Koshinski Asset Management Inc. increased its stake in National-Oilwell Varco, Inc. (NYSE:NOV) by 91.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,678 shares of the oil and gas exploration company’s stock after acquiring an additional 7,014 shares during the quarter. Koshinski Asset Management Inc.’s holdings in National-Oilwell Varco were worth $529,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. IHT Wealth Management LLC grew its holdings in shares of National-Oilwell Varco by 1,923.1% in the 2nd quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock worth $112,000 after acquiring an additional 500 shares during the last quarter. Tiedemann Wealth Management LLC boosted its position in shares of National-Oilwell Varco by 77.8% in the third quarter. Tiedemann Wealth Management LLC now owns 11,668 shares of the oil and gas exploration company’s stock worth $194,000 after buying an additional 5,107 shares during the period. IBM Retirement Fund acquired a new stake in shares of National-Oilwell Varco in the third quarter worth $200,000. Wrapmanager Inc. acquired a new stake in shares of National-Oilwell Varco in the third quarter worth $202,000. Finally, Smith Salley & Associates acquired a new stake in shares of National-Oilwell Varco in the third quarter worth $214,000. Institutional investors and hedge funds own 92.44% of the company’s stock.
Shares of National-Oilwell Varco, Inc. (NOV) opened at $37.98 on Friday. National-Oilwell Varco, Inc. has a 12-month low of $29.90 and a 12-month high of $41.90. 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, beating analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations 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 business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.34) earnings per share. sell-side analysts predict that National-Oilwell Varco, Inc. will post -0.4 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Friday, December 8th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, December 7th. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. National-Oilwell Varco’s payout ratio is -8.03%.
Several brokerages have recently commented on NOV. B. Riley reaffirmed a “buy” rating on shares of National-Oilwell Varco in a research report on Wednesday, November 1st. Cowen set a $33.00 target price on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Thursday, January 11th. Susquehanna Bancshares set a $35.00 target price on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Friday, January 12th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $36.00 target price on shares of National-Oilwell Varco in a research report on Tuesday, September 26th. Finally, Jefferies Group set a $35.00 target price on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Thursday, January 4th. Four analysts have rated the stock with a sell rating, twenty have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $37.96.
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National-Oilwell Varco 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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