National-Oilwell Varco, Inc. (NOV) Position Raised by Norinchukin Bank The

Norinchukin Bank The boosted its stake in National-Oilwell Varco, Inc. (NYSE:NOV) by 7.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,611 shares of the oil and gas exploration company’s stock after buying an additional 1,699 shares during the period. Norinchukin Bank The’s holdings in National-Oilwell Varco were worth $987,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NOV. AMP Capital Investors Ltd boosted its stake in National-Oilwell Varco by 2.5% in the third quarter. AMP Capital Investors Ltd now owns 107,885 shares of the oil and gas exploration company’s stock valued at $3,976,000 after buying an additional 2,600 shares in the last quarter. Pacer Advisors Inc. boosted its stake in National-Oilwell Varco by 6.9% in the third quarter. Pacer Advisors Inc. now owns 7,179 shares of the oil and gas exploration company’s stock valued at $264,000 after buying an additional 461 shares in the last quarter. Parnassus Investments CA boosted its stake in National-Oilwell Varco by 20.2% in the third quarter. Parnassus Investments CA now owns 14,062,198 shares of the oil and gas exploration company’s stock valued at $516,645,000 after buying an additional 2,366,764 shares in the last quarter. Quadrature Capital Ltd boosted its stake in National-Oilwell Varco by 90.9% in the third quarter. Quadrature Capital Ltd now owns 178,482 shares of the oil and gas exploration company’s stock valued at $6,554,000 after buying an additional 85,000 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in National-Oilwell Varco during the third quarter valued at about $1,681,000. 94.98% of the stock is currently owned by institutional investors.

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

Shares of National-Oilwell Varco, Inc. (NYSE:NOV) traded up 0.09% during mid-day trading on Friday, hitting $32.63. 1,108,508 shares of the company were exchanged. The stock’s market cap is $12.40 billion. The stock’s 50-day moving average price is $35.31 and its 200 day moving average price is $37.53. National-Oilwell Varco, Inc. has a 12-month low of $29.79 and a 12-month high of $43.63.

National-Oilwell Varco (NYSE:NOV) last announced its earnings results on Wednesday, April 26th. The oil and gas exploration company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.67 billion. National-Oilwell Varco had a negative return on equity of 2.08% and a negative net margin of 33.26%. The company’s revenue was down 20.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.06) earnings per share. On average, equities analysts anticipate that National-Oilwell Varco, Inc. will post ($0.40) EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.61%. National-Oilwell Varco’s payout ratio is currently -3.12%.

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Several research firms recently issued reports on NOV. Vetr raised shares of National-Oilwell Varco from a “buy” rating to a “strong-buy” rating and set a $45.50 target price on the stock in a research report on Monday, April 3rd. Zacks Investment Research raised shares of National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Friday, February 10th. Tudor Pickering began coverage on shares of National-Oilwell Varco in a research report on Thursday, March 23rd. They issued a “hold” rating on the stock. R. F. Lafferty began coverage on shares of National-Oilwell Varco in a research report on Thursday, April 6th. They issued a “hold” rating and a $39.00 target price on the stock. Finally, Scotiabank reissued a “hold” rating and issued a $37.00 target price on shares of National-Oilwell Varco in a research report on Wednesday, March 22nd. Four equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $38.74.

In other news, insider Joseph W. Rovig sold 49,825 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $41.48, for a total transaction of $2,066,741.00. Following the completion of the transaction, the insider now directly owns 91 shares in the company, valued at $3,774.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Scott K. Duff sold 4,785 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $40.79, for a total value of $195,180.15. Following the transaction, the vice president now owns 25,121 shares of the company’s stock, valued at $1,024,685.59. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.

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.

12 Month Chart for NYSE:NOV

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