Academy Capital Management Inc. TX lowered its stake in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 1.1% during the second quarter, Holdings Channel reports. The firm owned 546,234 shares of the oil and gas exploration company’s stock after selling 6,071 shares during the period. National Oilwell Varco comprises approximately 5.0% of Academy Capital Management Inc. TX’s portfolio, making the stock its 5th largest position. Academy Capital Management Inc. TX’s holdings in National Oilwell Varco were worth $17,992,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in 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 period. First Eagle Investment Management LLC increased its stake in 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 period. BlackRock Inc. increased its stake in 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 period. Harris Associates L P increased its stake in 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 period. Finally, Clearbridge Investments LLC increased its stake in 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 period. 91.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of National Oilwell Varco, Inc. (NYSE NOV) traded down 1.62% during mid-day trading on Friday, reaching $33.45. The company’s stock had a trading volume of 3,166,764 shares. National Oilwell Varco, Inc. has a 12-month low of $29.79 and a 12-month high of $43.63. The stock’s market capitalization is $12.71 billion. The company’s 50-day moving average price is $33.03 and its 200-day moving average price is $36.41.
National Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Wednesday, April 26th. The oil and gas exploration company reported ($0.17) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.03. National Oilwell Varco had a negative return on equity of 2.44% and a negative net margin of 35.50%. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the company posted ($0.06) EPS. The company’s revenue was down 20.5% compared to the same quarter last year. On average, equities research analysts forecast that National Oilwell Varco, Inc. will post ($0.40) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 16th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend was Wednesday, June 14th. National Oilwell Varco’s payout ratio is -3.12%.
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NOV has been the topic of several recent research reports. BMO Capital Markets reaffirmed a “sell” rating and set a $30.00 price objective on shares of National Oilwell Varco in a report on Thursday, June 22nd. Vetr downgraded shares of National Oilwell Varco from a “strong-buy” rating to a “buy” rating and set a $44.47 price objective on the stock. in a report on Wednesday, March 29th. Piper Jaffray Companies raised shares of National Oilwell Varco from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $36.00 to $37.00 in a report on Tuesday, June 20th. Jefferies Group LLC set a $38.00 price objective on shares of National Oilwell Varco and gave the company a “hold” rating in a report on Thursday, April 27th. Finally, ValuEngine downgraded shares of National Oilwell Varco from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Four analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $39.35.
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.
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