National Oilwell Varco, Inc. (NYSE:NOV) Shares Sold by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund decreased its stake in National Oilwell Varco, Inc. (NYSE:NOV) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 96,172 shares of the oil and gas exploration company’s stock after selling 2,200 shares during the period. Oregon Public Employees Retirement Fund’s holdings in National Oilwell Varco were worth $3,168,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Moody Lynn & Lieberson LLC increased its stake in National Oilwell Varco by 0.4% in the first quarter. Moody Lynn & Lieberson LLC now owns 6,684 shares of the oil and gas exploration company’s stock valued at $268,000 after buying an additional 29 shares during the period. Cleararc Capital Inc. increased its stake in National Oilwell Varco by 0.7% in the first quarter. Cleararc Capital Inc. now owns 9,243 shares of the oil and gas exploration company’s stock valued at $371,000 after buying an additional 65 shares during the period. First Manhattan Co. increased its stake in National Oilwell Varco by 0.3% in the first quarter. First Manhattan Co. now owns 32,934 shares of the oil and gas exploration company’s stock valued at $1,210,000 after buying an additional 98 shares during the period. Sandy Spring Bank increased its stake in National Oilwell Varco by 0.4% in the first quarter. Sandy Spring Bank now owns 32,934 shares of the oil and gas exploration company’s stock valued at $1,320,000 after buying an additional 115 shares during the period. Finally, ProShare Advisors LLC increased its stake in National Oilwell Varco by 0.3% in the first quarter. ProShare Advisors LLC now owns 63,670 shares of the oil and gas exploration company’s stock valued at $2,553,000 after buying an additional 197 shares during the period. 91.63% of the stock is owned by institutional investors.

Shares of National Oilwell Varco, Inc. (NYSE:NOV) traded up 0.96% on Friday, hitting $30.38. The stock had a trading volume of 3,656,682 shares. The firm’s 50-day moving average is $32.47 and its 200-day moving average is $35.46. National Oilwell Varco, Inc. has a one year low of $29.90 and a one year high of $43.63. The company’s market cap is $11.55 billion.

National Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, hitting the consensus estimate of ($0.14). The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.78 billion. National Oilwell Varco had a negative return on equity of 2.12% and a negative net margin of 33.24%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company posted ($0.30) EPS. On average, analysts expect that National Oilwell Varco, Inc. will post ($0.39) EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid 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 dividend payout ratio is presently -3.31%.

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Several research firms recently weighed in on NOV. Loop Capital upgraded National Oilwell Varco from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Thursday. ValuEngine downgraded National Oilwell Varco from a “hold” rating to a “sell” rating in a report on Thursday. BidaskClub downgraded National Oilwell Varco from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. SunTrust Banks, Inc. downgraded National Oilwell Varco from a “hold” rating to a “sell” rating and lifted their price objective for the company from $29.00 to $50.00 in a report on Monday, August 7th. They noted that the move was a valuation call. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $36.00 price objective on shares of National Oilwell Varco in a report on Thursday, August 3rd. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $39.09.

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.

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

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