National-Oilwell Varco, Inc. (NOV) Shares Bought by Chevy Chase Trust Holdings Inc.

Chevy Chase Trust Holdings Inc. raised its holdings in National-Oilwell Varco, Inc. (NYSE:NOV) by 1.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 481,830 shares of the oil and gas exploration company’s stock after purchasing an additional 5,641 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.13% of National-Oilwell Varco worth $17,216,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of National-Oilwell Varco by 2.5% during the second quarter. Vanguard Group Inc. now owns 38,794,232 shares of the oil and gas exploration company’s stock valued at $1,277,882,000 after buying an additional 930,849 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of National-Oilwell Varco by 2.1% during the third quarter. First Eagle Investment Management LLC now owns 27,068,594 shares of the oil and gas exploration company’s stock valued at $967,161,000 after buying an additional 563,589 shares during the period. BlackRock Inc. lifted its stake in shares of National-Oilwell Varco by 1.4% during the second quarter. BlackRock Inc. now owns 25,195,874 shares of the oil and gas exploration company’s stock valued at $829,954,000 after buying an additional 354,574 shares during the period. Harris Associates L P lifted its stake in shares of National-Oilwell Varco by 16.0% during the second quarter. Harris Associates L P now owns 18,574,753 shares of the oil and gas exploration company’s stock valued at $611,852,000 after buying an additional 2,557,484 shares during the period. Finally, FMR LLC lifted its stake in shares of National-Oilwell Varco by 6.4% during the second quarter. FMR LLC now owns 9,635,851 shares of the oil and gas exploration company’s stock valued at $317,405,000 after buying an additional 581,712 shares during the period. 92.56% of the stock is currently owned by institutional investors.

Several equities analysts recently issued reports on the stock. B. Riley reissued a “buy” rating on shares of National-Oilwell Varco in a research note on Wednesday, November 1st. Piper Jaffray Companies reissued a “buy” rating and set a $36.00 price objective on shares of National-Oilwell Varco in a research note on Tuesday, September 26th. ValuEngine downgraded shares of National-Oilwell Varco from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. J P Morgan Chase & Co reduced their price objective on shares of National-Oilwell Varco from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, October 30th. Finally, Royal Bank of Canada set a $37.00 price objective on shares of National-Oilwell Varco and gave the company a “hold” rating in a research note on Sunday, October 8th. Five investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $38.00.

Shares of National-Oilwell Varco, Inc. (NOV) traded up $0.67 during mid-day trading on Tuesday, reaching $33.29. 2,081,700 shares of the company traded hands, compared to its average volume of 3,284,994. National-Oilwell Varco, Inc. has a 1 year low of $29.90 and a 1 year high of $43.63. The company has a quick ratio of 1.62, a current ratio of 2.75 and a debt-to-equity ratio of 0.19.

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 (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. National-Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the business earned ($0.34) earnings per share. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. research analysts anticipate 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. Stockholders of record on Friday, December 8th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Thursday, December 7th. National-Oilwell Varco’s payout ratio is currently -8.03%.

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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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