Madison Investment Holdings Inc. Sells 455,645 Shares of National-Oilwell Varco, Inc. (NOV)
Madison Investment Holdings Inc. lowered its holdings in National-Oilwell Varco, Inc. (NYSE:NOV) by 77.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 136,200 shares of the oil and gas exploration company’s stock after selling 455,645 shares during the period. Madison Investment Holdings Inc.’s holdings in National-Oilwell Varco were worth $4,866,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in NOV. Vanguard Group Inc. boosted its holdings in shares of National-Oilwell Varco by 2.5% in the second quarter. Vanguard Group Inc. now owns 38,794,232 shares of the oil and gas exploration company’s stock worth $1,277,882,000 after buying an additional 930,849 shares during the period. First Eagle Investment Management LLC boosted its holdings in shares of National-Oilwell Varco by 2.1% in the third quarter. First Eagle Investment Management LLC now owns 27,068,594 shares of the oil and gas exploration company’s stock worth $967,161,000 after buying an additional 563,589 shares during the period. BlackRock Inc. boosted its holdings in shares of National-Oilwell Varco by 1.4% in the second quarter. BlackRock Inc. now owns 25,195,874 shares of the oil and gas exploration company’s stock worth $829,954,000 after buying an additional 354,574 shares during the period. Harris Associates L P boosted its holdings in shares of National-Oilwell Varco by 16.0% in the second quarter. Harris Associates L P now owns 18,574,753 shares of the oil and gas exploration company’s stock worth $611,852,000 after buying an additional 2,557,484 shares during the period. Finally, FMR LLC boosted its holdings in shares of National-Oilwell Varco by 6.4% in the second quarter. FMR LLC now owns 9,635,851 shares of the oil and gas exploration company’s stock worth $317,405,000 after buying an additional 581,712 shares during the period. 92.56% of the stock is currently owned by institutional investors.
National-Oilwell Varco, Inc. (NOV) traded up $0.67 during midday trading on Tuesday, reaching $33.29. 2,081,700 shares of the company’s stock were exchanged, compared to its average volume of 3,284,994. The company has a quick ratio of 1.62, a current ratio of 2.75 and a debt-to-equity ratio of 0.19. National-Oilwell Varco, Inc. has a 1 year low of $29.90 and a 1 year high of $43.63.
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, beating the Zacks’ consensus estimate of ($0.08) by $0.01. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. National-Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. The company’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.34) earnings per share. analysts anticipate that National-Oilwell Varco, Inc. will post -0.41 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Thursday, December 7th. National-Oilwell Varco’s dividend payout ratio (DPR) is presently -8.03%.
Several brokerages have commented on NOV. SunTrust Banks upgraded shares of National-Oilwell Varco from a “sell” rating to a “hold” rating in a report on Wednesday, November 29th. ValuEngine cut shares of National-Oilwell Varco from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. B. Riley reiterated a “buy” rating on shares of National-Oilwell Varco in a report on Wednesday, November 1st. R. F. Lafferty decreased their price target on shares of National-Oilwell Varco from $33.00 to $31.00 and set a “hold” rating for the company in a report on Monday, November 6th. Finally, Wolfe Research cut shares of National-Oilwell Varco from a “market perform” rating to an “underperform” rating in a report on Tuesday, October 31st. Five 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 given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $38.00.
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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.
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