Private Advisor Group LLC cut its holdings in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 4.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,048 shares of the oil and gas exploration company’s stock after selling 859 shares during the quarter. Private Advisor Group LLC’s holdings in National Oilwell Varco were worth $556,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Amalgamated Bank raised its stake in shares of National Oilwell Varco by 6.1% during the first quarter. Amalgamated Bank now owns 26,521 shares of the oil and gas exploration company’s stock worth $1,063,000 after acquiring an additional 1,525 shares in the last quarter. Comerica Bank raised its stake in shares of National Oilwell Varco by 1.0% during the second quarter. Comerica Bank now owns 121,682 shares of the oil and gas exploration company’s stock worth $4,037,000 after acquiring an additional 1,187 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of National Oilwell Varco by 13.1% during the first quarter. Nomura Asset Management Co. Ltd. now owns 234,915 shares of the oil and gas exploration company’s stock worth $9,416,000 after acquiring an additional 27,197 shares in the last quarter. Andra AP fonden raised its stake in shares of National Oilwell Varco by 32.7% during the second quarter. Andra AP fonden now owns 58,500 shares of the oil and gas exploration company’s stock worth $1,927,000 after acquiring an additional 14,400 shares in the last quarter. Finally, World Asset Management Inc raised its stake in shares of National Oilwell Varco by 9.7% during the first quarter. World Asset Management Inc now owns 43,074 shares of the oil and gas exploration company’s stock worth $1,727,000 after acquiring an additional 3,816 shares in the last quarter. 90.32% of the stock is currently owned by hedge funds and other institutional investors.

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Several brokerages recently commented on NOV. BMO Capital Markets reaffirmed a “sell” rating and issued a $30.00 target price on shares of National Oilwell Varco in a research note on Thursday, June 22nd. BidaskClub downgraded shares of National Oilwell Varco from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Credit Suisse Group set a $35.00 target price on shares of National Oilwell Varco and gave the stock a “hold” rating in a research note on Saturday, July 29th. FBR & Co reaffirmed a “buy” rating and issued a $42.00 target price on shares of National Oilwell Varco in a research note on Thursday, August 31st. Finally, Barclays PLC reaffirmed a “hold” rating and issued a $38.00 target price on shares of National Oilwell Varco in a research note on Wednesday, August 2nd. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $38.82.

National Oilwell Varco, Inc. (NOV) opened at 33.97 on Friday. National Oilwell Varco, Inc. has a 1-year low of $29.90 and a 1-year high of $43.63. The firm has a 50-day moving average price of $31.43 and a 200 day moving average price of $34.45. The company’s market capitalization is $12.91 billion.

National Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.78 billion. National Oilwell Varco had a negative return on equity of 2.12% and a negative net margin of 33.24%. National Oilwell Varco’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the business earned ($0.30) earnings per share. On average, equities analysts predict that National Oilwell Varco, Inc. will post ($0.40) EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Thursday, September 14th. National Oilwell Varco’s dividend payout ratio (DPR) is presently -3.31%.

National Oilwell Varco Profile

National Oilwell Varco, Inc is an oilfield equipment manufacturer and technology provider. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies and Completion & Production Solutions. The Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore.

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Institutional Ownership by Quarter for National Oilwell Varco (NYSE:NOV)

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