Skandinaviska Enskilda Banken AB publ increased its position in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 4.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 95,105 shares of the oil and gas exploration company’s stock after acquiring an additional 3,700 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in National Oilwell Varco were worth $3,398,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in National Oilwell Varco by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 38,794,232 shares of the oil and gas exploration company’s stock worth $1,277,882,000 after acquiring an additional 930,849 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in National Oilwell Varco by 2.1% during the 3rd quarter. First Eagle Investment Management LLC now owns 27,068,594 shares of the oil and gas exploration company’s stock worth $967,161,000 after acquiring an additional 563,589 shares during the last quarter. BlackRock Inc. boosted its stake in National Oilwell Varco by 1.4% during the 2nd quarter. BlackRock Inc. now owns 25,195,874 shares of the oil and gas exploration company’s stock worth $829,954,000 after acquiring an additional 354,574 shares during the last quarter. Harris Associates L P raised its holdings in National Oilwell Varco by 16.0% during the 2nd quarter. Harris Associates L P now owns 18,574,753 shares of the oil and gas exploration company’s stock worth $611,852,000 after buying an additional 2,557,484 shares during the period. Finally, FMR LLC raised its holdings in National Oilwell Varco by 6.4% during the 2nd quarter. FMR LLC now owns 9,635,851 shares of the oil and gas exploration company’s stock worth $317,405,000 after buying an additional 581,712 shares during the period. 92.56% of the stock is currently owned by institutional investors and hedge funds.
NOV has been the topic of several research analyst reports. FBR & Co restated a “buy” rating and set a $42.00 target price on shares of National Oilwell Varco in a report on Thursday, August 31st. R. F. Lafferty dropped their target price on shares of National Oilwell Varco from $33.00 to $31.00 and set a “hold” rating on the stock in a report on Monday, November 6th. BidaskClub downgraded shares of National Oilwell Varco from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Cowen set a $30.00 target price on shares of National Oilwell Varco and gave the stock a “hold” rating in a report on Friday, October 6th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $36.00 target price on shares of National Oilwell Varco in a report on Tuesday, September 26th. Five research analysts have rated the stock with a sell rating, twenty have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $38.00.
National Oilwell Varco (NYSE:NOV) last issued its earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.01. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. National Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.34) earnings per share. analysts predict 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. Investors of record on Friday, December 8th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.20 dividend on an annualized basis and a yield of 0.59%. National Oilwell Varco’s payout ratio is -8.03%.
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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.
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