Strs Ohio Has $8.97 Million Stake in National-Oilwell Varco, Inc. (NOV)

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Strs Ohio grew its position in National-Oilwell Varco, Inc. (NYSE:NOV) by 6.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 206,610 shares of the oil and gas exploration company’s stock after purchasing an additional 12,534 shares during the period. Strs Ohio’s holdings in National-Oilwell Varco were worth $8,966,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Parnassus Investments CA grew its position in National-Oilwell Varco by 48.5% during the second quarter. Parnassus Investments CA now owns 10,325,152 shares of the oil and gas exploration company’s stock valued at $448,112,000 after buying an additional 3,374,289 shares during the period. Wells Fargo & Company MN grew its position in National-Oilwell Varco by 3.1% during the first quarter. Wells Fargo & Company MN now owns 5,354,118 shares of the oil and gas exploration company’s stock valued at $197,086,000 after buying an additional 159,249 shares during the period. Pzena Investment Management LLC bought a new position in National-Oilwell Varco during the second quarter valued at about $191,593,000. Ruffer LLP bought a new position in National-Oilwell Varco during the second quarter valued at about $170,243,000. Finally, Schwab Charles Investment Management Inc. grew its position in National-Oilwell Varco by 5.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,805,870 shares of the oil and gas exploration company’s stock valued at $66,475,000 after buying an additional 85,888 shares during the period. Institutional investors own 96.48% of the company’s stock.

In other news, Director Eric L. Mattson sold 4,338 shares of National-Oilwell Varco stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $45.65, for a total value of $198,029.70. Following the completion of the transaction, the director now owns 76,484 shares of the company’s stock, valued at approximately $3,491,494.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Craig L. Weinstock sold 3,709 shares of National-Oilwell Varco stock in a transaction dated Monday, July 30th. The stock was sold at an average price of $48.02, for a total value of $178,106.18. Following the completion of the transaction, the vice president now directly owns 42,663 shares of the company’s stock, valued at approximately $2,048,677.26. The disclosure for this sale can be found here. Insiders sold 574,599 shares of company stock valued at $27,128,255 over the last 90 days. 0.79% of the stock is owned by company insiders.

Shares of NYSE:NOV opened at $43.84 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.19 and a quick ratio of 1.75. The stock has a market cap of $17.54 billion, a price-to-earnings ratio of -104.38, a price-to-earnings-growth ratio of 44.94 and a beta of 0.87. National-Oilwell Varco, Inc. has a twelve month low of $29.90 and a twelve month high of $49.08.

National-Oilwell Varco (NYSE:NOV) last issued its earnings results on Thursday, July 26th. The oil and gas exploration company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. National-Oilwell Varco had a negative net margin of 1.09% and a negative return on equity of 0.60%. The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the business earned ($0.14) earnings per share. The company’s quarterly revenue was up 19.7% on a year-over-year basis. analysts predict that National-Oilwell Varco, Inc. will post 0.17 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.46%. National-Oilwell Varco’s dividend payout ratio (DPR) is currently -47.62%.

Several equities analysts recently weighed in on the stock. Citigroup increased their price target on shares of National-Oilwell Varco from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 31st. Barclays increased their price target on shares of National-Oilwell Varco from $37.00 to $44.00 and gave the company a “hold” rating in a research report on Monday, July 30th. Susquehanna Bancshares set a $45.00 price target on shares of National-Oilwell Varco and gave the company a “hold” rating in a research report on Monday, July 30th. Jefferies Financial Group reiterated a “hold” rating and set a $42.00 target price on shares of National-Oilwell Varco in a research report on Monday, July 30th. Finally, Seaport Global Securities reiterated a “sell” rating and set a $37.00 target price on shares of National-Oilwell Varco in a research report on Tuesday, July 31st. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $41.18.

National-Oilwell Varco Company Profile

National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

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

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