Mizuho Asset Management Co. Ltd. raised its stake in shares of National Oilwell Varco (NYSE:NOV) by 64.2% during the second quarter, Holdings Channel reports. The institutional investor owned 5,371 shares of the oil and gas exploration company’s stock after buying an additional 2,100 shares during the period. Mizuho Asset Management Co. Ltd.’s holdings in National Oilwell Varco were worth $181,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of National Oilwell Varco by 21.7% in the second quarter. Vanguard Group Inc. now owns 35,511,716 shares of the oil and gas exploration company’s stock valued at $1,194,969,000 after buying an additional 6,330,248 shares in the last quarter. Brown Advisory Inc. boosted its stake in National Oilwell Varco by 1.4% in the second quarter. Brown Advisory Inc. now owns 76,357 shares of the oil and gas exploration company’s stock valued at $2,571,000 after buying an additional 1,085 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co boosted its stake in National Oilwell Varco by 27.5% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,100 shares of the oil and gas exploration company’s stock valued at $172,000 after buying an additional 1,100 shares during the period. Prudential Financial Inc. boosted its stake in National Oilwell Varco by 11.4% in the second quarter. Prudential Financial Inc. now owns 1,177,240 shares of the oil and gas exploration company’s stock valued at $39,615,000 after buying an additional 120,238 shares during the period. Finally, Private Advisor Group LLC boosted its stake in National Oilwell Varco by 28.3% in the second quarter. Private Advisor Group LLC now owns 17,265 shares of the oil and gas exploration company’s stock valued at $543,000 after buying an additional 3,810 shares during the period. 94.11% of the stock is owned by institutional investors.
Shares of National Oilwell Varco (NYSE:NOV) traded up 1.57% during mid-day trading on Thursday, hitting $34.22. 142,857 shares of the company traded hands. National Oilwell Varco has a 52-week low of $25.74 and a 52-week high of $42.62. The firm’s market cap is $12.92 billion. The firm has a 50-day moving average price of $33.95 and a 200 day moving average price of $32.67.
National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Thursday, July 28th. The oil and gas exploration company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.80 billion. National Oilwell Varco had a negative net margin of 17.14% and a positive return on equity of 1.83%. The firm’s quarterly revenue was down 55.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share. Equities research analysts anticipate that National Oilwell Varco will post ($0.92) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.59%. National Oilwell Varco’s dividend payout ratio (DPR) is -4.40%.
Several analysts have recently weighed in on the stock. Credit Suisse Group AG reissued a “sell” rating on shares of National Oilwell Varco in a research note on Thursday, June 2nd. Vetr cut shares of National Oilwell Varco from a “strong-buy” rating to a “buy” rating and set a $35.67 price target for the company. in a research note on Wednesday, May 25th. Jefferies Group reissued a “hold” rating and issued a $32.00 price target on shares of National Oilwell Varco in a research note on Monday, August 1st. Howard Weil increased their price target on shares of National Oilwell Varco from $32.00 to $37.00 and gave the company a “sector perform” rating in a research note on Wednesday, June 15th. Finally, Zacks Investment Research raised shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Monday, June 13th. Four analysts have rated the stock with a sell rating, twenty have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $34.98.
In other National Oilwell Varco news, VP Scott K. Duff sold 3,181 shares of the stock in a transaction on Monday, August 8th. The shares were sold at an average price of $33.40, for a total transaction of $106,245.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.17% of the company’s stock.
National Oilwell Varco Company Profile
National Oilwell Varco, Inc (NOV) is engaged in providing design, manufacture and sale of equipment and components used in oil and gas drilling, completion and production operations. The Company operates through four segments: Rig Systems, which makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore; Rig Aftermarket, which provides aftermarket products and services to support land and offshore rigs, and drilling rig components manufactured by the Company’s Rig Systems segment; Wellbore Technologies, which sells and rents solids control equipment, and provides solids control, waste management and drilling fluids services, and Completion & Production Solutions, which provides technologies for well completions and oil and gas production.
Want to see what other hedge funds are holding NOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Oilwell Varco (NYSE:NOV).
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.