National Oilwell Varco, Inc. (NOV) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in National Oilwell Varco, Inc. (NYSE:NOV) by 0.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 759,909 shares of the oil and gas exploration company’s stock after selling 5,345 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.20% of National Oilwell Varco worth $27,152,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. IHT Wealth Management LLC raised its holdings in National Oilwell Varco by 1,923.1% during the 2nd quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock worth $112,000 after purchasing an additional 500 shares during the last quarter. IBM Retirement Fund bought a new stake in National Oilwell Varco during the 3rd quarter worth about $200,000. Wrapmanager Inc. bought a new stake in National Oilwell Varco during the 3rd quarter worth about $202,000. Smith Salley & Associates bought a new stake in National Oilwell Varco during the 3rd quarter worth about $214,000. Finally, Lakeview Capital Partners LLC raised its holdings in National Oilwell Varco by 2.6% during the 2nd quarter. Lakeview Capital Partners LLC now owns 6,194 shares of the oil and gas exploration company’s stock worth $204,000 after purchasing an additional 155 shares during the last quarter. 92.56% of the stock is owned by institutional investors and hedge funds.

National Oilwell Varco, Inc. (NYSE:NOV) traded down $0.81 during trading on Wednesday, hitting $33.17. The stock had a trading volume of 2,316,200 shares, compared to its average volume of 3,300,273. National Oilwell Varco, Inc. has a 52 week low of $29.90 and a 52 week high of $43.63. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.75 and a quick ratio of 1.62.

National Oilwell Varco (NYSE:NOV) last posted its earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. National Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the company earned ($0.34) EPS. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. equities analysts forecast that National Oilwell Varco, Inc. will post -0.41 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be given a $0.05 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.20 annualized dividend and a dividend yield of 0.60%. National Oilwell Varco’s dividend payout ratio is presently -8.03%.

Several analysts have weighed in on NOV shares. BidaskClub cut National Oilwell Varco from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. ValuEngine cut National Oilwell Varco from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Loop Capital raised 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, August 17th. FBR & Co reissued a “buy” rating and set a $42.00 price objective on shares of National Oilwell Varco in a report on Thursday, August 31st. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of National Oilwell Varco in a report on Friday, September 1st. Five research analysts have rated the stock with a sell rating, twenty have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $38.00.

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

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