HPM Partners LLC trimmed its position in shares of National-Oilwell Varco, Inc. (NYSE:NOV) by 36.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,241 shares of the oil and gas exploration company’s stock after selling 12,320 shares during the period. HPM Partners LLC’s holdings in National-Oilwell Varco were worth $765,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in NOV. BlackRock Inc. raised its position in National-Oilwell Varco by 0.3% in the fourth quarter. BlackRock Inc. now owns 25,257,983 shares of the oil and gas exploration company’s stock worth $909,792,000 after acquiring an additional 78,663 shares during the period. Parnassus Investments CA raised its position in shares of National-Oilwell Varco by 10.1% during the 4th quarter. Parnassus Investments CA now owns 6,929,938 shares of the oil and gas exploration company’s stock valued at $249,616,000 after purchasing an additional 637,925 shares during the period. American Century Companies Inc. raised its position in shares of National-Oilwell Varco by 4.2% during the 4th quarter. American Century Companies Inc. now owns 6,390,274 shares of the oil and gas exploration company’s stock valued at $230,178,000 after purchasing an additional 255,563 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of National-Oilwell Varco during the 3rd quarter valued at $226,421,000. Finally, Wells Fargo & Company MN raised its position in shares of National-Oilwell Varco by 17.1% during the 3rd quarter. Wells Fargo & Company MN now owns 5,248,794 shares of the oil and gas exploration company’s stock valued at $187,541,000 after purchasing an additional 765,634 shares during the period. 93.57% of the stock is owned by institutional investors.
In other news, VP Scott K. Duff sold 7,421 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $35.66, for a total value of $264,632.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.58% of the stock is owned by corporate insiders.
A number of brokerages have issued reports on NOV. Royal Bank of Canada reiterated a “hold” rating and issued a $40.00 price target on shares of National-Oilwell Varco in a report on Friday, January 19th. TheStreet upgraded shares of National-Oilwell Varco from a “d+” rating to a “c” rating in a report on Tuesday, February 6th. Cowen set a $33.00 price objective on shares of National-Oilwell Varco and gave the stock a “hold” rating in a research note on Thursday, January 11th. Piper Jaffray Companies reissued a “buy” rating and issued a $34.00 price objective on shares of National-Oilwell Varco in a research note on Thursday, December 21st. Finally, Zacks Investment Research raised shares of National-Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Tuesday, March 13th. Five research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $37.55.
Shares of NOV stock traded up $1.17 during midday trading on Wednesday, reaching $37.96. 1,714,815 shares of the company were exchanged, compared to its average volume of 3,248,060. National-Oilwell Varco, Inc. has a 12-month low of $29.90 and a 12-month high of $40.90. The stock has a market capitalization of $13,825.83, a P/E ratio of -60.40, a PEG ratio of 23.62 and a beta of 0.88. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.07 and a quick ratio of 1.79.
National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.04). The company had revenue of $1.97 billion during the quarter. National-Oilwell Varco had a negative net margin of 3.24% and a negative return on equity of 1.10%. During the same quarter in the prior year, the company posted ($0.15) earnings per share. equities analysts predict that National-Oilwell Varco, Inc. will post 0.26 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Thursday, March 15th. National-Oilwell Varco’s dividend payout ratio (DPR) is -31.75%.
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.
Receive News & Ratings for National-Oilwell Varco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National-Oilwell Varco and related companies with MarketBeat.com's FREE daily email newsletter.