Ninepoint Partners LP bought a new position in National Oilwell Varco, Inc. (NYSE:NOV) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,500 shares of the oil and gas exploration company’s stock, valued at approximately $411,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. IHT Wealth Management LLC boosted its position in shares of National Oilwell Varco by 1,923.1% in the second quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock worth $112,000 after buying an additional 500 shares during the period. Exane Derivatives boosted its position in shares of 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 worth $131,000 after buying an additional 2,121 shares during the period. Chicago Partners Investment Group LLC purchased a new stake in shares of National Oilwell Varco in the second quarter worth about $194,000. IBM Retirement Fund purchased a new stake in shares of National Oilwell Varco in the third quarter worth about $200,000. Finally, Wrapmanager Inc. purchased a new stake in shares of National Oilwell Varco in the third quarter worth about $202,000. 90.16% of the stock is owned by institutional investors.
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Shares of National Oilwell Varco, Inc. (NOV) traded down $0.43 during mid-day trading on Friday, hitting $31.51. The stock had a trading volume of 3,152,400 shares, compared to its average volume of 3,327,059. National Oilwell Varco, Inc. has a one year low of $29.90 and a one year high of $43.63. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.62 and a current ratio of 2.75.
National Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. National Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. The company’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company posted ($0.34) EPS. research analysts expect that National Oilwell Varco, Inc. will post -0.41 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 8th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.63%. National Oilwell Varco’s dividend payout ratio is presently -8.06%.
A number of brokerages recently commented on NOV. ValuEngine downgraded National Oilwell Varco from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. B. Riley reissued a “buy” rating on shares of National Oilwell Varco in a report on Wednesday, November 1st. Seaport Global Securities reissued a “sell” rating on shares of National Oilwell Varco in a report on Friday, July 28th. UBS AG reissued a “neutral” rating and issued a $37.00 price target (down previously from $38.00) on shares of National Oilwell Varco in a report on Monday, July 31st. Finally, Cowen and Company reduced their price target on National Oilwell Varco from $37.00 to $30.00 and set a “market perform” rating for the company in a report on Wednesday, August 2nd. Six investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. National Oilwell Varco presently has an average rating of “Hold” and an average target price of $37.83.
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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