State Street Corp trimmed its position in National Oilwell Varco, Inc. (NYSE:NOV) by 0.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,898,310 shares of the oil and gas exploration company’s stock after selling 101,088 shares during the quarter. State Street Corp owned about 5.50% of National Oilwell Varco worth $688,386,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Cleararc Capital Inc. boosted its holdings in National Oilwell Varco by 0.7% in the 1st quarter. Cleararc Capital Inc. now owns 9,243 shares of the oil and gas exploration company’s stock valued at $371,000 after purchasing an additional 65 shares during the last quarter. Fernwood Investment Management LLC boosted its holdings in National Oilwell Varco by 0.6% in the 2nd quarter. Fernwood Investment Management LLC now owns 15,765 shares of the oil and gas exploration company’s stock valued at $519,000 after purchasing an additional 100 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in National Oilwell Varco by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 36,365 shares of the oil and gas exploration company’s stock valued at $1,198,000 after purchasing an additional 113 shares during the last quarter. Cadence Capital Management LLC boosted its holdings in National Oilwell Varco by 1.0% in the 2nd quarter. Cadence Capital Management LLC now owns 14,143 shares of the oil and gas exploration company’s stock valued at $466,000 after purchasing an additional 143 shares during the last quarter. Finally, Peddock Capital Advisors LLC boosted its holdings in National Oilwell Varco by 1.7% in the 2nd quarter. Peddock Capital Advisors LLC now owns 9,188 shares of the oil and gas exploration company’s stock valued at $303,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 90.29% of the company’s stock.

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NOV has been the topic of several recent analyst reports. BMO Capital Markets restated a “sell” rating and issued a $30.00 price objective on shares of National Oilwell Varco in a report on Thursday, June 22nd. BidaskClub lowered shares of National Oilwell Varco from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. ValuEngine upgraded shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Credit Suisse Group set a $35.00 price objective on shares of National Oilwell Varco and gave the stock a “hold” rating in a report on Saturday, July 29th. Finally, FBR & Co restated a “buy” rating and issued a $42.00 price objective on shares of National Oilwell Varco in a report on Thursday, August 31st. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $38.61.

Shares of National Oilwell Varco, Inc. (NYSE NOV) opened at 34.72 on Wednesday. The firm’s market capitalization is $13.19 billion. The firm’s 50-day moving average is $33.46 and its 200-day moving average is $33.89. National Oilwell Varco, Inc. has a 12-month low of $29.90 and a 12-month high of $43.63.

National Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.14). The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.78 billion. National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. National Oilwell Varco’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.30) earnings per share. Equities research analysts forecast that National Oilwell Varco, Inc. will post ($0.41) EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.57%. National Oilwell Varco’s dividend payout ratio (DPR) is -3.31%.

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.

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

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