Amundi Pioneer Asset Management Inc. reduced its stake in National-Oilwell Varco, Inc. (NYSE:NOV) by 17.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,698,145 shares of the oil and gas exploration company’s stock after selling 357,100 shares during the period. Amundi Pioneer Asset Management Inc. owned approximately 0.44% of National-Oilwell Varco worth $45,239,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. First Trust Advisors LP raised its stake in shares of National-Oilwell Varco by 111.4% during the first quarter. First Trust Advisors LP now owns 127,021 shares of the oil and gas exploration company’s stock worth $3,384,000 after purchasing an additional 66,949 shares during the last quarter. Horizon Investments LLC purchased a new position in National-Oilwell Varco in the first quarter worth $221,000. Cleararc Capital Inc. purchased a new position in National-Oilwell Varco in the first quarter worth $248,000. Clearbridge Investments LLC raised its position in National-Oilwell Varco by 9.3% in the first quarter. Clearbridge Investments LLC now owns 11,227,988 shares of the oil and gas exploration company’s stock worth $299,114,000 after acquiring an additional 958,131 shares in the last quarter. Finally, Loews Corp purchased a new position in National-Oilwell Varco in the first quarter worth $224,000. Hedge funds and other institutional investors own 92.83% of the company’s stock.
NOV has been the subject of several research analyst reports. AltaCorp Capital reiterated a “sector perform” rating on shares of STEP Energy Services in a research report on Thursday, June 20th. Bank of America reiterated an “underperform” rating and issued a $1.25 price objective (down previously from $4.50) on shares of Superior Energy Services in a research report on Tuesday, June 25th. Barclays increased their price objective on Zimmer Biomet from $113.00 to $117.00 and gave the stock an “underweight” rating in a research report on Monday, April 15th. TheStreet cut Weibo from a “b-” rating to a “c+” rating in a research report on Friday, May 31st. Finally, Johnson Rice cut National-Oilwell Varco from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a research report on Monday, July 15th. Seven equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have assigned a buy rating to the stock. National-Oilwell Varco currently has an average rating of “Hold” and an average price target of $35.88.
National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas exploration company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12). National-Oilwell Varco had a negative net margin of 0.47% and a negative return on equity of 0.29%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period in the previous year, the business earned ($0.18) EPS. The firm’s revenue was up 8.1% on a year-over-year basis. On average, equities analysts forecast that National-Oilwell Varco, Inc. will post -0.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.20 annualized dividend and a yield of 0.95%. National-Oilwell Varco’s dividend payout ratio (DPR) is presently -250.00%.
About National-Oilwell Varco
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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