National Oilwell Varco (NOV) Stake Boosted by BlackRock Advisors LLC
BlackRock Advisors LLC increased its position in National Oilwell Varco (NYSE:NOV) by 1.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 414,999 shares of the oil and gas exploration company’s stock after buying an additional 5,374 shares during the period. BlackRock Advisors LLC owned 0.11% of National Oilwell Varco worth $13,965,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Virginia Retirement System bought a new position in shares of National Oilwell Varco during the first quarter worth approximately $700,000. IFP Advisors Inc boosted its position in National Oilwell Varco by 52.2% in the first quarter. IFP Advisors Inc now owns 9,474 shares of the oil and gas exploration company’s stock worth $295,000 after buying an additional 3,249 shares in the last quarter. Ngam Advisors L.P. boosted its position in National Oilwell Varco by 1.2% in the first quarter. Ngam Advisors L.P. now owns 120,478 shares of the oil and gas exploration company’s stock worth $3,747,000 after buying an additional 1,405 shares in the last quarter. Teachers Advisors Inc. boosted its position in National Oilwell Varco by 4.5% in the first quarter. Teachers Advisors Inc. now owns 625,196 shares of the oil and gas exploration company’s stock worth $19,444,000 after buying an additional 27,045 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in National Oilwell Varco by 7.3% in the first quarter. Prudential Financial Inc. now owns 1,057,002 shares of the oil and gas exploration company’s stock worth $32,873,000 after buying an additional 71,500 shares in the last quarter. Institutional investors own 94.11% of the company’s stock.
National Oilwell Varco (NYSE:NOV) opened at 36.16 on Tuesday. National Oilwell Varco has a 52 week low of $25.74 and a 52 week high of $42.62. The firm has a 50-day moving average price of $34.34 and a 200-day moving average price of $32.80. The company’s market cap is $13.66 billion.
National Oilwell Varco (NYSE:NOV) last posted its earnings results 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. The business earned $1.72 billion during 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 company’s quarterly revenue was down 55.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.77 EPS. Equities research analysts anticipate that National Oilwell Varco will post ($0.92) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Wednesday, September 14th. National Oilwell Varco’s payout ratio is -4.40%.
A number of research firms have issued reports on NOV. Citigroup Inc. cut National Oilwell Varco from a “neutral” rating to a “sell” rating and decreased their target price for the company from $37.00 to $30.00 in a research report on Monday. Seaport Global Securities reiterated a “neutral” rating on shares of National Oilwell Varco in a research report on Friday, August 19th. Nomura set a $29.00 target price on National Oilwell Varco and gave the company a “hold” rating in a research report on Tuesday, August 16th. Jefferies Group reiterated a “hold” rating and issued a $32.00 target price on shares of National Oilwell Varco in a research report on Monday, August 1st. Finally, Credit Suisse Group AG reiterated a “sell” rating and issued a $23.00 target price on shares of National Oilwell Varco in a research report on Friday, July 29th. Five investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $34.70.
In other National Oilwell Varco news, VP Scott K. Duff sold 3,181 shares of National Oilwell Varco 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is owned by company 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.
Receive News & Ratings for National Oilwell Varco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Oilwell Varco and related companies with MarketBeat.com's FREE daily email newsletter.