Gateway Investment Advisers LLC decreased its stake in National-Oilwell Varco, Inc. (NYSE:NOV) by 10.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,744 shares of the oil and gas exploration company’s stock after selling 2,156 shares during the period. Gateway Investment Advisers LLC’s holdings in National-Oilwell Varco were worth $417,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of NOV. Pzena Investment Management LLC lifted its stake in National-Oilwell Varco by 31.3% in the 1st quarter. Pzena Investment Management LLC now owns 16,608,676 shares of the oil and gas exploration company’s stock valued at $442,455,000 after purchasing an additional 3,957,104 shares during the last quarter. Norges Bank bought a new position in National-Oilwell Varco in the 4th quarter valued at approximately $74,143,000. American Century Companies Inc. lifted its stake in National-Oilwell Varco by 133.5% in the 4th quarter. American Century Companies Inc. now owns 3,110,320 shares of the oil and gas exploration company’s stock valued at $79,935,000 after purchasing an additional 1,777,998 shares during the last quarter. Deutsche Bank AG lifted its stake in National-Oilwell Varco by 118.0% in the 4th quarter. Deutsche Bank AG now owns 2,950,870 shares of the oil and gas exploration company’s stock valued at $75,831,000 after purchasing an additional 1,597,427 shares during the last quarter. Finally, Marathon Asset Management LLP lifted its stake in National-Oilwell Varco by 94.5% in the 2nd quarter. Marathon Asset Management LLP now owns 2,151,888 shares of the oil and gas exploration company’s stock valued at $47,834,000 after purchasing an additional 1,045,513 shares during the last quarter. 93.05% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Raymond James reissued an “average” rating and issued a $23.00 price objective on shares of in a research note on Monday, April 15th. ValuEngine downgraded shares of Verso from a “hold” rating to a “sell” rating in a research note on Thursday, May 23rd. AltaCorp Capital reissued a “sector perform” rating on shares of STEP Energy Services in a research note on Thursday, June 20th. Finally, Piper Jaffray Companies set a $40.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a research note on Monday, July 1st. Seven analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $35.88.
NYSE NOV traded up $0.47 during mid-day trading on Tuesday, reaching $21.72. 355,699 shares of the stock were exchanged, compared to its average volume of 3,627,078. National-Oilwell Varco, Inc. has a one year low of $19.57 and a one year high of $49.08. The company has a 50 day moving average of $21.31. The stock has a market cap of $8.10 billion, a PE ratio of -271.63 and a beta of 1.28. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.81 and a current ratio of 3.30.
National-Oilwell Varco (NYSE:NOV) last announced its earnings results on Thursday, April 25th. The oil and gas exploration company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12). National-Oilwell Varco had a negative return on equity of 0.29% and a negative net margin of 0.47%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the prior year, the business earned ($0.18) EPS. National-Oilwell Varco’s quarterly revenue was up 8.1% on a year-over-year basis. Sell-side analysts expect that National-Oilwell Varco, Inc. will post -0.24 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Thursday, June 13th. National-Oilwell Varco’s dividend payout ratio is presently -250.00%.
About National-Oilwell Varco
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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