Jasper Ridge Partners L.P. Has $515,000 Position in National Oilwell Varco, Inc. (NOV)

Jasper Ridge Partners L.P. continued to hold its stake in shares of National Oilwell Varco, Inc. (NYSE:NOV) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,640 shares of the oil and gas exploration company’s stock at the end of the 2nd quarter. Jasper Ridge Partners L.P.’s holdings in National Oilwell Varco were worth $515,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. BlackRock Inc. boosted its holdings in shares of National Oilwell Varco by 3,189.2% in the 1st quarter. BlackRock Inc. now owns 24,841,300 shares of the oil and gas exploration company’s stock worth $995,890,000 after purchasing an additional 24,086,060 shares in the last quarter. FMR LLC boosted its holdings in National Oilwell Varco by 35.3% during the 1st quarter. FMR LLC now owns 9,054,139 shares of the oil and gas exploration company’s stock valued at $362,980,000 after acquiring an additional 2,363,202 shares during the period. Schroder Investment Management Group boosted its holdings in National Oilwell Varco by 37,171.5% during the 1st quarter. Schroder Investment Management Group now owns 1,515,460 shares of the oil and gas exploration company’s stock valued at $60,723,000 after acquiring an additional 1,511,394 shares during the period. American Century Companies Inc. boosted its holdings in National Oilwell Varco by 33.6% during the 2nd quarter. American Century Companies Inc. now owns 5,924,558 shares of the oil and gas exploration company’s stock valued at $195,155,000 after acquiring an additional 1,491,359 shares during the period. Finally, Morgan Stanley boosted its holdings in National Oilwell Varco by 36.3% during the 1st quarter. Morgan Stanley now owns 4,218,392 shares of the oil and gas exploration company’s stock valued at $169,114,000 after acquiring an additional 1,124,578 shares during the period. Hedge funds and other institutional investors own 90.32% of the company’s stock.

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Several equities research analysts have weighed in on NOV shares. BMO Capital Markets reiterated a “sell” rating and issued a $30.00 price objective on shares of National Oilwell Varco in a report on Thursday, June 22nd. BidaskClub cut National Oilwell Varco from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Credit Suisse Group set a $35.00 price objective on National Oilwell Varco and gave the stock a “hold” rating in a report on Saturday, July 29th. FBR & Co reiterated a “buy” rating and issued a $42.00 price objective on shares of National Oilwell Varco in a report on Thursday, August 31st. Finally, Barclays PLC reiterated a “hold” rating and issued a $38.00 price objective on shares of National Oilwell Varco in a report on Wednesday, August 2nd. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $38.82.

National Oilwell Varco, Inc. (NYSE:NOV) traded up 1.61% during trading on Tuesday, hitting $32.78. The company had a trading volume of 491,289 shares. The stock’s market capitalization is $12.46 billion. National Oilwell Varco, Inc. has a 52-week low of $29.90 and a 52-week high of $43.63. The firm’s 50 day moving average is $31.37 and its 200-day moving average is $34.52.

National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas exploration company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.78 billion. National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. National Oilwell Varco’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.30) earnings per share. On average, equities analysts forecast that National Oilwell Varco, Inc. will post ($0.40) earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.05 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.62%. National Oilwell Varco’s dividend payout ratio is presently -3.31%.

National Oilwell Varco Profile

National Oilwell Varco, Inc is an oilfield equipment manufacturer and technology provider. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies and Completion & Production Solutions. The Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore.

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

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