Stratos Wealth Partners LTD. increased its stake in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 10.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 12,572 shares of the oil and gas exploration company’s stock after buying an additional 1,164 shares during the period. Stratos Wealth Partners LTD.’s holdings in National Oilwell Varco were worth $414,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. FNY Partners Fund LP acquired a new stake in National Oilwell Varco during the first quarter valued at approximately $120,000. Quadrant Capital Group LLC raised its stake in National Oilwell Varco by 6.8% in the first quarter. Quadrant Capital Group LLC now owns 3,214 shares of the oil and gas exploration company’s stock valued at $122,000 after buying an additional 205 shares during the last quarter. Exane Derivatives raised its stake in National Oilwell Varco by 113.8% in the second quarter. Exane Derivatives now owns 3,985 shares of the oil and gas exploration company’s stock valued at $131,000 after buying an additional 2,121 shares during the last quarter. WMS Partners LLC acquired a new stake in National Oilwell Varco during the first quarter valued at approximately $200,000. Finally, Murphy Pohlad Asset Management LLC acquired a new stake in National Oilwell Varco during the first quarter valued at approximately $203,000. Institutional investors and hedge funds own 91.63% of the company’s stock.
National Oilwell Varco, Inc. (NOV) traded up 0.96% on Friday, hitting $30.38. The stock had a trading volume of 3,656,682 shares. The company has a 50-day moving average of $32.47 and a 200 day moving average of $35.46. The company’s market cap is $11.55 billion. National Oilwell Varco, Inc. has a 12 month low of $29.90 and a 12 month high of $43.63.
National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.14). National Oilwell Varco had a negative return on equity of 2.12% and a negative net margin of 33.24%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the previous year, the business earned ($0.30) earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts predict that National Oilwell Varco, Inc. will post ($0.39) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Thursday, September 14th. National Oilwell Varco’s payout ratio is -3.31%.
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Several equities research analysts have recently commented on NOV shares. BMO Capital Markets reaffirmed a “sell” rating and set a $30.00 price target on shares of National Oilwell Varco in a research report on Thursday, June 22nd. BidaskClub lowered shares of National Oilwell Varco from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Credit Suisse Group set a $35.00 price target on shares of National Oilwell Varco and gave the company a “hold” rating in a research report on Saturday, July 29th. Barclays PLC reissued a “hold” rating and issued a $38.00 target price on shares of National Oilwell Varco in a report on Wednesday, August 2nd. Finally, SunTrust Banks, Inc. lowered shares of National Oilwell Varco from a “hold” rating to a “sell” rating and increased their target price for the stock from $29.00 to $50.00 in a report on Monday, August 7th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $38.63.
About National Oilwell Varco
National Oilwell Varco, Inc is an oilfield equipment manufacturer and technology provider. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies and Completion & Production Solutions. The Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore.
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