Bartlett & Co. LLC Has $152,000 Position in National Oilwell Varco (NOV)
Bartlett & Co. LLC maintained its position in National Oilwell Varco (NYSE:NOV) during the second quarter, Holdings Channel reports. The fund owned 4,531 shares of the oil and gas exploration company’s stock at the end of the second quarter. Bartlett & Co. LLC’s holdings in National Oilwell Varco were worth $152,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Huntington Asset Advisors Inc. purchased a new position in National Oilwell Varco during the first quarter worth approximately $174,000. Meeder Asset Management Inc. purchased a new position in National Oilwell Varco during the first quarter worth approximately $193,000. Jolley Asset Management LLC raised its position in National Oilwell Varco by 22.0% in the second quarter. Jolley Asset Management LLC now owns 6,370 shares of the oil and gas exploration company’s stock worth $214,000 after buying an additional 1,150 shares during the period. Phocas Financial Corp. purchased a new position in National Oilwell Varco during the first quarter worth approximately $223,000. Finally, Murphy Pohlad Asset Management LLC purchased a new position in National Oilwell Varco during the second quarter worth approximately $238,000. Hedge funds and other institutional investors own 94.11% of the company’s stock.
Shares of National Oilwell Varco (NYSE:NOV) traded down 0.33% during mid-day trading on Friday, reaching $36.74. 5,321,942 shares of the company’s stock were exchanged. The company’s market cap is $13.87 billion. The company’s 50-day moving average price is $34.27 and its 200 day moving average price is $32.79. National Oilwell Varco has a 52-week low of $25.74 and a 52-week high of $42.62.
National Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Thursday, July 28th. The oil and gas exploration company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.02. National Oilwell Varco had a negative net margin of 17.14% and a positive return on equity of 1.83%. The firm earned $1.72 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the business earned $0.77 EPS. The company’s revenue was down 55.9% compared to the same quarter last year. On average, equities research analysts predict that National Oilwell Varco will post ($0.92) EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a $0.05 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. National Oilwell Varco’s dividend payout ratio is currently -4.40%.
A number of equities analysts have commented on NOV shares. Johnson Rice upgraded shares of National Oilwell Varco from a “hold” rating to an “accumulate” rating in a research report on Friday, July 29th. Vetr downgraded shares of National Oilwell Varco from a “strong-buy” rating to a “buy” rating and set a $40.44 target price for the company. in a research note on Monday, June 27th. Zacks Investment Research raised shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Monday, June 13th. Jefferies Group reaffirmed a “hold” rating and issued a $33.00 target price (up from $30.00) on shares of National Oilwell Varco in a research note on Monday, July 11th. Finally, Nomura set a $29.00 target price on shares of National Oilwell Varco and gave the stock a “hold” rating in a research note on Tuesday, August 16th. Four research analysts have rated the stock with a sell rating, twenty have issued a hold rating and seven have assigned a buy rating to the stock. National Oilwell Varco presently has a consensus rating of “Hold” and a consensus price target of $34.98.
In other news, VP Scott K. Duff sold 3,181 shares of National Oilwell Varco stock in a transaction on Monday, August 8th. The shares were sold at an average price of $33.40, for a total value of $106,245.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is currently owned by insiders.
About National Oilwell Varco
National Oilwell Varco, Inc (NOV) is engaged in providing design, manufacture and sale of equipment and components used in oil and gas drilling, completion and production operations. The Company operates through four segments: Rig Systems, which makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore; Rig Aftermarket, which provides aftermarket products and services to support land and offshore rigs, and drilling rig components manufactured by the Company’s Rig Systems segment; Wellbore Technologies, which sells and rents solids control equipment, and provides solids control, waste management and drilling fluids services, and Completion & Production Solutions, which provides technologies for well completions and oil and gas production.
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