Advisory Services Network LLC Decreases Position in National-Oilwell Varco, Inc. (NOV)

Advisory Services Network LLC lowered its holdings in National-Oilwell Varco, Inc. (NYSE:NOV) by 38.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,867 shares of the oil and gas exploration company’s stock after selling 13,034 shares during the period. Advisory Services Network LLC’s holdings in National-Oilwell Varco were worth $536,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. JOYN Advisors Inc. lifted its stake in National-Oilwell Varco by 166.2% in the fourth quarter. JOYN Advisors Inc. now owns 1,046 shares of the oil and gas exploration company’s stock valued at $27,000 after acquiring an additional 653 shares during the last quarter. Enlightenment Research LLC acquired a new stake in National-Oilwell Varco in the fourth quarter valued at $28,000. Oregon Public Employees Retirement Fund lifted its stake in National-Oilwell Varco by 2,438.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,065,034 shares of the oil and gas exploration company’s stock valued at $41,000 after acquiring an additional 1,023,079 shares during the last quarter. IMS Capital Management acquired a new stake in National-Oilwell Varco in the third quarter valued at $44,000. Finally, grace capital acquired a new stake in National-Oilwell Varco in the fourth quarter valued at $46,000. 93.47% of the stock is owned by institutional investors and hedge funds.

In other National-Oilwell Varco news, VP Scott K. Duff sold 15,125 shares of National-Oilwell Varco stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $28.02, for a total value of $423,802.50. Following the completion of the sale, the vice president now owns 54,098 shares in the company, valued at approximately $1,515,825.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is owned by insiders.

National-Oilwell Varco stock traded up $0.66 during midday trading on Monday, hitting $27.53. The company’s stock had a trading volume of 6,536,199 shares, compared to its average volume of 3,781,135. National-Oilwell Varco, Inc. has a 1-year low of $24.27 and a 1-year high of $49.08. The company has a quick ratio of 1.83, a current ratio of 3.11 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $11.25 billion, a price-to-earnings ratio of -344.13, a price-to-earnings-growth ratio of 25.81 and a beta of 1.22.

National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Wednesday, February 6th. The oil and gas exploration company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.05). National-Oilwell Varco had a negative return on equity of 0.22% and a negative net margin of 0.37%. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter last year, the firm earned ($0.04) EPS. National-Oilwell Varco’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, sell-side analysts anticipate that National-Oilwell Varco, Inc. will post 0.19 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Thursday, March 14th. National-Oilwell Varco’s dividend payout ratio (DPR) is -250.00%.

A number of analysts have commented on the stock. Raymond James cut their price target on shares of National-Oilwell Varco from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday. Barclays cut their target price on shares of National-Oilwell Varco from $32.00 to $28.00 and set an “equal weight” rating for the company in a research note on Monday. Cowen set a $23.00 target price on shares of National-Oilwell Varco and gave the stock a “hold” rating in a research note on Friday. Goldman Sachs Group initiated coverage on shares of National-Oilwell Varco in a research note on Sunday, March 10th. They set a “neutral” rating and a $33.00 target price for the company. Finally, Zacks Investment Research upgraded shares of National-Oilwell Varco from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 12th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and eleven have issued a buy rating to the company’s stock. National-Oilwell Varco currently has an average rating of “Hold” and a consensus price target of $38.21.

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

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