Victory Capital Management Inc. Sells 118 Shares of National Oilwell Varco (NOV)
Victory Capital Management Inc. decreased its position in National Oilwell Varco (NYSE:NOV) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,813 shares of the oil and gas exploration company’s stock after selling 118 shares during the period. Victory Capital Management Inc.’s holdings in National Oilwell Varco were worth $162,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Dodge & Cox increased its stake in National Oilwell Varco by 25.1% in the first quarter. Dodge & Cox now owns 26,622,720 shares of the oil and gas exploration company’s stock worth $827,967,000 after buying an additional 5,347,050 shares during the period. State Street Corp increased its stake in National Oilwell Varco by 2.7% in the first quarter. State Street Corp now owns 20,025,837 shares of the oil and gas exploration company’s stock worth $622,810,000 after buying an additional 527,616 shares during the period. BlackRock Fund Advisors increased its stake in National Oilwell Varco by 6.0% in the first quarter. BlackRock Fund Advisors now owns 11,555,142 shares of the oil and gas exploration company’s stock worth $359,365,000 after buying an additional 658,394 shares during the period. Bank of New York Mellon Corp increased its stake in National Oilwell Varco by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 9,044,580 shares of the oil and gas exploration company’s stock worth $304,350,000 after buying an additional 126,412 shares during the period. Finally, Kiltearn Partners LLP increased its stake in National Oilwell Varco by 32.2% in the first quarter. Kiltearn Partners LLP now owns 2,103,057 shares of the oil and gas exploration company’s stock worth $65,405,000 after buying an additional 511,700 shares during the period. 94.11% of the stock is currently owned by institutional investors and hedge funds.
National Oilwell Varco (NYSE:NOV) traded up 4.46% during trading on Wednesday, hitting $37.27. 1,718,544 shares of the stock were exchanged. National Oilwell Varco has a 52 week low of $25.74 and a 52 week high of $42.62. The firm’s market cap is $14.07 billion. The firm’s 50-day moving average is $34.36 and its 200 day moving average is $32.82.
National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings results on Thursday, July 28th. The oil and gas exploration company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.02. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.80 billion. National Oilwell Varco had a negative net margin of 17.14% and a positive return on equity of 1.83%. National Oilwell Varco’s revenue was down 55.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 earnings per share. Analysts expect that National Oilwell Varco will post ($0.92) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Wednesday, September 14th. National Oilwell Varco’s dividend payout ratio is presently -4.40%.
NOV has been the topic of a number of recent research reports. Jefferies Group reissued a “hold” rating and set a $32.00 target price on shares of National Oilwell Varco in a research report on Monday, August 1st. Citigroup Inc. downgraded National Oilwell Varco from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $37.00 to $30.00 in a research report on Monday. Seaport Global Securities reissued a “neutral” rating on shares of National Oilwell Varco in a research report on Friday, August 19th. Vetr downgraded National Oilwell Varco from a “strong-buy” rating to a “buy” rating and set a $40.44 target price on the stock. in a research report on Monday, June 27th. Finally, BMO Capital Markets reaffirmed a “sell” rating and set a $25.00 price objective on shares of National Oilwell Varco in a report on Friday, July 29th. Five research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $34.70.
In related 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 transaction of $106,245.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.17% of the company’s stock.
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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