Amundi Pioneer Asset Management Inc. increased its position in shares of National-Oilwell Varco, Inc. (NYSE:NOV) by 13.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 152,542 shares of the oil and gas exploration company’s stock after acquiring an additional 17,532 shares during the quarter. Amundi Pioneer Asset Management Inc.’s holdings in National-Oilwell Varco were worth $5,616,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. American International Group Inc. boosted its stake in National-Oilwell Varco by 7.3% during the 4th quarter. American International Group Inc. now owns 190,915 shares of the oil and gas exploration company’s stock worth $6,877,000 after acquiring an additional 12,943 shares during the last quarter. Avestar Capital LLC acquired a new stake in National-Oilwell Varco during the 4th quarter worth approximately $176,000. Baird Financial Group Inc. acquired a new stake in National-Oilwell Varco during the 4th quarter worth approximately $297,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in National-Oilwell Varco by 10.0% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 118,500 shares of the oil and gas exploration company’s stock worth $4,268,000 after buying an additional 10,800 shares during the period. Finally, Pegasus Partners Ltd. acquired a new stake in National-Oilwell Varco during the 1st quarter worth approximately $4,393,000. 93.90% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Scott K. Duff sold 40,459 shares of the firm’s stock in a transaction on Monday, May 14th. The shares were sold at an average price of $41.02, for a total value of $1,659,628.18. Following the completion of the transaction, the vice president now directly owns 72,697 shares of the company’s stock, valued at $2,982,030.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph W. Rovig sold 76,436 shares of the firm’s stock in a transaction on Thursday, June 28th. The shares were sold at an average price of $42.94, for a total transaction of $3,282,161.84. The disclosure for this sale can be found here. Insiders sold 121,895 shares of company stock worth $5,161,940 over the last quarter. 0.79% of the stock is owned by corporate insiders.
National-Oilwell Varco opened at $43.40 on Friday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.89 and a current ratio of 3.37. National-Oilwell Varco, Inc. has a 12-month low of $29.90 and a 12-month high of $45.08. The company has a market capitalization of $16.35 billion, a PE ratio of -103.33, a price-to-earnings-growth ratio of 66.12 and a beta of 0.81.
National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data on Thursday, April 26th. The oil and gas exploration company reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.81 billion. analysts predict that National-Oilwell Varco, Inc. will post 0.11 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 29th. Stockholders of record on Friday, June 15th were issued a $0.05 dividend. The ex-dividend date was Thursday, June 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.46%. National-Oilwell Varco’s dividend payout ratio (DPR) is presently -47.62%.
NOV has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of National-Oilwell Varco from a “sell” rating to a “hold” rating in a report on Tuesday, March 13th. ValuEngine upgraded shares of National-Oilwell Varco from a “sell” rating to a “hold” rating in a report on Friday, March 23rd. Susquehanna Bancshares set a $37.00 target price on shares of National-Oilwell Varco and gave the stock a “hold” rating in a report on Friday, April 13th. B. Riley downgraded shares of National-Oilwell Varco from a “buy” rating to a “hold” rating and dropped their target price for the stock from $42.00 to $40.00 in a report on Tuesday, April 17th. Finally, SunTrust Banks set a $31.00 target price on shares of National-Oilwell Varco and gave the stock a “hold” rating in a report on Monday, April 16th. 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. The company presently has a consensus rating of “Hold” and an average price target of $37.41.
National-Oilwell Varco Company Profile
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.
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