourth quarter. Lyrical Asset Management LP now owns 4,687,024 shares of the oil and gas exploration company’s stock worth $168,827,000 after buying an additional 261,103 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of National-Oilwell Varco by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 4,087,478 shares of the oil and gas exploration company’s stock worth $146,919,000 after buying an additional 178,375 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of National-Oilwell Varco by 5.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,805,870 shares of the oil and gas exploration company’s stock worth $66,475,000 after buying an additional 85,888 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of National-Oilwell Varco by 86.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,639,210 shares of the oil and gas exploration company’s stock worth $59,044,000 after buying an additional 760,500 shares during the last quarter. 93.90% of the stock is owned by institutional investors.

In other news, VP Scott K. Duff sold 40,459 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $41.02, for a total value of $1,659,628.18. Following the sale, the vice president now directly owns 72,697 shares in the company, valued at approximately $2,982,030.94. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Craig L. Weinstock sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $44.03, for a total value of $220,150.00. Following the completion of the sale, the vice president now owns 46,372 shares in the company, valued at $2,041,759.16. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

A number of analysts have weighed in on NOV shares. ValuEngine raised National-Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Friday, March 23rd. Societe Generale cut National-Oilwell Varco from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $38.32 to $41.00 in a research report on Thursday, April 19th. B. Riley cut National-Oilwell Varco from a “buy” rating to a “hold” rating and cut their price objective for the stock from $42.00 to $40.00 in a research report on Tuesday, April 17th. SunTrust Banks set a $31.00 price objective on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Monday, April 16th. Finally, Wells Fargo & Co boosted their price objective on National-Oilwell Varco from $37.00 to $47.00 and gave the stock a “market perform” rating in a research report on Thursday, May 24th. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $37.41.

Shares of National-Oilwell Varco opened at $42.79 on Thursday, according to MarketBeat. National-Oilwell Varco, Inc. has a 12-month low of $29.90 and a 12-month high of $45.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.89 and a current ratio of 3.37. The stock has a market cap of $16.01 billion, a P/E ratio of -101.88, a PEG ratio of 64.78 and a beta of 0.81.

National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings results on Thursday, April 26th. The oil and gas exploration company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.13). National-Oilwell Varco had a negative net margin of 2.49% and a negative return on equity of 1.15%. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.81 billion. analysts anticipate that National-Oilwell Varco, Inc. will post 0.11 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.20 annualized dividend and a yield of 0.47%. National-Oilwell Varco’s dividend payout ratio is -47.62%.

About National-Oilwell Varco

National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

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

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