First Republic Investment Management Inc. decreased its stake in National-Oilwell Varco, Inc. (NYSE:NOV) by 27.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,143 shares of the oil and gas exploration company’s stock after selling 67,641 shares during the period. First Republic Investment Management Inc.’s holdings in National-Oilwell Varco were worth $6,401,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IHT Wealth Management LLC boosted its position in shares of National-Oilwell Varco by 1,923.1% in the second quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock worth $112,000 after buying an additional 500 shares during the period. Tiedemann Wealth Management LLC boosted its position in shares of National-Oilwell Varco by 77.8% in the third quarter. Tiedemann Wealth Management LLC now owns 11,668 shares of the oil and gas exploration company’s stock worth $194,000 after buying an additional 5,107 shares during the period. IBM Retirement Fund purchased a new stake in shares of National-Oilwell Varco in the third quarter worth about $200,000. Wrapmanager Inc. purchased a new stake in shares of National-Oilwell Varco in the third quarter worth about $202,000. Finally, Smith Salley & Associates purchased a new stake in shares of National-Oilwell Varco in the third quarter worth about $214,000. 92.56% of the stock is owned by institutional investors.

Several equities research analysts have recently weighed in on NOV shares. FBR & Co reaffirmed a “buy” rating and issued a $42.00 target price on shares of National-Oilwell Varco in a research report on Thursday, August 31st. Loop Capital raised National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Thursday, August 17th. Zacks Investment Research raised National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Monday, October 9th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $36.00 target price on shares of National-Oilwell Varco in a research report on Tuesday, September 26th. Finally, B. Riley reaffirmed a “buy” rating on shares of National-Oilwell Varco in a research report on Wednesday, November 1st. Five equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. National-Oilwell Varco has an average rating of “Hold” and a consensus target price of $38.00.

National-Oilwell Varco, Inc. (NYSE:NOV) opened at $32.62 on Friday. National-Oilwell Varco, Inc. has a one year low of $29.90 and a one year high of $43.63. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.62 and a current ratio of 2.75.

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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. National-Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the firm posted ($0.34) earnings per share. National-Oilwell Varco’s revenue for the quarter was up 11.5% compared to the same quarter last year. equities 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. Shareholders of record on Friday, December 8th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Thursday, December 7th. National-Oilwell Varco’s payout ratio is currently -8.03%.

TRADEMARK VIOLATION NOTICE: This article was posted by Watch List News and is the property of of Watch List News. If you are accessing this article on another domain, it was stolen and reposted in violation of US & international trademark and copyright laws. The correct version of this article can be viewed at https://www.watchlistnews.com/first-republic-investment-management-inc-has-6-40-million-stake-in-national-oilwell-varco-inc-nov/1755718.html.

National-Oilwell Varco Profile

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)

Receive News & Ratings for National-Oilwell Varco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National-Oilwell Varco Inc. and related companies with MarketBeat.com's FREE daily email newsletter.