Teacher Retirement System of Texas Takes $13.21 Million Position in National Oilwell Varco, Inc. (NOV)

Teacher Retirement System of Texas acquired a new stake in shares of National Oilwell Varco, Inc. (NYSE:NOV) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 369,745 shares of the oil and gas exploration company’s stock, valued at approximately $13,211,000. Teacher Retirement System of Texas owned approximately 0.10% of National Oilwell Varco as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOV. Harris Associates L P increased its holdings in shares of National Oilwell Varco by 16.0% during the second quarter. Harris Associates L P now owns 18,574,753 shares of the oil and gas exploration company’s stock valued at $611,852,000 after acquiring an additional 2,557,484 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of National Oilwell Varco by 459.0% during the second quarter. The Manufacturers Life Insurance Company now owns 2,639,603 shares of the oil and gas exploration company’s stock valued at $86,948,000 after buying an additional 2,167,397 shares during the last quarter. American Century Companies Inc. boosted its position in shares of National Oilwell Varco by 33.6% during the second quarter. American Century Companies Inc. now owns 5,924,558 shares of the oil and gas exploration company’s stock valued at $195,155,000 after buying an additional 1,491,359 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of National Oilwell Varco by 2.5% during the second quarter. Vanguard Group Inc. now owns 38,794,232 shares of the oil and gas exploration company’s stock valued at $1,277,882,000 after buying an additional 930,849 shares during the last quarter. Finally, Great Lakes Advisors LLC boosted its position in shares of National Oilwell Varco by 136.2% during the second quarter. Great Lakes Advisors LLC now owns 1,503,441 shares of the oil and gas exploration company’s stock valued at $49,523,000 after buying an additional 866,962 shares during the last quarter. Hedge funds and other institutional investors own 90.16% of the company’s stock.

A number of research analysts have recently commented on the company. Royal Bank Of Canada reaffirmed a “hold” rating on shares of National Oilwell Varco in a research report on Friday, September 1st. Jefferies Group LLC reaffirmed a “hold” rating and set a $34.00 price target (down previously from $38.00) on shares of National Oilwell Varco in a research report on Monday, July 31st. Scotiabank set a $37.00 price target on National Oilwell Varco and gave the company a “hold” rating in a research report on Friday, October 27th. Zacks Investment Research upgraded National Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Seaport Global Securities reiterated a “sell” rating on shares of National Oilwell Varco in a research note on Friday, July 28th. Six analysts have rated the stock with a sell rating, nineteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. National Oilwell Varco currently has a consensus rating of “Hold” and a consensus price target of $37.83.

Shares of National Oilwell Varco, Inc. (NYSE NOV) traded down $0.43 during trading on Friday, hitting $31.51. The stock had a trading volume of 3,152,400 shares, compared to its average volume of 3,327,059. National Oilwell Varco, Inc. has a fifty-two week low of $29.90 and a fifty-two week high of $43.63. The company has a current ratio of 2.75, a quick ratio of 1.62 and a debt-to-equity ratio of 0.19.

National Oilwell Varco (NYSE:NOV) last announced its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. National Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the business earned ($0.34) earnings per share. The business’s revenue was up 11.5% on a year-over-year basis. equities research analysts anticipate that National Oilwell Varco, Inc. will post -0.41 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 8th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.63%. National Oilwell Varco’s dividend payout ratio (DPR) is -8.06%.

ILLEGAL ACTIVITY WARNING: “Teacher Retirement System of Texas Takes $13.21 Million Position in National Oilwell Varco, Inc. (NOV)” was originally posted by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this report on another site, it was stolen and republished in violation of United States & international copyright legislation. The legal version of this report can be viewed at https://sportsperspectives.com/2017/11/17/teacher-retirement-system-of-texas-takes-13-21-million-position-in-national-oilwell-varco-inc-nov.html.

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.

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, Inc. (NYSE:NOV).

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

Receive News & Ratings for National Oilwell Varco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Oilwell Varco Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply