Hartford Investment Management Co. decreased its position in National Oilwell Varco, Inc. (NYSE:NOV) by 5.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 81,889 shares of the oil and gas exploration company’s stock after selling 4,992 shares during the quarter. Hartford Investment Management Co.’s holdings in National Oilwell Varco were worth $2,926,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of NOV. Russell Investments Group Ltd. grew its holdings in National Oilwell Varco by 28.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 294,690 shares of the oil and gas exploration company’s stock worth $9,710,000 after acquiring an additional 64,419 shares during the last quarter. NGAM Advisors L.P. grew its holdings in National Oilwell Varco by 6.2% during the 2nd quarter. NGAM Advisors L.P. now owns 161,372 shares of the oil and gas exploration company’s stock worth $5,316,000 after acquiring an additional 9,413 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in National Oilwell Varco by 9.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 43,701 shares of the oil and gas exploration company’s stock worth $1,440,000 after acquiring an additional 3,820 shares during the last quarter. CIBC Asset Management Inc grew its holdings in National Oilwell Varco by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 36,365 shares of the oil and gas exploration company’s stock worth $1,198,000 after acquiring an additional 113 shares during the last quarter. Finally, Investment Counselors of Maryland LLC grew its holdings in National Oilwell Varco by 2.8% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 15,460 shares of the oil and gas exploration company’s stock worth $509,000 after acquiring an additional 425 shares during the last quarter. 92.56% of the stock is currently owned by institutional investors and hedge funds.

National Oilwell Varco, Inc. (NYSE:NOV) traded up $0.54 during midday trading on Monday, reaching $34.09. The company had a trading volume of 3,768,600 shares, compared to its average volume of 3,301,510. National Oilwell Varco, Inc. has a twelve month low of $29.90 and a twelve month high of $43.63. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.75 and a quick ratio of 1.62.

National Oilwell Varco (NYSE:NOV) last posted its earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the business earned ($0.34) EPS. National Oilwell Varco’s revenue for the quarter was up 11.5% compared to the same quarter last year. sell-side analysts expect that National Oilwell Varco, Inc. will post -0.41 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.20 dividend on an annualized basis and a yield of 0.59%. National Oilwell Varco’s payout ratio is -8.03%.

A number of brokerages have commented on NOV. B. Riley reissued a “buy” rating on shares of National Oilwell Varco in a report on Wednesday, November 1st. SunTrust Banks raised shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a report on Wednesday, November 29th. BidaskClub lowered shares of National Oilwell Varco from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Piper Jaffray Companies restated a “buy” rating and set a $36.00 target price on shares of National Oilwell Varco in a research report on Tuesday, September 26th. Finally, ValuEngine downgraded shares of National Oilwell Varco from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Five equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $38.00.

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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.

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

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