Estabrook Capital Management decreased its position in National-Oilwell Varco, Inc. (NYSE:NOV) by 3.1% in the 4th quarter, HoldingsChannel reports. The fund owned 23,157 shares of the oil and gas exploration company’s stock after selling 739 shares during the period. Estabrook Capital Management’s holdings in National-Oilwell Varco were worth $595,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the business. State of Alaska Department of Revenue grew its position in shares of National-Oilwell Varco by 29.5% during the fourth quarter. State of Alaska Department of Revenue now owns 138,601 shares of the oil and gas exploration company’s stock worth $3,559,000 after buying an additional 31,567 shares in the last quarter. Legal & General Group Plc grew its position in shares of National-Oilwell Varco by 2.0% during the third quarter. Legal & General Group Plc now owns 2,012,309 shares of the oil and gas exploration company’s stock worth $86,712,000 after buying an additional 39,430 shares in the last quarter. Virtu Financial LLC grew its position in shares of National-Oilwell Varco by 51.4% during the fourth quarter. Virtu Financial LLC now owns 12,213 shares of the oil and gas exploration company’s stock worth $314,000 after buying an additional 4,147 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of National-Oilwell Varco by 55.2% during the third quarter. Renaissance Technologies LLC now owns 597,910 shares of the oil and gas exploration company’s stock worth $25,758,000 after buying an additional 212,600 shares in the last quarter. Finally, Capital Research Global Investors grew its position in shares of National-Oilwell Varco by 48.1% during the third quarter. Capital Research Global Investors now owns 9,588,000 shares of the oil and gas exploration company’s stock worth $413,051,000 after buying an additional 3,114,117 shares in the last quarter. 92.93% of the stock is owned by institutional investors.
NOV stock opened at $27.04 on Friday. The company has a current ratio of 3.11, a quick ratio of 1.83 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $10.33 billion, a price-to-earnings ratio of -338.00, a P/E/G ratio of 24.85 and a beta of 1.23. National-Oilwell Varco, Inc. has a 1 year low of $24.27 and a 1 year high of $49.08.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Thursday, March 14th. National-Oilwell Varco’s payout ratio is -250.00%.
A number of research firms have recently weighed in on NOV. Zacks Investment Research raised shares of National-Oilwell Varco from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Gabelli reaffirmed a “buy” rating on shares of National-Oilwell Varco in a report on Monday, February 11th. Goldman Sachs Group assumed coverage on shares of National-Oilwell Varco in a report on Sunday, March 10th. They issued a “neutral” rating and a $33.00 price objective for the company. Cowen set a $39.00 price objective on shares of National-Oilwell Varco and gave the stock a “hold” rating in a report on Monday, December 3rd. Finally, Raymond James set a $40.00 price objective on shares of National-Oilwell Varco and gave the stock a “buy” rating in a report on Friday, February 8th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $38.83.
In other National-Oilwell Varco news, VP Scott K. Duff sold 15,125 shares of the firm’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $28.02, for a total value of $423,802.50. Following the sale, the vice president now directly owns 54,098 shares in the company, valued at $1,515,825.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.79% of the company’s stock.
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National-Oilwell Varco Company 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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