National Oilwell Varco, Inc. (NOV) Shares Bought by Global X Management Co. LLC

Global X Management Co. LLC increased its position in National Oilwell Varco, Inc. (NYSE:NOV) by 28.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,056 shares of the oil and gas exploration company’s stock after buying an additional 2,199 shares during the period. Global X Management Co. LLC’s holdings in National Oilwell Varco were worth $331,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Moody Lynn & Lieberson LLC raised its stake in shares of National Oilwell Varco by 0.4% in the first quarter. Moody Lynn & Lieberson LLC now owns 6,684 shares of the oil and gas exploration company’s stock worth $268,000 after buying an additional 29 shares in the last quarter. Cleararc Capital Inc. increased its stake in National Oilwell Varco by 0.7% in the first quarter. Cleararc Capital Inc. now owns 9,243 shares of the oil and gas exploration company’s stock worth $371,000 after buying an additional 65 shares during the last quarter. First Manhattan Co. increased its stake in National Oilwell Varco by 0.3% in the first quarter. First Manhattan Co. now owns 32,934 shares of the oil and gas exploration company’s stock worth $1,210,000 after buying an additional 98 shares during the last quarter. CIBC Asset Management Inc increased its stake in National Oilwell Varco by 0.3% in the second quarter. CIBC Asset Management Inc now owns 36,365 shares of the oil and gas exploration company’s stock worth $1,198,000 after buying an additional 113 shares during the last quarter. Finally, Sandy Spring Bank increased its stake in National Oilwell Varco by 0.4% in the first quarter. Sandy Spring Bank now owns 32,934 shares of the oil and gas exploration company’s stock worth $1,320,000 after buying an additional 115 shares during the last quarter. 91.63% of the stock is owned by institutional investors.

National Oilwell Varco, Inc. (NYSE:NOV) opened at 30.38 on Monday. The firm has a 50-day moving average of $32.47 and a 200 day moving average of $35.46. The firm’s market cap is $11.55 billion. National Oilwell Varco, Inc. has a 1-year low of $29.90 and a 1-year high of $43.63.

National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.14). National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period last year, the company earned ($0.30) earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. Analysts expect that National Oilwell Varco, Inc. will post ($0.39) earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.66%. National Oilwell Varco’s dividend payout ratio (DPR) is presently -3.31%.

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NOV has been the topic of a number of research reports. Piper Jaffray Companies set a $37.00 target price on shares of National Oilwell Varco and gave the stock a “buy” rating in a report on Thursday, July 27th. Loop Capital upgraded shares of National Oilwell Varco from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Thursday. Jefferies Group LLC set a $38.00 target price on shares of National Oilwell Varco and gave the stock a “hold” rating in a report on Wednesday, May 31st. ValuEngine upgraded shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, Cowen and Company reiterated a “hold” rating and issued a $37.00 target price on shares of National Oilwell Varco in a report on Tuesday, July 11th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. National Oilwell Varco presently has an average rating of “Hold” and a consensus price target of $39.09.

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.

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

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