Dodge & Cox Buys New Position in National-Oilwell Varco, Inc. (NOV)

Dodge & Cox acquired a new position in National-Oilwell Varco, Inc. (NYSE:NOV) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 31,293,984 shares of the oil and gas exploration company’s stock, valued at approximately $1,171,647,000. Dodge & Cox owned approximately 0.08% of National-Oilwell Varco at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan increased its position in shares of National-Oilwell Varco by 0.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 11,950 shares of the oil and gas exploration company’s stock worth $439,000 after buying an additional 50 shares during the period. Wesbanco Bank Inc. increased its position in shares of National-Oilwell Varco by 0.7% in the fourth quarter. Wesbanco Bank Inc. now owns 6,725 shares of the oil and gas exploration company’s stock worth $251,000 after buying an additional 50 shares during the period. Cim Investment Mangement Inc. increased its position in shares of National-Oilwell Varco by 1.2% in the fourth quarter. Cim Investment Mangement Inc. now owns 8,647 shares of the oil and gas exploration company’s stock worth $324,000 after buying an additional 102 shares during the period. Dorsey & Whitney Trust CO LLC increased its position in shares of National-Oilwell Varco by 2.8% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 6,503 shares of the oil and gas exploration company’s stock worth $238,000 after buying an additional 178 shares during the period. Finally, Point View Wealth Management Inc. increased its position in shares of National-Oilwell Varco by 1.8% in the third quarter. Point View Wealth Management Inc. now owns 10,782 shares of the oil and gas exploration company’s stock worth $396,000 after buying an additional 186 shares during the period. Institutional investors and hedge funds own 94.98% of the company’s stock.

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

National-Oilwell Varco, Inc. (NYSE:NOV) traded down 0.48% during mid-day trading on Monday, hitting $39.12. 909,627 shares of the stock traded hands. The firm’s 50-day moving average is $39.19 and its 200-day moving average is $36.95. National-Oilwell Varco, Inc. has a 12-month low of $26.86 and a 12-month high of $43.63. The company’s market cap is $14.82 billion.

National-Oilwell Varco (NYSE:NOV) last issued its earnings results on Monday, February 6th. The oil and gas exploration company reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.14. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.62 billion. National-Oilwell Varco had a negative net margin of 33.26% and a negative return on equity of 2.08%. The business’s quarterly revenue was down 37.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 earnings per share. Equities research analysts expect that National-Oilwell Varco, Inc. will post ($0.36) EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Wednesday, March 15th. National-Oilwell Varco’s payout ratio is -3.12%.

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A number of brokerages have weighed in on NOV. Zacks Investment Research upgraded shares of National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Friday, February 10th. Vetr upgraded shares of National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $42.13 price objective for the company in a research report on Monday, February 6th. Jefferies Group LLC reiterated a “hold” rating and issued a $36.00 price objective on shares of National-Oilwell Varco in a research report on Wednesday, February 8th. Scotiabank reiterated a “hold” rating and issued a $37.00 price objective on shares of National-Oilwell Varco in a research report on Wednesday, February 8th. Finally, Loop Capital began coverage on shares of National-Oilwell Varco in a research report on Tuesday, February 7th. They set a “hold” rating for the company. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $37.85.

In related news, VP Scott K. Duff sold 37,369 shares of the firm’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $39.87, for a total value of $1,489,902.03. Following the completion of the sale, the vice president now owns 30,559 shares in the company, valued at $1,218,387.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott K. Duff sold 4,785 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $40.79, for a total transaction of $195,180.15. Following the completion of the sale, the vice president now owns 25,121 shares of the company’s stock, valued at approximately $1,024,685.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,979 shares of company stock worth $3,751,823. Insiders own 0.17% of the company’s stock.

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.

5 Day Chart for NYSE:NOV

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