Contrarius Investment Management Ltd boosted its holdings in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 16.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,103,081 shares of the oil and gas exploration company’s stock after acquiring an additional 436,812 shares during the quarter. National Oilwell Varco accounts for 6.5% of Contrarius Investment Management Ltd’s portfolio, making the stock its 2nd biggest holding. Contrarius Investment Management Ltd owned about 0.82% of National Oilwell Varco worth $110,873,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Ameriprise Financial Inc. boosted its holdings in National Oilwell Varco by 15.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 292,772 shares of the oil and gas exploration company’s stock valued at $10,461,000 after acquiring an additional 38,506 shares during the period. Ninepoint Partners LP purchased a new position in National Oilwell Varco during the 3rd quarter valued at $411,000. Quantbot Technologies LP purchased a new position in National Oilwell Varco during the 3rd quarter valued at $386,000. IBM Retirement Fund purchased a new position in National Oilwell Varco during the 3rd quarter valued at $200,000. Finally, Bedrijfstakpensioenfonds Voor DE Media PNO boosted its holdings in National Oilwell Varco by 17.1% during the 3rd quarter. Bedrijfstakpensioenfonds Voor DE Media PNO now owns 41,176 shares of the oil and gas exploration company’s stock valued at $1,471,000 after acquiring an additional 6,004 shares during the period. Institutional investors own 90.16% of the company’s stock.

Shares of National Oilwell Varco, Inc. (NYSE:NOV) traded down $0.43 during mid-day trading on Friday, hitting $31.51. The stock had a trading volume of 3,152,400 shares, compared to its average volume of 3,327,059. The company has a current ratio of 2.75, a quick ratio of 1.62 and a debt-to-equity ratio of 0.19. National Oilwell Varco, Inc. has a fifty-two week low of $29.90 and a fifty-two week high of $43.63.

National Oilwell Varco (NYSE:NOV) last announced its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. National Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. The company’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.34) earnings per share. research analysts anticipate that National Oilwell Varco, Inc. will post -0.41 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 8th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.63%. National Oilwell Varco’s dividend payout ratio is presently -8.06%.

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Several equities research analysts have weighed in on NOV shares. Scotiabank set a $37.00 target price on National Oilwell Varco and gave the stock a “hold” rating in a report on Friday, October 27th. FBR & Co reiterated a “buy” rating and issued a $42.00 target price on shares of National Oilwell Varco in a report on Thursday, August 31st. Royal Bank Of Canada reiterated a “hold” rating on shares of National Oilwell Varco in a report on Friday, September 1st. Zacks Investment Research cut National Oilwell Varco from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Finally, UBS AG reiterated a “neutral” rating and issued a $37.00 target price (down from $38.00) on shares of National Oilwell Varco in a report on Monday, July 31st. Six research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $37.83.

About National Oilwell Varco

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.

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

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