National-Oilwell Varco, Inc. (NOV) Shares Sold by Select Equity Group L.P.
Select Equity Group L.P. trimmed its stake in National-Oilwell Varco, Inc. (NYSE:NOV) by 5.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,207,325 shares of the oil and gas exploration company’s stock after selling 63,727 shares during the quarter. Select Equity Group L.P. owned approximately 0.32% of National-Oilwell Varco worth $52,398,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quad Cities Investment Group LLC bought a new stake in shares of National-Oilwell Varco in the second quarter valued at approximately $104,000. Whittier Trust Co. raised its position in shares of National-Oilwell Varco by 180.6% in the second quarter. Whittier Trust Co. now owns 2,455 shares of the oil and gas exploration company’s stock valued at $202,000 after purchasing an additional 1,580 shares during the period. Vanguard Capital Wealth Advisors bought a new stake in shares of National-Oilwell Varco in the second quarter valued at approximately $295,000. Piedmont Investment Advisors LLC bought a new stake in shares of National-Oilwell Varco in the second quarter valued at approximately $194,000. Finally, Assetmark Inc. raised its position in shares of National-Oilwell Varco by 225.5% in the second quarter. Assetmark Inc. now owns 4,551 shares of the oil and gas exploration company’s stock valued at $198,000 after purchasing an additional 3,153 shares during the period. Hedge funds and other institutional investors own 95.61% of the company’s stock.
Several analysts have recently issued reports on NOV shares. Wells Fargo & Co boosted their price target on shares of National-Oilwell Varco from $41.00 to $43.00 and gave the company a “hold” rating in a research report on Sunday, July 29th. Citigroup upped their target price on shares of National-Oilwell Varco from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 31st. R. F. Lafferty raised shares of National-Oilwell Varco from a “hold” rating to a “buy” rating and upped their target price for the stock from $41.00 to $51.00 in a report on Tuesday, August 21st. Barclays upped their target price on shares of National-Oilwell Varco from $37.00 to $44.00 and gave the stock a “hold” rating in a report on Monday, July 30th. Finally, Edward Jones lowered shares of National-Oilwell Varco from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $42.77.
Shares of NYSE:NOV opened at $44.26 on Friday. The firm has a market capitalization of $17.12 billion, a PE ratio of -105.38, a P/E/G ratio of 44.31 and a beta of 0.94. National-Oilwell Varco, Inc. has a one year low of $31.47 and a one year high of $49.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.75 and a current ratio of 3.19.
National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings results on Thursday, July 26th. The oil and gas exploration company reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.04. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2 billion. National-Oilwell Varco had a negative net margin of 1.09% and a negative return on equity of 0.60%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.14) EPS. research analysts expect that National-Oilwell Varco, Inc. will post 0.17 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Thursday, September 13th. National-Oilwell Varco’s payout ratio is -47.62%.
National-Oilwell Varco Company Profile
National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.
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