National-Oilwell Varco, Inc. (NOV) Stake Lessened by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its stake in National-Oilwell Varco, Inc. (NYSE:NOV) by 10.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 445,065 shares of the oil and gas exploration company’s stock after selling 51,027 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.12% of National-Oilwell Varco worth $11,438,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in National-Oilwell Varco by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 40,535,826 shares of the oil and gas exploration company’s stock valued at $1,746,283,000 after buying an additional 506,418 shares in the last quarter. Vanguard Group Inc raised its holdings in National-Oilwell Varco by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 40,535,826 shares of the oil and gas exploration company’s stock valued at $1,746,283,000 after acquiring an additional 506,418 shares during the last quarter. BlackRock Inc. raised its holdings in National-Oilwell Varco by 4.3% in the 4th quarter. BlackRock Inc. now owns 26,005,356 shares of the oil and gas exploration company’s stock valued at $668,337,000 after acquiring an additional 1,072,861 shares during the last quarter. Harris Associates L P raised its holdings in National-Oilwell Varco by 1.8% in the 4th quarter. Harris Associates L P now owns 22,820,259 shares of the oil and gas exploration company’s stock valued at $586,481,000 after acquiring an additional 412,852 shares during the last quarter. Finally, Pzena Investment Management LLC raised its holdings in National-Oilwell Varco by 37.9% in the 4th quarter. Pzena Investment Management LLC now owns 12,651,572 shares of the oil and gas exploration company’s stock valued at $325,145,000 after acquiring an additional 3,475,751 shares during the last quarter. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE NOV opened at $27.24 on Tuesday. The company has a market cap of $10.21 billion, a PE ratio of -340.50, a PEG ratio of 22.62 and a beta of 1.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.11 and a quick ratio of 1.83. National-Oilwell Varco, Inc. has a 1 year low of $24.27 and a 1 year high of $49.08.

National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Wednesday, February 6th. The oil and gas exploration company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.05). The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.18 billion. National-Oilwell Varco had a negative return on equity of 0.22% and a negative net margin of 0.37%. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.04) EPS. On average, sell-side analysts expect that National-Oilwell Varco, Inc. will post 0.2 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.73%. National-Oilwell Varco’s dividend payout ratio is currently -250.00%.

NOV has been the subject of a number of recent research reports. Barclays reiterated a “hold” rating and issued a $35.00 price objective on shares of National-Oilwell Varco in a report on Friday, January 18th. Goldman Sachs Group initiated coverage on shares of National-Oilwell Varco in a report on Sunday, March 10th. They issued a “neutral” rating and a $33.00 price objective for the company. Wolfe Research downgraded shares of National-Oilwell Varco from a “market perform” rating to a “sell” rating in a report on Monday, December 10th. Raymond James reiterated a “buy” rating and issued a $37.00 price objective on shares of National-Oilwell Varco in a report on Thursday, December 13th. Finally, UBS Group set a $28.00 price objective on shares of National-Oilwell Varco and gave the company a “hold” rating in a report on Thursday, December 20th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $38.83.

In other news, VP Scott K. Duff sold 15,125 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $28.02, for a total transaction of $423,802.50. Following the completion of the sale, the vice president now owns 54,098 shares in the company, valued at approximately $1,515,825.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.79% of the stock is owned by company insiders.

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National-Oilwell Varco Profile

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

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