Stevens Capital Management LP Takes Position in National-Oilwell Varco, Inc. (NOV)

Stevens Capital Management LP acquired a new stake in National-Oilwell Varco, Inc. (NYSE:NOV) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 37,684 shares of the oil and gas exploration company’s stock, valued at approximately $1,623,000.

A number of other institutional investors have also recently bought and sold shares of the stock. State Treasurer State of Michigan lifted its position in shares of National-Oilwell Varco by 1.1% during the second quarter. State Treasurer State of Michigan now owns 113,078 shares of the oil and gas exploration company’s stock worth $4,908,000 after acquiring an additional 1,200 shares in the last quarter. Commerce Bank lifted its position in shares of National-Oilwell Varco by 21.2% during the third quarter. Commerce Bank now owns 8,283 shares of the oil and gas exploration company’s stock worth $357,000 after acquiring an additional 1,451 shares in the last quarter. Bank of Hawaii lifted its position in shares of National-Oilwell Varco by 4.1% during the third quarter. Bank of Hawaii now owns 38,910 shares of the oil and gas exploration company’s stock worth $1,676,000 after acquiring an additional 1,547 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of National-Oilwell Varco by 32.7% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,489 shares of the oil and gas exploration company’s stock worth $280,000 after acquiring an additional 1,600 shares in the last quarter. Finally, MUFG Americas Holdings Corp lifted its position in shares of National-Oilwell Varco by 29.8% during the second quarter. MUFG Americas Holdings Corp now owns 7,183 shares of the oil and gas exploration company’s stock worth $312,000 after acquiring an additional 1,650 shares in the last quarter. Institutional investors and hedge funds own 92.58% of the company’s stock.

Several equities research analysts have issued reports on NOV shares. Morgan Stanley started coverage on National-Oilwell Varco in a research report on Tuesday, September 18th. They set an “equal weight” rating and a $50.00 target price on the stock. Johnson Rice upgraded National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Tuesday, October 2nd. Jefferies Financial Group increased their target price on National-Oilwell Varco from $42.00 to $46.00 and gave the stock a “hold” rating in a research report on Thursday, October 18th. Cowen restated a “hold” rating and set a $45.00 target price on shares of National-Oilwell Varco in a research report on Friday, October 12th. Finally, Citigroup dropped their target price on National-Oilwell Varco from $48.00 to $40.00 and set a “hold” rating on the stock in a research report on Monday, October 29th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. National-Oilwell Varco has an average rating of “Hold” and an average price target of $42.77.

National-Oilwell Varco stock opened at $31.68 on Wednesday. The firm has a market capitalization of $12.31 billion, a PE ratio of -75.43 and a beta of 1.00. National-Oilwell Varco, Inc. has a fifty-two week low of $31.30 and a fifty-two week high of $49.08. The company has a current ratio of 3.17, a quick ratio of 1.78 and a debt-to-equity ratio of 0.19.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be issued a $0.05 dividend. The ex-dividend date is Thursday, December 6th. This represents a $0.20 annualized dividend and a dividend yield of 0.63%. National-Oilwell Varco’s payout ratio is currently -47.62%.

National-Oilwell Varco declared that its board has approved a share buyback plan on Tuesday, November 6th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the oil and gas exploration company to reacquire up to 3.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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

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