State of Alaska Department of Revenue Buys 2,570 Shares of National Oilwell Varco, Inc. (NYSE:NOV)

State of Alaska Department of Revenue increased its stake in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 23.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,638 shares of the oil and gas exploration company’s stock after buying an additional 2,570 shares during the period. State of Alaska Department of Revenue’s holdings in National Oilwell Varco were worth $449,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its position in shares of National Oilwell Varco by 98.0% in the fourth quarter. AQR Capital Management LLC now owns 18,411 shares of the oil and gas exploration company’s stock valued at $689,000 after buying an additional 9,113 shares during the period. Thrivent Financial for Lutherans increased its position in shares of National Oilwell Varco by 5.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 13,120 shares of the oil and gas exploration company’s stock valued at $491,000 after buying an additional 724 shares during the period. Becker Capital Management Inc. increased its position in shares of National Oilwell Varco by 29.9% in the fourth quarter. Becker Capital Management Inc. now owns 791,272 shares of the oil and gas exploration company’s stock valued at $29,625,000 after buying an additional 182,005 shares during the period. Teachers Advisors LLC increased its position in shares of National Oilwell Varco by 1.8% in the fourth quarter. Teachers Advisors LLC now owns 755,987 shares of the oil and gas exploration company’s stock valued at $28,304,000 after buying an additional 13,547 shares during the period. Finally, Kentucky Retirement Systems acquired a new position in shares of National Oilwell Varco during the fourth quarter valued at approximately $1,026,000. 91.63% of the stock is currently owned by hedge funds and other institutional investors.

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

National Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.14). The company 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%. National Oilwell Varco’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.30) EPS. Analysts predict that National Oilwell Varco, Inc. will post ($0.39) earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Thursday, September 14th. National Oilwell Varco’s dividend payout ratio (DPR) is -3.31%.

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Several equities analysts have commented on the company. R. F. Lafferty reaffirmed a “hold” rating and issued a $33.00 price objective (down previously from $38.00) on shares of National Oilwell Varco in a research report on Tuesday, August 1st. ValuEngine downgraded National Oilwell Varco from a “hold” rating to a “sell” rating in a research report on Thursday. BidaskClub downgraded National Oilwell Varco from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Seaport Global Securities reaffirmed a “sell” rating on shares of National Oilwell Varco in a research report on Friday, July 28th. Finally, Zacks Investment Research raised National Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. National Oilwell Varco presently has a consensus 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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