Forte Capital LLC ADV lowered its stake in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 11.0% during the second quarter, Holdings Channel reports. The institutional investor owned 10,699 shares of the oil and gas exploration company’s stock after selling 1,320 shares during the period. Forte Capital LLC ADV’s holdings in National Oilwell Varco were worth $352,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Creative Planning increased its stake in shares of National Oilwell Varco by 58.4% in the first quarter. Creative Planning now owns 32,683 shares of the oil and gas exploration company’s stock valued at $1,310,000 after buying an additional 12,051 shares in the last quarter. S&CO Inc. increased its stake in shares of National Oilwell Varco by 2.7% in the first quarter. S&CO Inc. now owns 82,906 shares of the oil and gas exploration company’s stock valued at $3,324,000 after buying an additional 2,212 shares in the last quarter. Osborn Williams & Donohoe LLC increased its stake in shares of National Oilwell Varco by 8.8% in the first quarter. Osborn Williams & Donohoe LLC now owns 39,978 shares of the oil and gas exploration company’s stock valued at $1,603,000 after buying an additional 3,228 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its stake in shares of National Oilwell Varco by 48.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 471,203 shares of the oil and gas exploration company’s stock valued at $18,891,000 after buying an additional 153,003 shares in the last quarter. Finally, Park National Corp OH acquired a new stake in shares of National Oilwell Varco during the first quarter valued at about $371,000. 91.54% of the stock is owned by institutional investors and hedge funds.

National Oilwell Varco, Inc. (NYSE:NOV) traded down 1.03% on Thursday, reaching $32.81. The company’s stock had a trading volume of 351,550 shares. The stock’s 50 day moving average price is $33.20 and its 200 day moving average price is $36.96. The firm’s market cap is $12.47 billion. National Oilwell Varco, Inc. has a 52-week low of $29.79 and a 52-week high of $43.63.

National Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Wednesday, April 26th. The oil and gas exploration company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.03. National Oilwell Varco had a negative return on equity of 2.44% and a negative net margin of 35.50%. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the firm posted ($0.06) EPS. The company’s revenue was down 20.5% compared to the same quarter last year. Equities research analysts expect that National Oilwell Varco, Inc. will post ($0.40) earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 16th were issued a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, June 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.60%. National Oilwell Varco’s payout ratio is currently -3.12%.

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Several equities research analysts have issued reports on the company. Vetr downgraded National Oilwell Varco from a “strong-buy” rating to a “buy” rating and set a $44.47 price target for the company. in a report on Wednesday, March 29th. Jefferies Group LLC reissued a “hold” rating and set a $36.00 target price on shares of National Oilwell Varco in a report on Tuesday, April 11th. R. F. Lafferty began coverage on National Oilwell Varco in a report on Thursday, April 6th. They set a “hold” rating and a $39.00 target price for the company. Tudor Pickering began coverage on National Oilwell Varco in a report on Thursday, March 23rd. They set a “hold” rating for the company. Finally, Scotiabank reissued a “hold” rating and set a $37.00 target price on shares of National Oilwell Varco in a report on Wednesday, March 22nd. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. National Oilwell Varco presently has a consensus rating of “Hold” and a consensus target price of $39.35.

National Oilwell Varco Company 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.

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

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