Whittier Trust Co. decreased its stake in National Oilwell Varco (NYSE:NOV) by 0.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,523 shares of the oil and gas exploration company’s stock after selling 74 shares during the period. Whittier Trust Co.’s holdings in National Oilwell Varco were worth $320,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Dodge & Cox boosted 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 valued at $827,967,000 after buying an additional 5,347,050 shares during the last quarter. State Street Corp boosted its stake in 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 during the last quarter. Kiltearn Partners LLP boosted its stake in 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 during the last quarter. Legal & General Group Plc boosted its stake in 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 during the last quarter. Finally, Marathon Asset Management LLP boosted its stake in 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 during the last quarter. Hedge funds and other institutional investors own 94.11% of the company’s stock.
Shares of National Oilwell Varco (NYSE:NOV) traded down 0.41% during trading on Friday, reaching $36.14. 2,009,626 shares of the company’s stock traded hands. The company’s market capitalization is $13.65 billion. The company has a 50 day moving average of $34.65 and a 200-day moving average of $33.05. National Oilwell Varco has a 1-year low of $25.74 and a 1-year high of $40.24.
National Oilwell Varco (NYSE:NOV) last posted its earnings results on Thursday, July 28th. The oil and gas exploration company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.02. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.80 billion. National Oilwell Varco had a positive return on equity of 1.83% and a negative net margin of 17.14%. The firm’s quarterly revenue was down 55.9% compared to the same quarter last year. During the same period last year, the business posted $0.77 earnings per share. Equities analysts predict that National Oilwell Varco will post ($0.92) earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were paid 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 payout ratio is -4.40%.
A number of equities research analysts have weighed in on NOV shares. Jefferies Group reiterated a “hold” rating and set a $32.00 price target on shares of National Oilwell Varco in a research report on Monday, August 1st. Citigroup Inc. cut shares of National Oilwell Varco from a “neutral” rating to a “sell” rating and dropped their price target for the company from $37.00 to $30.00 in a research report on Monday, October 3rd. Seaport Global Securities reiterated a “neutral” rating on shares of National Oilwell Varco in a research report on Friday, August 19th. Vetr cut shares of National Oilwell Varco from a “strong-buy” rating to a “buy” rating and set a $40.44 price target for the company. in a research report on Monday, June 27th. Finally, BMO Capital Markets reiterated a “sell” rating and set a $25.00 price target on shares of National Oilwell Varco in a research report on Friday, July 29th. Five investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target 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 stock was sold at an average price of $33.40, for a total value of $106,245.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.17% of the stock is 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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