Hotchkis & Wiley Capital Management LLC bought a new position in shares of National Oilwell Varco, Inc. (NYSE:NOV) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,336,990 shares of the oil and gas exploration company’s stock, valued at approximately $226,421,000. Hotchkis & Wiley Capital Management LLC owned 1.67% of National Oilwell Varco at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tiedemann Wealth Management LLC grew its holdings in National Oilwell Varco by 77.8% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 11,668 shares of the oil and gas exploration company’s stock valued at $194,000 after buying an additional 5,107 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in National Oilwell Varco by 7.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,653,899 shares of the oil and gas exploration company’s stock valued at $59,094,000 after buying an additional 119,301 shares in the last quarter. Commonwealth Bank of Australia grew its holdings in National Oilwell Varco by 7.2% during the 3rd quarter. Commonwealth Bank of Australia now owns 106,748 shares of the oil and gas exploration company’s stock valued at $3,808,000 after buying an additional 7,190 shares in the last quarter. WINTON GROUP Ltd grew its holdings in National Oilwell Varco by 1,131.4% during the 3rd quarter. WINTON GROUP Ltd now owns 87,306 shares of the oil and gas exploration company’s stock valued at $3,119,000 after buying an additional 80,216 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in National Oilwell Varco by 17.1% during the 3rd quarter. Wells Fargo & Company MN now owns 5,248,794 shares of the oil and gas exploration company’s stock valued at $187,541,000 after buying an additional 765,634 shares in the last quarter. Institutional investors own 92.57% of the company’s stock.

National Oilwell Varco, Inc. (NOV) traded up $0.48 during mid-day trading on Thursday, hitting $32.61. 2,660,100 shares of the company were exchanged, compared to its average volume of 3,289,290. National Oilwell Varco, Inc. has a 1 year low of $29.90 and a 1 year high of $43.63. The company has a quick ratio of 1.62, a current ratio of 2.75 and a debt-to-equity ratio of 0.19.

National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. National Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. National Oilwell Varco’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.34) earnings per share. analysts predict that National Oilwell Varco, Inc. will post -0.41 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Thursday, December 7th. National Oilwell Varco’s payout ratio is -8.03%.

A number of equities research analysts have issued reports on NOV shares. Scotiabank set a $37.00 price objective on shares of National Oilwell Varco and gave the company a “hold” rating in a report on Friday, October 27th. FBR & Co reaffirmed a “buy” rating and set a $42.00 price objective on shares of National Oilwell Varco in a report on Thursday, August 31st. Zacks Investment Research lowered shares of National Oilwell Varco from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Royal Bank Of Canada reaffirmed a “hold” rating on shares of National Oilwell Varco in a report on Friday, September 1st. Finally, Loop Capital raised shares of National Oilwell Varco from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Thursday, August 17th. Five investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $37.83.

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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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