Thompson Rubinstein Investment Management Inc. OR lowered its position in shares of National-Oilwell Varco, Inc. (NYSE:NOV) by 1.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 59,125 shares of the oil and gas exploration company’s stock after selling 695 shares during the period. Thompson Rubinstein Investment Management Inc. OR’s holdings in National-Oilwell Varco were worth $1,575,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. DekaBank Deutsche Girozentrale lifted its position in shares of National-Oilwell Varco by 10.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 41,610 shares of the oil and gas exploration company’s stock worth $2,029,000 after acquiring an additional 4,074 shares in the last quarter. Korea Investment CORP grew its stake in shares of National-Oilwell Varco by 166.2% during the third quarter. Korea Investment CORP now owns 103,815 shares of the oil and gas exploration company’s stock valued at $4,472,000 after buying an additional 64,812 shares during the last quarter. Virtu Financial LLC bought a new position in shares of National-Oilwell Varco during the third quarter valued at about $347,000. AMP Capital Investors Ltd boosted its holdings in shares of National-Oilwell Varco by 93.2% during the third quarter. AMP Capital Investors Ltd now owns 200,649 shares of the oil and gas exploration company’s stock worth $8,636,000 after purchasing an additional 96,809 shares during the period. Finally, Standard Life Aberdeen plc boosted its holdings in shares of National-Oilwell Varco by 5.2% during the third quarter. Standard Life Aberdeen plc now owns 183,402 shares of the oil and gas exploration company’s stock worth $7,901,000 after purchasing an additional 9,124 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.
Several research firms have recently issued reports on NOV. Barclays reiterated a “hold” rating and set a $35.00 target price on shares of National-Oilwell Varco in a report on Friday, January 18th. 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. Gabelli reiterated a “buy” rating on shares of National-Oilwell Varco in a research note on Monday, February 11th. Seaport Global Securities restated a “sell” rating and issued a $24.00 target price on shares of National-Oilwell Varco in a report on Monday, February 11th. Finally, SunTrust Banks cut their price target on shares of National-Oilwell Varco to $29.00 and set a “hold” rating on the stock in a report on Monday, February 11th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $38.00.
Shares of NOV stock opened at $27.40 on Friday. The company has a quick ratio of 1.83, a current ratio of 3.11 and a debt-to-equity ratio of 0.19. National-Oilwell Varco, Inc. has a fifty-two week low of $24.27 and a fifty-two week high of $49.08. The company has a market capitalization of $10.57 billion, a P/E ratio of -342.50 and a beta of 1.22.
National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Thursday, April 25th. The oil and gas exploration company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.12). National-Oilwell Varco had a negative return on equity of 0.22% and a negative net margin of 0.37%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the firm earned ($0.18) EPS. The company’s revenue was up 8.1% on a year-over-year basis. As a group, research analysts predict that National-Oilwell Varco, Inc. will post -0.03 EPS for the current year.
The company 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. The ex-dividend date was Thursday, March 14th. This represents a $0.20 annualized dividend and a yield of 0.73%. National-Oilwell Varco’s dividend payout ratio is currently -250.00%.
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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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