Meadow Creek Investment Management LLC cut its stake in National-Oilwell Varco, Inc. (NYSE:NOV) by 73.4% during the first quarter, Holdings Channel reports. The institutional investor owned 17,264 shares of the oil and gas exploration company’s stock after selling 47,664 shares during the period. Meadow Creek Investment Management LLC’s holdings in National-Oilwell Varco were worth $692,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in NOV. Greylin Investment Mangement Inc. increased its position in National-Oilwell Varco by 16.0% in the third quarter. Greylin Investment Mangement Inc. now owns 77,880 shares of the oil and gas exploration company’s stock valued at $2,861,000 after buying an additional 10,750 shares during the period. High Pointe Capital Management LLC increased its position in National-Oilwell Varco by 180.6% in the third quarter. High Pointe Capital Management LLC now owns 31,150 shares of the oil and gas exploration company’s stock valued at $1,144,000 after buying an additional 20,050 shares during the period. Blue Rock Advisors LLC purchased a new position in National-Oilwell Varco during the third quarter valued at $471,000. Visionary Asset Management Inc. increased its position in National-Oilwell Varco by 4.1% in the third quarter. Visionary Asset Management Inc. now owns 81,206 shares of the oil and gas exploration company’s stock valued at $2,984,000 after buying an additional 3,229 shares during the period. Finally, Rand Wealth LLC increased its position in National-Oilwell Varco by 1.0% in the third quarter. Rand Wealth LLC now owns 66,465 shares of the oil and gas exploration company’s stock valued at $2,442,000 after buying an additional 650 shares during the period. 94.98% of the stock is currently owned by institutional investors.

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

Shares of National-Oilwell Varco, Inc. (NYSE:NOV) traded up 3.131% during midday trading on Friday, reaching $35.085. 2,314,473 shares of the company’s stock traded hands. National-Oilwell Varco, Inc. has a 52-week low of $29.79 and a 52-week high of $43.63. The stock’s market cap is $13.33 billion. The stock has a 50 day moving average of $36.07 and a 200-day moving average of $37.45.

National-Oilwell Varco (NYSE:NOV) last posted its earnings results on Wednesday, April 26th. The oil and gas exploration company reported ($0.17) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.03. National-Oilwell Varco had a negative return on equity of 2.08% and a negative net margin of 33.26%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the firm earned ($0.06) earnings per share. The company’s revenue was down 20.5% on a year-over-year basis. On average, equities research analysts expect that National-Oilwell Varco, Inc. will post ($0.40) EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Wednesday, June 14th. National-Oilwell Varco’s dividend payout ratio is currently -3.12%.

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Several research analysts have recently weighed in on NOV shares. Zacks Investment Research raised shares of National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Friday, February 10th. Vetr raised shares of National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $39.33 target price on the stock in a research report on Monday, January 30th. Societe Generale raised shares of National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Thursday, January 19th. Argus raised shares of National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Friday, March 3rd. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $40.00 price objective on shares of National-Oilwell Varco in a research report on Wednesday, February 1st. Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $38.74.

In related news, VP Scott K. Duff sold 37,369 shares of the firm’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $39.87, for a total value of $1,489,902.03. Following the transaction, the vice president now owns 30,559 shares in the company, valued at $1,218,387.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph W. Rovig sold 49,825 shares of the firm’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $41.48, for a total value of $2,066,741.00. Following the completion of the transaction, the insider now owns 91 shares in the company, valued at approximately $3,774.68. The disclosure for this sale can be found here. Insiders have sold 91,979 shares of company stock valued at $3,751,823 in the last three months. Insiders own 0.17% of the company’s stock.

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.

5 Day Chart for NYSE:NOV

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