Marshall Wace North America L.P. Takes $1.19 Million Position in National-Oilwell Varco, Inc. (NYSE:NOV)
Marshall Wace North America L.P. bought a new position in shares of National-Oilwell Varco, Inc. (NYSE:NOV) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 47,581 shares of the oil and gas exploration company’s stock, valued at approximately $1,192,000.
Several other large investors have also recently modified their holdings of the company. Alyeska Investment Group L.P. acquired a new position in National-Oilwell Varco during the 4th quarter valued at about $14,557,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in National-Oilwell Varco by 0.4% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 296,652 shares of the oil and gas exploration company’s stock valued at $7,431,000 after purchasing an additional 1,240 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in National-Oilwell Varco by 265.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 249,639 shares of the oil and gas exploration company’s stock valued at $6,253,000 after purchasing an additional 181,358 shares during the last quarter. Brookfield Hedge Solutions LLC acquired a new position in National-Oilwell Varco during the 4th quarter valued at about $2,877,000. Finally, Valueworks LLC boosted its stake in National-Oilwell Varco by 10.4% during the 4th quarter. Valueworks LLC now owns 76,372 shares of the oil and gas exploration company’s stock valued at $1,913,000 after purchasing an additional 7,206 shares during the last quarter. 95.39% of the stock is currently owned by institutional investors.
National-Oilwell Varco stock opened at $11.02 on Thursday. National-Oilwell Varco, Inc. has a 52 week low of $8.00 and a 52 week high of $29.37. The company’s 50 day moving average price is $17.46 and its two-hundred day moving average price is $21.37. The company has a quick ratio of 1.74, a current ratio of 2.72 and a debt-to-equity ratio of 0.25. The stock has a market cap of $4.30 billion, a P/E ratio of -0.69 and a beta of 1.31.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.20 annualized dividend and a dividend yield of 1.81%. National-Oilwell Varco’s dividend payout ratio is currently -27.78%.
A number of research firms have issued reports on NOV. Cowen lifted their price target on National-Oilwell Varco from $25.00 to $27.00 and gave the company a “market perform” rating in a research note on Monday, February 10th. UBS Group cut their price target on National-Oilwell Varco from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. AltaCorp Capital upgraded National-Oilwell Varco from an “underperform” rating to a “sector perform” rating in a research note on Wednesday, December 18th. Sanford C. Bernstein began coverage on National-Oilwell Varco in a research note on Monday, January 13th. They set a “market perform” rating for the company. Finally, Raymond James cut their price target on National-Oilwell Varco from $27.00 to $11.00 and set an “outperform” rating for the company in a research note on Thursday, March 19th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have assigned a buy rating to the stock. National-Oilwell Varco currently has an average rating of “Hold” and a consensus price target of $21.79.
In related news, CFO Jose A. Bayardo purchased 20,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were bought at an average price of $8.47 per share, with a total value of $169,400.00. Following the acquisition, the chief financial officer now owns 245,748 shares of the company’s stock, valued at approximately $2,081,485.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Scott K. Duff sold 7,134 shares of National-Oilwell Varco stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $23.30, for a total transaction of $166,222.20. Following the completion of the sale, the vice president now directly owns 35,587 shares in the company, valued at approximately $829,177.10. The disclosure for this sale can be found here. 0.92% of the stock is owned by company insiders.
National-Oilwell Varco Profile
National Oilwell Varco, Inc designs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. It operates in three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. The Wellbore Technologies segment offers various equipment and technologies used to perform drilling operations.
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