National Oilwell Varco (NOV) Stake Maintained by Rice Hall James & Associates LLC
Rice Hall James & Associates LLC held its stake in shares of National Oilwell Varco (NYSE:NOV) during the second quarter, Holdings Channel reports. The institutional investor owned 13,026 shares of the oil and gas exploration company’s stock at the end of the second quarter. Rice Hall James & Associates LLC’s holdings in National Oilwell Varco were worth $438,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of NOV. Advisory Services Network LLC boosted its stake in shares of National Oilwell Varco by 252.4% in the second quarter. Advisory Services Network LLC now owns 7,319 shares of the oil and gas exploration company’s stock worth $246,000 after buying an additional 5,242 shares in the last quarter. ING Groep NV boosted its stake in National Oilwell Varco by 34.8% in the second quarter. ING Groep NV now owns 18,159 shares of the oil and gas exploration company’s stock valued at $611,000 after buying an additional 4,685 shares during the period. Alps Advisors Inc. bought a new stake in National Oilwell Varco during the second quarter valued at approximately $25,259,000. Speece Thorson Capital Group Inc. boosted its stake in 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 valued at $9,828,000 after buying an additional 47,658 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its stake in 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 valued at $3,222,000 after buying an additional 47,950 shares during the period. Institutional investors own 94.11% of the company’s stock.
Shares of National Oilwell Varco (NYSE:NOV) traded up 2.06% during midday trading on Monday, hitting $37.60. The company had a trading volume of 4,414,677 shares. The firm’s market cap is $14.20 billion. The company’s 50 day moving average is $34.49 and its 200 day moving average is $32.91. National Oilwell Varco has a one year low of $25.74 and a one year high of $40.97.
National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings results on Thursday, July 28th. The oil and gas exploration company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates 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 business 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 company posted $0.77 earnings per share. National Oilwell Varco’s revenue for the quarter was down 55.9% compared to the same quarter last year. Equities analysts forecast that National Oilwell Varco will post ($0.92) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were issued a dividend of $0.05 per share. The ex-dividend date was Wednesday, September 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%. National Oilwell Varco’s dividend payout ratio is -4.40%.
Several equities research analysts have recently commented on NOV shares. Johnson Rice upgraded National Oilwell Varco from a “hold” rating to an “accumulate” rating in a research note on Friday, July 29th. Vetr cut National Oilwell Varco from a “strong-buy” rating to a “buy” rating and set a $40.44 price target for the company. in a research note on Monday, June 27th. Jefferies Group restated a “hold” rating and set a $32.00 price target on shares of National Oilwell Varco in a research note on Monday, August 1st. Zacks Investment Research upgraded National Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Monday, June 13th. Finally, Nomura set a $29.00 price target on National Oilwell Varco and gave the stock a “hold” rating in a research note on Tuesday, August 16th. 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 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 transaction of $106,245.40. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.17% of the company’s stock.
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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