Candriam Luxembourg S.C.A. boosted its position in National Oilwell Varco (NYSE:NOV) by 100.3% during the second quarter, Holdings Channel reports. The institutional investor owned 95,749 shares of the oil and gas exploration company’s stock after buying an additional 47,950 shares during the period. Candriam Luxembourg S.C.A.’s holdings in National Oilwell Varco were worth $3,222,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Charter Trust Co. raised its stake in National Oilwell Varco by 2.3% in the second quarter. Charter Trust Co. now owns 8,815 shares of the oil and gas exploration company’s stock worth $297,000 after buying an additional 200 shares during the period. Pacific Global Investment Management CO raised its stake in National Oilwell Varco by 3.2% in the first quarter. Pacific Global Investment Management CO now owns 8,215 shares of the oil and gas exploration company’s stock worth $255,000 after buying an additional 252 shares during the period. LS Investment Advisors LLC raised its stake in National Oilwell Varco by 2.4% in the second quarter. LS Investment Advisors LLC now owns 17,262 shares of the oil and gas exploration company’s stock worth $581,000 after buying an additional 399 shares during the period. Arizona State Retirement System raised its stake in National Oilwell Varco by 0.5% in the first quarter. Arizona State Retirement System now owns 101,901 shares of the oil and gas exploration company’s stock worth $3,169,000 after buying an additional 500 shares during the period. Finally, DNB Asset Management AS raised its stake in National Oilwell Varco by 1.5% in the second quarter. DNB Asset Management AS now owns 34,145 shares of the oil and gas exploration company’s stock worth $1,149,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 94.11% of the company’s stock.
Shares of National Oilwell Varco (NYSE:NOV) traded down 0.33% during midday trading on Friday, hitting $36.74. The company had a trading volume of 5,321,942 shares. The firm’s market capitalization is $13.87 billion. The stock has a 50 day moving average price of $34.27 and a 200 day moving average price of $32.79. National Oilwell Varco has a 1-year low of $25.74 and a 1-year high of $42.62.
National Oilwell Varco (NYSE:NOV) last issued its earnings results on Thursday, July 28th. The oil and gas exploration company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.02. The company earned $1.72 billion during the quarter, compared to the consensus estimate of $1.80 billion. National Oilwell Varco had a negative net margin of 17.14% and a positive return on equity of 1.83%. National Oilwell Varco’s quarterly revenue was down 55.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 EPS. On average, equities analysts anticipate that National Oilwell Varco will post ($0.92) EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Wednesday, September 14th. National Oilwell Varco’s dividend payout ratio is currently -4.40%.
Several brokerages recently commented on NOV. Vetr lowered National Oilwell Varco from a “buy” rating to a “hold” rating and set a $37.96 target price on the stock. in a research report on Wednesday, June 8th. Seaport Global Securities restated a “neutral” rating on shares of National Oilwell Varco in a research report on Friday, August 19th. Zacks Investment Research upgraded National Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Monday, June 13th. Bank of America Corp. restated an “underperform” rating on shares of National Oilwell Varco in a research report on Monday, June 13th. Finally, Nomura set a $29.00 target price on National Oilwell Varco and gave the company a “hold” rating in a research report on Tuesday, August 16th. Four equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and seven have assigned a buy rating to the stock. National Oilwell Varco presently has a consensus rating of “Hold” and a consensus target price of $34.98.
In related news, VP Scott K. Duff sold 3,181 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $33.40, for a total value of $106,245.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is currently owned by corporate insiders.
National Oilwell Varco Company Profile
National Oilwell Varco, Inc (NOV) is engaged in providing design, manufacture and sale of equipment and components used in oil and gas drilling, completion and production operations. The Company operates through four segments: Rig Systems, which makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore; Rig Aftermarket, which provides aftermarket products and services to support land and offshore rigs, and drilling rig components manufactured by the Company’s Rig Systems segment; Wellbore Technologies, which sells and rents solids control equipment, and provides solids control, waste management and drilling fluids services, and Completion & Production Solutions, which provides technologies for well completions and oil and gas production.
Want to see what other hedge funds are holding NOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Oilwell Varco (NYSE:NOV).
Receive News & Ratings for National Oilwell Varco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Oilwell Varco and related companies with MarketBeat.com's FREE daily email newsletter.