AQR Capital Management LLC lowered its position in National-Oilwell Varco, Inc. (NYSE:NOV) by 97.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,684 shares of the oil and gas exploration company’s stock after selling 491,793 shares during the period. AQR Capital Management LLC’s holdings in National-Oilwell Varco were worth $297,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. TRUE Private Wealth Advisors acquired a new position in National-Oilwell Varco in the second quarter worth approximately $26,000. Berman Capital Advisors LLC grew its holdings in National-Oilwell Varco by 385.0% during the second quarter. Berman Capital Advisors LLC now owns 1,387 shares of the oil and gas exploration company’s stock valued at $30,000 after purchasing an additional 1,101 shares during the last quarter. Investors Research Corp grew its holdings in National-Oilwell Varco by 250.0% during the second quarter. Investors Research Corp now owns 1,400 shares of the oil and gas exploration company’s stock valued at $31,000 after purchasing an additional 1,000 shares during the last quarter. Rational Advisors LLC grew its holdings in National-Oilwell Varco by 375.4% during the second quarter. Rational Advisors LLC now owns 1,664 shares of the oil and gas exploration company’s stock valued at $37,000 after purchasing an additional 1,314 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC acquired a new position in National-Oilwell Varco during the second quarter valued at approximately $103,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.
Several brokerages have commented on NOV. Wells Fargo & Co increased their price target on National-Oilwell Varco from $22.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, September 12th. Seaport Global Securities upgraded National-Oilwell Varco from a “sell” rating to a “neutral” rating in a report on Wednesday, July 31st. UBS Group set a $25.00 price target on National-Oilwell Varco and gave the company a “hold” rating in a report on Wednesday, July 31st. Raymond James increased their price target on National-Oilwell Varco from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Citigroup lowered their price target on National-Oilwell Varco from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $30.48.
NOV opened at $21.18 on Friday. National-Oilwell Varco, Inc. has a 1-year low of $18.05 and a 1-year high of $42.87. The company has a current ratio of 3.05, a quick ratio of 1.76 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of -264.75, a P/E/G ratio of 64.04 and a beta of 1.30. The business has a 50 day moving average of $21.34 and a 200-day moving average of $22.73.
National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data on Monday, July 29th. The oil and gas exploration company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.03. National-Oilwell Varco had a negative return on equity of 0.64% and a negative net margin of 63.23%. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Equities analysts predict that National-Oilwell Varco, Inc. will post 0.02 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.05 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.94%. National-Oilwell Varco’s dividend payout ratio is -250.00%.
National-Oilwell Varco 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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