Marshall Wace North America L.P. Purchases New Position in National-Oilwell Varco, Inc. (NYSE:NOV)
Marshall Wace North America L.P. purchased a new stake in National-Oilwell Varco, Inc. (NYSE:NOV) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 47,581 shares of the oil and gas exploration company’s stock, valued at approximately $1,192,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. Evoke Wealth LLC acquired a new position in shares of National-Oilwell Varco in the third quarter valued at approximately $32,000. Acadian Asset Management LLC acquired a new position in National-Oilwell Varco in the 4th quarter valued at $35,000. Firestone Capital Management acquired a new position in National-Oilwell Varco in the 4th quarter valued at $45,000. Americana Partners LLC bought a new position in National-Oilwell Varco during the 4th quarter worth $50,000. Finally, Peddock Capital Advisors LLC bought a new position in National-Oilwell Varco during the 4th quarter worth $73,000. 95.39% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on NOV shares. Sanford C. Bernstein assumed coverage on shares of National-Oilwell Varco in a research report on Monday, January 13th. They issued a “market perform” rating for the company. Evercore ISI assumed coverage on shares of National-Oilwell Varco in a research note on Friday, February 7th. They issued a “buy” rating and a $28.00 price objective for the company. Argus cut shares of National-Oilwell Varco from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Citigroup cut shares of National-Oilwell Varco from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a research note on Monday, March 9th. Finally, Bernstein Bank assumed coverage on shares of National-Oilwell Varco in a research note on Tuesday, January 14th. They issued a “market perform” rating for the company. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $21.79.
National-Oilwell Varco (NYSE:NOV) last issued its earnings results on Thursday, February 6th. The oil and gas exploration company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.16 by $0.84. The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.10 billion. National-Oilwell Varco had a negative net margin of 71.88% and a negative return on equity of 2.86%. On average, research analysts predict that National-Oilwell Varco, Inc. will post 0.41 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Thursday, March 12th. National-Oilwell Varco’s payout ratio is presently -27.78%.
In other news, CFO Jose A. Bayardo bought 20,000 shares of the company’s stock in a transaction dated Wednesday, March 18th. The stock was bought at an average cost of $8.47 per share, for a total transaction of $169,400.00. Following the transaction, the chief financial officer now owns 245,748 shares of the company’s stock, valued at $2,081,485.56. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Scott K. Duff sold 7,134 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $23.30, for a total transaction of $166,222.20. Following the completion of the transaction, the vice president now owns 35,587 shares of the company’s stock, valued at $829,177.10. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by insiders.
About National-Oilwell Varco
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.
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