Concert Wealth Management Inc. reduced its position in shares of National Oilwell Varco (NYSE:NOV) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,303 shares of the oil and gas exploration company’s stock after selling 138 shares during the period. Concert Wealth Management Inc.’s holdings in National Oilwell Varco were worth $317,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in NOV. Dodge & Cox increased its stake in National Oilwell Varco by 25.1% in the first quarter. Dodge & Cox now owns 26,622,720 shares of the oil and gas exploration company’s stock worth $827,967,000 after buying an additional 5,347,050 shares during the last quarter. State Street Corp increased its position in shares of National Oilwell Varco by 2.7% in the first quarter. State Street Corp now owns 20,025,837 shares of the oil and gas exploration company’s stock valued at $622,810,000 after buying an additional 527,616 shares in the last quarter. Kiltearn Partners LLP increased its position in shares of National Oilwell Varco by 32.2% in the first quarter. Kiltearn Partners LLP now owns 2,103,057 shares of the oil and gas exploration company’s stock valued at $65,405,000 after buying an additional 511,700 shares in the last quarter. Legal & General Group Plc increased its position in shares of National Oilwell Varco by 10.2% in the first quarter. Legal & General Group Plc now owns 1,946,920 shares of the oil and gas exploration company’s stock valued at $60,553,000 after buying an additional 180,873 shares in the last quarter. Finally, Marathon Asset Management LLP increased its position in shares of National Oilwell Varco by 1.9% in the second quarter. Marathon Asset Management LLP now owns 788,315 shares of the oil and gas exploration company’s stock valued at $26,525,000 after buying an additional 14,444 shares in the last quarter. Institutional investors own 94.11% of the company’s stock.
National Oilwell Varco (NYSE:NOV) traded down 0.41% during midday trading on Friday, reaching $36.14. 2,009,626 shares of the company’s stock traded hands. The firm’s market cap is $13.65 billion. The firm’s 50-day moving average is $34.65 and its 200 day moving average is $33.05. National Oilwell Varco has a 52-week low of $25.74 and a 52-week high of $40.24.
National Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Thursday, July 28th. The oil and gas exploration company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.02. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.80 billion. National Oilwell Varco had a negative net margin of 17.14% and a positive return on equity of 1.83%. The company’s revenue was down 55.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 EPS. Equities research analysts expect that National Oilwell Varco will post ($0.92) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 14th. National Oilwell Varco’s dividend payout ratio (DPR) is presently -4.40%.
Several research analysts have commented on the stock. Jefferies Group restated a “hold” rating and set a $33.00 price objective (up from $30.00) on shares of National Oilwell Varco in a research report on Monday, July 11th. Goldman Sachs Group Inc. restated a “neutral” rating on shares of National Oilwell Varco in a research report on Tuesday, July 5th. Vetr downgraded shares of National Oilwell Varco from a “strong-buy” rating to a “buy” rating and set a $40.44 price objective for the company. in a research report on Monday, June 27th. Credit Suisse Group AG restated a “sell” rating and set a $23.00 price objective on shares of National Oilwell Varco in a research report on Friday, July 29th. Finally, Johnson Rice upgraded shares of National Oilwell Varco from a “hold” rating to an “accumulate” rating in a research report on Friday, July 29th. Five investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and seven have assigned a buy rating to the stock. National Oilwell Varco has a consensus rating of “Hold” and a consensus target price of $34.70.
In other National Oilwell Varco news, VP Scott K. Duff sold 3,181 shares of the firm’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 document filed with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by company 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.
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