Advisory Services Network LLC Cuts Position in National-Oilwell Varco, Inc. (NYSE:NOV)

Advisory Services Network LLC decreased its position in National-Oilwell Varco, Inc. (NYSE:NOV) by 11.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,399 shares of the oil and gas exploration company’s stock after selling 2,468 shares during the period. Advisory Services Network LLC’s holdings in National-Oilwell Varco were worth $490,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pzena Investment Management LLC raised its stake in National-Oilwell Varco by 31.3% during the first quarter. Pzena Investment Management LLC now owns 16,608,676 shares of the oil and gas exploration company’s stock worth $442,455,000 after purchasing an additional 3,957,104 shares during the period. Norges Bank acquired a new stake in National-Oilwell Varco during the 4th quarter worth $74,143,000. Lord Abbett & CO. LLC boosted its stake in National-Oilwell Varco by 1,429.4% during the 4th quarter. Lord Abbett & CO. LLC now owns 2,024,969 shares of the oil and gas exploration company’s stock worth $52,042,000 after purchasing an additional 1,892,569 shares during the period. American Century Companies Inc. boosted its stake in National-Oilwell Varco by 133.5% during the 4th quarter. American Century Companies Inc. now owns 3,110,320 shares of the oil and gas exploration company’s stock worth $79,935,000 after purchasing an additional 1,777,998 shares during the period. Finally, Deutsche Bank AG boosted its stake in National-Oilwell Varco by 118.0% during the 4th quarter. Deutsche Bank AG now owns 2,950,870 shares of the oil and gas exploration company’s stock worth $75,831,000 after purchasing an additional 1,597,427 shares during the period. 92.82% of the stock is owned by institutional investors.

NOV has been the subject of a number of recent research reports. Piper Jaffray Companies set a $40.00 price target on shares of Schlumberger and gave the stock a “buy” rating in a research note on Monday, July 1st. ValuEngine downgraded shares of Verso from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Citigroup set a $86.00 price objective on shares of Prologis and gave the stock a “buy” rating in a research report on Thursday, June 6th. SunTrust Banks upped their price objective on shares of Global Payments to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Barclays upped their price objective on shares of Zimmer Biomet from $113.00 to $117.00 and gave the stock an “underweight” rating in a research report on Monday, April 15th. Seven investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $37.08.

Shares of NOV traded down $0.08 during trading hours on Friday, reaching $21.94. The company had a trading volume of 4,233,235 shares, compared to its average volume of 3,860,105. The firm has a 50 day moving average of $21.40. The company has a quick ratio of 1.81, a current ratio of 3.30 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $8.47 billion, a P/E ratio of -274.25 and a beta of 1.28. National-Oilwell Varco, Inc. has a 12-month low of $19.57 and a 12-month high of $49.08.

National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas exploration company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.12). The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.99 billion. National-Oilwell Varco had a negative net margin of 0.47% and a negative return on equity of 0.29%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.18) EPS. Equities research analysts predict that National-Oilwell Varco, Inc. will post -0.22 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.91%. National-Oilwell Varco’s payout ratio is -250.00%.

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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