Court Place Advisors LLC Has $571,000 Stake in National Oilwell Varco (NOV)
Court Place Advisors LLC continued to hold its position in shares of National Oilwell Varco (NYSE:NOV) during the second quarter, Holdings Channel reports. The institutional investor owned 16,981 shares of the oil and gas exploration company’s stock at the end of the second quarter. Court Place Advisors LLC’s holdings in National Oilwell Varco were worth $571,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of National Oilwell Varco during the fourth quarter valued at about $113,809,000. Chevy Chase Trust Holdings Inc. increased its position in shares of National Oilwell Varco by 2.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 320,833 shares of the oil and gas exploration company’s stock valued at $9,978,000 after buying an additional 8,094 shares during the period. DnB Asset Management AS increased its position in shares of National Oilwell Varco by 44.1% in the first quarter. DnB Asset Management AS now owns 33,645 shares of the oil and gas exploration company’s stock valued at $1,046,000 after buying an additional 10,300 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of National Oilwell Varco by 10.8% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 91,912 shares of the oil and gas exploration company’s stock valued at $2,858,000 after buying an additional 8,991 shares during the period. Finally, Exxonmobil Investment Management Inc. TX increased its position in shares of National Oilwell Varco by 8.6% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 91,498 shares of the oil and gas exploration company’s stock valued at $2,846,000 after buying an additional 7,277 shares during the period. Institutional investors own 94.13% of the company’s stock.
National Oilwell Varco (NYSE:NOV) traded down 1.52% on Monday, reaching $32.36. 2,071,932 shares of the company were exchanged. National Oilwell Varco has a 12-month low of $25.74 and a 12-month high of $42.62. The firm has a 50-day moving average of $33.88 and a 200 day moving average of $32.66. The firm’s market capitalization is $12.22 billion.
National Oilwell Varco (NYSE:NOV) last issued its earnings results on Thursday, July 28th. The oil and gas exploration company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.80 billion. National Oilwell Varco had a negative net margin of 17.14% and a positive return on equity of 1.83%. The business’s revenue was down 55.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 earnings per share. On average, equities analysts predict that National Oilwell Varco will post ($0.92) earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.62%. National Oilwell Varco’s dividend payout ratio is presently -4.40%.
A number of research firms recently weighed in on NOV. Jefferies Group restated a “hold” rating and issued a $30.00 price objective (up from $27.00) on shares of National Oilwell Varco in a report on Tuesday, May 24th. Vetr downgraded National Oilwell Varco from a “strong-buy” rating to a “buy” rating and set a $35.67 price objective for the company. in a report on Wednesday, May 25th. Credit Suisse Group AG restated a “sell” rating on shares of National Oilwell Varco in a report on Thursday, June 2nd. Bank of America Corp. restated an “underperform” rating on shares of National Oilwell Varco in a report on Monday, June 13th. Finally, Zacks Investment Research upgraded National Oilwell Varco from a “sell” rating to a “hold” rating in a report on Monday, June 13th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and seven have assigned a buy rating to the company’s stock. National Oilwell Varco presently has an average rating of “Hold” and an average target price of $34.98.
In other news, VP Scott K. Duff sold 3,181 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $33.40, for a total value of $106,245.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.17% of the stock is currently owned by insiders.
National Oilwell Varco Company Profile
National Oilwell Varco, Inc (NOV) is engaged in providing design, manufacture and sale of equipment and components used in oil and gas drilling, completion and production operations. The Company operates through four segments: Rig Systems, which makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore; Rig Aftermarket, which provides aftermarket products and services to support land and offshore rigs, and drilling rig components manufactured by the Company’s Rig Systems segment; Wellbore Technologies, which sells and rents solids control equipment, and provides solids control, waste management and drilling fluids services, and Completion & Production Solutions, which provides technologies for well completions and oil and gas production.
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