Delta Asset Management LLC TN increased its holdings in National-Oilwell Varco, Inc. (NYSE:NOV) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 267,457 shares of the oil and gas exploration company’s stock after buying an additional 5,500 shares during the quarter. National-Oilwell Varco comprises approximately 1.5% of Delta Asset Management LLC TN’s investment portfolio, making the stock its 22nd largest holding. Delta Asset Management LLC TN owned 0.07% of National-Oilwell Varco worth $11,522,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of NOV. Quad Cities Investment Group LLC purchased a new stake in National-Oilwell Varco in the 2nd quarter worth approximately $104,000. Cerebellum GP LLC purchased a new stake in National-Oilwell Varco in the 3rd quarter worth approximately $163,000. First Hawaiian Bank purchased a new stake in National-Oilwell Varco in the 3rd quarter worth approximately $174,000. Piedmont Investment Advisors LLC purchased a new stake in National-Oilwell Varco in the 2nd quarter worth approximately $194,000. Finally, Assetmark Inc. boosted its position in National-Oilwell Varco by 225.5% in the 2nd quarter. Assetmark Inc. now owns 4,551 shares of the oil and gas exploration company’s stock worth $198,000 after purchasing an additional 3,153 shares in the last quarter. Institutional investors own 95.45% of the company’s stock.
In related news, Director Eric L. Mattson sold 5,284 shares of the stock in a transaction on Friday, August 24th. The stock was sold at an average price of $45.06, for a total value of $238,097.04. Following the completion of the transaction, the director now directly owns 66,862 shares of the company’s stock, valued at approximately $3,012,801.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eric L. Mattson sold 4,338 shares of the stock in a transaction on Thursday, August 9th. The shares were 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 directly owns 76,484 shares of the company’s stock, valued at $3,491,494.60. The disclosure for this sale can be found here. Insiders have sold a total of 514,559 shares of company stock worth $24,588,009 in the last quarter. Insiders own 0.79% of the company’s stock.
Shares of NYSE:NOV traded down $0.14 during midday trading on Monday, reaching $40.26. 180,962 shares of the company’s stock traded hands, compared to its average volume of 3,540,189. National-Oilwell Varco, Inc. has a 1 year low of $31.47 and a 1 year high of $49.08. The firm has a market capitalization of $15.46 billion, a price-to-earnings ratio of -95.88, a price-to-earnings-growth ratio of 47.81 and a beta of 0.93. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.19 and a quick ratio of 1.75.
National-Oilwell Varco (NYSE:NOV) last announced its earnings results on Thursday, July 26th. The oil and gas exploration company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. National-Oilwell Varco had a negative return on equity of 0.60% and a negative net margin of 1.09%. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the firm posted ($0.14) EPS. The business’s revenue was up 19.7% on a year-over-year basis. On average, sell-side analysts expect that National-Oilwell Varco, Inc. will post 0.14 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, September 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.50%. National-Oilwell Varco’s dividend payout ratio (DPR) is -47.62%.
NOV has been the topic of several recent research reports. Wells Fargo & Co restated a “hold” rating on shares of National-Oilwell Varco in a research report on Friday, June 29th. Citigroup upped their price objective on National-Oilwell Varco from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 11th. BMO Capital Markets upped their price objective on National-Oilwell Varco from $32.00 to $39.00 and gave the stock a “sell” rating in a research report on Monday, July 30th. Credit Suisse Group set a $43.00 price objective on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Monday, July 30th. Finally, Raymond James upped their price objective on National-Oilwell Varco from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, July 30th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $44.50.
About National-Oilwell Varco
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.
See Also: Return on Investment (ROI)
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