National Oilwell Varco, Inc. (NYSE:NOV) Stake Reduced by Rockland Trust Co.

Rockland Trust Co. reduced its stake in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 91.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,288 shares of the oil and gas exploration company’s stock after selling 199,830 shares during the period. Rockland Trust Co.’s holdings in National Oilwell Varco were worth $635,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of National Oilwell Varco by 1.1% in the first quarter. Vanguard Group Inc. now owns 37,863,383 shares of the oil and gas exploration company’s stock valued at $1,517,944,000 after buying an additional 401,671 shares during the last quarter. First Eagle Investment Management LLC raised its stake in shares of National Oilwell Varco by 2.8% in the first quarter. First Eagle Investment Management LLC now owns 26,052,857 shares of the oil and gas exploration company’s stock valued at $1,044,459,000 after buying an additional 721,441 shares during the last quarter. BlackRock Inc. raised its stake in shares of National Oilwell Varco by 3,189.2% in the first quarter. BlackRock Inc. now owns 24,841,300 shares of the oil and gas exploration company’s stock valued at $995,890,000 after buying an additional 24,086,060 shares during the last quarter. Harris Associates L P raised its stake in shares of National Oilwell Varco by 7.2% in the first quarter. Harris Associates L P now owns 16,017,269 shares of the oil and gas exploration company’s stock valued at $642,133,000 after buying an additional 1,080,775 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of National Oilwell Varco by 2.8% in the first quarter. Clearbridge Investments LLC now owns 13,209,045 shares of the oil and gas exploration company’s stock valued at $529,551,000 after buying an additional 359,809 shares during the last quarter. 91.63% of the stock is currently owned by institutional investors.

Shares of National Oilwell Varco, Inc. (NYSE NOV) traded up 0.96% during mid-day trading on Friday, hitting $30.38. The company had a trading volume of 3,656,682 shares. The stock’s market cap is $11.55 billion. The stock’s 50-day moving average is $32.47 and its 200-day moving average is $35.46. National Oilwell Varco, Inc. has a 52-week low of $29.90 and a 52-week high of $43.63.

National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.14). The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.30) earnings per share. Equities analysts forecast that National Oilwell Varco, Inc. will post ($0.39) earnings per share for the current 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 paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.66%. National Oilwell Varco’s dividend payout ratio (DPR) is -3.31%.

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A number of brokerages have recently issued reports on NOV. ValuEngine lowered National Oilwell Varco from a “hold” rating to a “sell” rating in a research note on Thursday. Piper Jaffray Companies raised National Oilwell Varco from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $36.00 to $37.00 in a research note on Tuesday, June 20th. Seaport Global Securities reaffirmed a “sell” rating on shares of National Oilwell Varco in a research note on Friday, July 28th. R. F. Lafferty reaffirmed a “hold” rating and issued a $33.00 price target (down from $38.00) on shares of National Oilwell Varco in a research note on Tuesday, August 1st. Finally, BidaskClub raised National Oilwell Varco from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. National Oilwell Varco has a consensus rating of “Hold” and an average price target of $39.09.

National Oilwell Varco Company Profile

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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