Calamos Advisors LLC Boosts Stake in National Oilwell Varco (NOV)
Calamos Advisors LLC increased its position in National Oilwell Varco (NYSE:NOV) by 0.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,184 shares of the oil and gas exploration company’s stock after buying an additional 19 shares during the period. Calamos Advisors LLC’s holdings in National Oilwell Varco were worth $1,891,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Speece Thorson Capital Group Inc. increased its position in shares of National Oilwell Varco by 19.5% in the second quarter. Speece Thorson Capital Group Inc. now owns 292,078 shares of the oil and gas exploration company’s stock worth $9,828,000 after buying an additional 47,658 shares in the last quarter. Candriam Luxembourg S.C.A. increased its position in shares of National Oilwell Varco by 100.3% in the second quarter. Candriam Luxembourg S.C.A. now owns 95,749 shares of the oil and gas exploration company’s stock worth $3,222,000 after buying an additional 47,950 shares in the last quarter. Strs Ohio increased its position in shares of National Oilwell Varco by 1.2% in the second quarter. Strs Ohio now owns 603,328 shares of the oil and gas exploration company’s stock worth $20,301,000 after buying an additional 7,160 shares in the last quarter. Pitcairn Co. increased its position in shares of National Oilwell Varco by 22.9% in the second quarter. Pitcairn Co. now owns 46,755 shares of the oil and gas exploration company’s stock worth $1,573,000 after buying an additional 8,713 shares in the last quarter. Finally, Stoneridge Investment Partners LLC bought a new position in shares of National Oilwell Varco during the second quarter worth approximately $442,000. 94.11% of the stock is owned by institutional investors and hedge funds.
National Oilwell Varco (NYSE:NOV) traded down 1.33% during trading on Tuesday, hitting $35.68. The stock had a trading volume of 4,127,515 shares. National Oilwell Varco has a 1-year low of $25.74 and a 1-year high of $42.62. The firm’s 50 day moving average is $34.36 and its 200 day moving average is $32.82. The firm’s market cap is $13.47 billion.
National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data on Thursday, July 28th. The oil and gas exploration company reported ($0.30) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.02. National Oilwell Varco had a positive return on equity of 1.83% and a negative net margin of 17.14%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the business earned $0.77 EPS. The company’s quarterly revenue was down 55.9% compared to the same quarter last year. On average, analysts anticipate that National Oilwell Varco will post ($0.92) earnings per share for the current year.
The company 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. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Wednesday, September 14th. National Oilwell Varco’s dividend payout ratio is presently -4.40%.
A number of brokerages have recently commented on NOV. Citigroup Inc. downgraded National Oilwell Varco from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $37.00 to $30.00 in a research report on Monday. Seaport Global Securities reaffirmed a “neutral” rating on shares of National Oilwell Varco in a report on Friday, August 19th. Nomura set a $29.00 price target on National Oilwell Varco and gave the company a “hold” rating in a report on Tuesday, August 16th. Jefferies Group reaffirmed a “hold” rating and issued a $32.00 price target on shares of National Oilwell Varco in a report on Monday, August 1st. Finally, Credit Suisse Group AG reaffirmed a “sell” rating and issued a $23.00 price target on shares of National Oilwell Varco in a report on Friday, July 29th. Five equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $34.70.
In other news, VP Scott K. Duff sold 3,181 shares of the business’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $33.40, for a total transaction of $106,245.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.17% of the stock is owned by insiders.
National Oilwell Varco Company Profile
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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