Louisiana State Employees Retirement System lowered its position in National Oilwell Varco (NYSE:NOV) by 1.6% during the second quarter, Holdings Channel reports. The firm owned 24,700 shares of the oil and gas exploration company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in National Oilwell Varco were worth $831,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of NOV. Huntington Asset Advisors Inc. acquired a new stake in National Oilwell Varco during the first quarter worth about $174,000. Meeder Asset Management Inc. acquired a new stake in National Oilwell Varco during the first quarter worth about $193,000. Jolley Asset Management LLC increased its stake in National Oilwell Varco by 22.0% in the second quarter. Jolley Asset Management LLC now owns 6,370 shares of the oil and gas exploration company’s stock worth $214,000 after buying an additional 1,150 shares during the period. Phocas Financial Corp. acquired a new stake in National Oilwell Varco during the first quarter worth about $223,000. Finally, Murphy Pohlad Asset Management LLC acquired a new stake in National Oilwell Varco during the second quarter worth about $238,000. 94.11% of the stock is owned by hedge funds and other institutional investors.
National Oilwell Varco (NYSE:NOV) traded down 0.46% on Friday, reaching $36.84. The company had a trading volume of 3,121,546 shares. The company’s 50 day moving average price is $34.49 and its 200-day moving average price is $32.91. National Oilwell Varco has a 12 month low of $25.74 and a 12 month high of $40.97. The company’s market capitalization is $13.91 billion.
National Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Thursday, July 28th. The oil and gas exploration company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.02. National Oilwell Varco had a positive return on equity of 1.83% and a negative net margin of 17.14%. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the business posted $0.77 earnings per share. The business’s revenue was down 55.9% compared to the same quarter last year. On average, equities analysts predict that National Oilwell Varco will post ($0.92) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Wednesday, September 14th. National Oilwell Varco’s dividend payout ratio (DPR) is -4.40%.
A number of analysts recently issued reports on the stock. Scotiabank reissued a “sector perform” rating and set a $37.00 target price (up previously from $32.00) on shares of National Oilwell Varco in a research report on Wednesday, June 15th. Johnson Rice raised shares of National Oilwell Varco from a “hold” rating to an “accumulate” rating in a research report on Friday, July 29th. Vetr raised shares of National Oilwell Varco from a “buy” rating to a “strong-buy” rating and set a $37.96 price objective for the company in a research report on Wednesday, June 15th. Citigroup Inc. increased their price objective on shares of National Oilwell Varco from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Monday, September 12th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $33.00 price objective (up previously from $30.00) on shares of National Oilwell Varco in a research report on Monday, July 11th. Five analysts have rated the stock with a sell rating, nineteen have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $34.70.
In other National Oilwell Varco news, VP Scott K. Duff sold 3,181 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $33.40, for a total value of $106,245.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.17% of the stock is owned by company insiders.
About National Oilwell Varco
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.
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