Pettee Investors Inc. bought a new position in shares of National-Oilwell Varco, Inc. (NYSE:NOV) during the second quarter, HoldingsChannel.com reports. The firm bought 18,067 shares of the oil and gas exploration company’s stock, valued at approximately $784,000.

Several other large investors have also added to or reduced their stakes in the company. Independent Order of Foresters lifted its holdings in shares of National-Oilwell Varco by 19.7% during the 2nd quarter. Independent Order of Foresters now owns 7,281 shares of the oil and gas exploration company’s stock valued at $316,000 after purchasing an additional 1,200 shares in the last quarter. State Treasurer State of Michigan lifted its holdings in shares of National-Oilwell Varco by 1.1% during the 2nd quarter. State Treasurer State of Michigan now owns 113,078 shares of the oil and gas exploration company’s stock valued at $4,908,000 after purchasing an additional 1,200 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of National-Oilwell Varco by 180.6% during the 2nd 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 in the last quarter. MUFG Americas Holdings Corp lifted its holdings in shares of National-Oilwell Varco by 29.8% during the 2nd quarter. MUFG Americas Holdings Corp now owns 7,183 shares of the oil and gas exploration company’s stock valued at $312,000 after purchasing an additional 1,650 shares in the last quarter. Finally, Dupont Capital Management Corp lifted its holdings in shares of National-Oilwell Varco by 55.9% during the 2nd quarter. Dupont Capital Management Corp now owns 4,960 shares of the oil and gas exploration company’s stock valued at $215,000 after purchasing an additional 1,779 shares in the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

Several equities analysts have recently weighed in on the company. Barclays lifted their price objective on National-Oilwell Varco from $37.00 to $44.00 and gave the company a “hold” rating in a report on Monday, July 30th. Stifel Nicolaus assumed coverage on National-Oilwell Varco in a report on Monday. They set a “buy” rating and a $54.00 price objective on the stock. Wells Fargo & Co lifted their price objective on National-Oilwell Varco from $37.00 to $47.00 and gave the company a “market perform” rating in a report on Thursday, May 24th. Credit Suisse Group set a $43.00 price objective on National-Oilwell Varco and gave the company a “hold” rating in a report on Monday, July 30th. Finally, Raymond James lifted their price objective on National-Oilwell Varco from $50.00 to $55.00 and gave the company a “buy” rating in a report on Monday, July 30th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $42.77.

In other National-Oilwell Varco news, Director Eric L. Mattson sold 11,112 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $45.34, for a total transaction of $503,818.08. Following the transaction, the director now owns 66,862 shares of the company’s stock, valued at approximately $3,031,523.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Craig L. Weinstock sold 3,709 shares of the business’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $48.02, for a total value of $178,106.18. Following the transaction, the vice president now directly owns 42,663 shares in the company, valued at approximately $2,048,677.26. The disclosure for this sale can be found here. Insiders have sold a total of 590,995 shares of company stock worth $27,870,170 in the last ninety days. Insiders own 0.79% of the company’s stock.

National-Oilwell Varco stock traded up $0.05 during midday trading on Friday, reaching $44.31. The stock had a trading volume of 6,425 shares, compared to its average volume of 2,544,381. National-Oilwell Varco, Inc. has a 1-year low of $31.47 and a 1-year high of $49.08. The firm has a market cap of $17.12 billion, a PE ratio of -105.38, a P/E/G ratio of 44.31 and a beta of 0.94. 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 announced its earnings results on Thursday, July 26th. The oil and gas exploration company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.04. National-Oilwell Varco had a negative return on equity of 0.60% and a negative net margin of 1.09%. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the firm earned ($0.14) EPS. National-Oilwell Varco’s revenue for the quarter was up 19.7% compared to the same quarter last year. equities research analysts predict that National-Oilwell Varco, Inc. will post 0.17 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Thursday, September 13th. National-Oilwell Varco’s dividend payout ratio (DPR) is -47.62%.

About National-Oilwell Varco

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

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