Moors & Cabot Inc. grew its stake in National-Oilwell Varco, Inc. (NYSE:NOV) by 100.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,238 shares of the oil and gas exploration company’s stock after acquiring an additional 26,120 shares during the quarter. Moors & Cabot Inc.’s holdings in National-Oilwell Varco were worth $1,390,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Securian Asset Management Inc increased its position in shares of National-Oilwell Varco by 1.2% during the 1st quarter. Securian Asset Management Inc now owns 39,161 shares of the oil and gas exploration company’s stock worth $1,043,000 after purchasing an additional 480 shares during the last quarter. Columbus Macro LLC boosted its holdings in National-Oilwell Varco by 2.6% during the 4th quarter. Columbus Macro LLC now owns 23,445 shares of the oil and gas exploration company’s stock valued at $603,000 after acquiring an additional 591 shares during the period. JOYN Advisors Inc. boosted its holdings in National-Oilwell Varco by 166.2% during the 4th quarter. JOYN Advisors Inc. now owns 1,046 shares of the oil and gas exploration company’s stock valued at $27,000 after acquiring an additional 653 shares during the period. First Manhattan Co. boosted its holdings in National-Oilwell Varco by 2.3% during the 4th quarter. First Manhattan Co. now owns 30,404 shares of the oil and gas exploration company’s stock valued at $781,000 after acquiring an additional 677 shares during the period. Finally, Moody National Bank Trust Division boosted its holdings in National-Oilwell Varco by 125.0% during the 1st quarter. Moody National Bank Trust Division now owns 1,233 shares of the oil and gas exploration company’s stock valued at $33,000 after acquiring an additional 685 shares during the period. 92.84% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently commented on NOV shares. Raymond James set a $40.00 target price on National-Oilwell Varco and gave the company a “buy” rating in a report on Friday, February 8th. Barclays lowered their target price on National-Oilwell Varco from $32.00 to $28.00 and set an “equal weight” rating for the company in a report on Monday, April 15th. Royal Bank of Canada set a $31.00 target price on National-Oilwell Varco and gave the company a “hold” rating in a report on Friday, February 8th. Citigroup set a $31.00 price objective on National-Oilwell Varco and gave the company a “hold” rating in a research note on Wednesday, May 8th. Finally, Zacks Investment Research cut National-Oilwell Varco from a “hold” rating to a “strong sell” rating in a research note on Monday, May 20th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the stock. National-Oilwell Varco currently has an average rating of “Hold” and an average price target of $38.08.
In other National-Oilwell Varco news, VP Scott K. Duff sold 15,125 shares of National-Oilwell Varco stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $28.02, for a total transaction of $423,802.50. Following the transaction, the vice president now owns 54,098 shares of the company’s stock, valued at $1,515,825.96. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.92% of the company’s stock.
Shares of NYSE NOV traded down $0.24 during midday trading on Wednesday, hitting $21.66. 2,950,915 shares of the company’s stock were exchanged, compared to its average volume of 3,995,873. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.81 and a current ratio of 3.30. National-Oilwell Varco, Inc. has a twelve month low of $21.22 and a twelve month high of $49.08. The firm has a market capitalization of $8.64 billion, a PE ratio of -270.75 and a beta of 1.20.
National-Oilwell Varco (NYSE:NOV) last issued its earnings results on Thursday, April 25th. The oil and gas exploration company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.12). The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.99 billion. National-Oilwell Varco had a negative return on equity of 0.29% and a negative net margin of 0.47%. National-Oilwell Varco’s revenue was up 8.1% on a year-over-year basis. During the same period last year, the business posted ($0.18) EPS. On average, sell-side analysts forecast that National-Oilwell Varco, Inc. will post -0.2 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.92%. National-Oilwell Varco’s dividend payout ratio (DPR) is -250.00%.
About National-Oilwell Varco
National Oilwell Varco, Inc designs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. It operates in three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. The Wellbore Technologies segment offers various equipment and technologies used to perform drilling operations.
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