First Trust Advisors LP grew its stake in National-Oilwell Varco, Inc. (NYSE:NOV) by 111.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 127,021 shares of the oil and gas exploration company’s stock after purchasing an additional 66,949 shares during the period. First Trust Advisors LP’s holdings in National-Oilwell Varco were worth $3,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Reinhart Partners Inc. grew its position in shares of National-Oilwell Varco by 9.1% in the first quarter. Reinhart Partners Inc. now owns 314,332 shares of the oil and gas exploration company’s stock valued at $8,374,000 after purchasing an additional 26,311 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of National-Oilwell Varco by 5.9% in the first quarter. State of Alaska Department of Revenue now owns 146,804 shares of the oil and gas exploration company’s stock valued at $3,909,000 after purchasing an additional 8,203 shares in the last quarter. Viking Fund Management LLC purchased a new stake in shares of National-Oilwell Varco in the first quarter valued at approximately $2,930,000. Gryphon Financial Partners LLC purchased a new stake in shares of National-Oilwell Varco in the fourth quarter valued at approximately $317,000. Finally, Fulton Bank N.A. grew its position in shares of National-Oilwell Varco by 18.4% in the first quarter. Fulton Bank N.A. now owns 17,095 shares of the oil and gas exploration company’s stock valued at $456,000 after purchasing an additional 2,653 shares in the last quarter. Institutional investors and hedge funds own 92.83% of the company’s stock.

NYSE:NOV opened at $20.00 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.30 and a quick ratio of 1.81. National-Oilwell Varco, Inc. has a 52 week low of $19.57 and a 52 week high of $49.08.

National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings results 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 return on equity of 0.29% and a negative net margin of 0.47%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the company earned ($0.18) earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities analysts forecast that National-Oilwell Varco, Inc. will post -0.18 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Thursday, June 13th. National-Oilwell Varco’s dividend payout ratio (DPR) is -250.00%.

A number of research firms have recently issued reports on NOV. Citigroup set a $31.00 price target on National-Oilwell Varco and gave the company a “hold” rating in a research report on Thursday, June 6th. TheStreet lowered National-Oilwell Varco from a “c-” rating to a “d+” rating in a research report on Friday, May 31st. ValuEngine lowered National-Oilwell Varco from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Zacks Investment Research lowered National-Oilwell Varco from a “hold” rating to a “strong sell” rating in a research report on Monday, May 20th. Finally, SunTrust Banks lowered their price objective on National-Oilwell Varco to $24.00 and set a “hold” rating for the company in a research report on Tuesday, April 16th. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $38.08.

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National-Oilwell Varco Company 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.

See Also: Why Net Income is Important to Investors

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

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