Gargoyle Investment Advisor L.L.C. Continues to Hold Stake in National Oilwell Varco (NOV)
Gargoyle Investment Advisor L.L.C. continued to hold its stake in shares of National Oilwell Varco (NYSE:NOV) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,012 shares of the oil and gas exploration company’s stock at the end of the second quarter. Gargoyle Investment Advisor L.L.C.’s holdings in National Oilwell Varco were worth $774,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the company. Huntington Asset Advisors Inc. bought a new stake in shares of National Oilwell Varco during the first quarter valued at approximately $174,000. Meeder Asset Management Inc. bought a new stake in shares of National Oilwell Varco during the first quarter valued at approximately $193,000. Jolley Asset Management LLC increased its stake in shares of 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 valued at $214,000 after buying an additional 1,150 shares during the last quarter. Phocas Financial Corp. bought a new stake in shares of National Oilwell Varco during the first quarter valued at approximately $223,000. Finally, Murphy Pohlad Asset Management LLC bought a new stake in shares of National Oilwell Varco during the second quarter valued at approximately $238,000. 94.11% of the stock is currently owned by hedge funds and other institutional investors.
National Oilwell Varco (NYSE:NOV) traded down 1.33% on Tuesday, reaching $35.68. The company had a trading volume of 4,127,515 shares. National Oilwell Varco has a 12 month low of $25.74 and a 12 month high of $42.62. The stock’s market capitalization is $13.47 billion. The firm has a 50 day moving average price of $34.36 and a 200-day moving average price of $32.82.
National Oilwell Varco (NYSE:NOV) last announced its quarterly earnings data on Thursday, July 28th. The oil and gas exploration company reported ($0.30) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.32) by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.80 billion. National Oilwell Varco had a positive return on equity of 1.83% and a negative net margin of 17.14%. The business’s quarterly revenue was down 55.9% compared to the same quarter last year. During the same period last year, the company earned $0.77 EPS. Analysts forecast that National Oilwell Varco will post ($0.92) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were given a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.56%. National Oilwell Varco’s payout ratio is -4.40%.
Several equities research analysts recently commented on the company. Jefferies Group reiterated a “hold” rating and set a $33.00 target price (up from $30.00) on shares of National Oilwell Varco in a report on Monday, July 11th. Howard Weil raised their target price on National Oilwell Varco from $32.00 to $37.00 and gave the company a “sector perform” rating in a report on Wednesday, June 15th. Vetr upgraded National Oilwell Varco from a “buy” rating to a “strong-buy” rating and set a $37.96 target price on the stock in a report on Wednesday, June 15th. Scotiabank reiterated a “sector perform” rating and set a $37.00 target price (up from $32.00) on shares of National Oilwell Varco in a report on Wednesday, June 15th. Finally, Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of National Oilwell Varco in a report on Tuesday, July 5th. Five research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $34.70.
In other National Oilwell Varco news, VP Scott K. Duff sold 3,181 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $33.40, for a total value of $106,245.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is owned by company 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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