Ngam Advisors L.P. increased its stake in National Oilwell Varco, Inc. (NYSE:NOV) by 1.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 151,959 shares of the oil and gas exploration company’s stock after buying an additional 2,884 shares during the period. Ngam Advisors L.P.’s holdings in National Oilwell Varco were worth $6,092,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its position in National Oilwell Varco by 6.8% in the first quarter. Quadrant Capital Group LLC now owns 3,214 shares of the oil and gas exploration company’s stock valued at $122,000 after buying an additional 205 shares during the period. WMS Partners LLC bought a new position in National Oilwell Varco during the first quarter valued at $200,000. IFM Investors Pty Ltd bought a new position in National Oilwell Varco during the fourth quarter valued at $202,000. Murphy Pohlad Asset Management LLC bought a new position in National Oilwell Varco during the first quarter valued at $203,000. Finally, Tiedemann Wealth Management LLC bought a new position in National Oilwell Varco during the first quarter valued at $203,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

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

National Oilwell Varco, Inc. (NOV) traded up 2.59% during mid-day trading on Friday, hitting $33.66. 3,536,432 shares of the company were exchanged. The company’s 50-day moving average is $33.66 and its 200 day moving average is $37.36. National Oilwell Varco, Inc. has a 12-month low of $29.79 and a 12-month high of $43.63. The company’s market capitalization is $12.79 billion.

National Oilwell Varco (NYSE:NOV) last announced its earnings results on Wednesday, April 26th. The oil and gas exploration company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03. National Oilwell Varco had a negative net margin of 35.50% and a negative return on equity of 2.44%. The business 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. National Oilwell Varco’s quarterly revenue was down 20.5% on a year-over-year basis. Analysts expect that National Oilwell Varco, Inc. will post ($0.40) EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.59%. The ex-dividend date is Wednesday, June 14th. National Oilwell Varco’s dividend payout ratio (DPR) is currently -3.12%.

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NOV has been the subject of several research analyst reports. Vetr cut shares of National Oilwell Varco from a “strong-buy” rating to a “buy” rating and set a $43.33 price objective for the company. in a research report on Thursday, April 6th. Argus upgraded shares of National Oilwell Varco from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Friday, March 3rd. Tudor Pickering initiated coverage on shares of National Oilwell Varco in a research report on Thursday, March 23rd. They issued a “hold” rating for the company. Scotiabank restated a “hold” rating and issued a $37.00 price objective on shares of National Oilwell Varco in a research report on Wednesday, March 22nd. Finally, Zacks Investment Research cut shares of National Oilwell Varco from a “buy” rating to a “hold” rating in a research report on Monday, February 20th. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. National Oilwell Varco presently has an average rating of “Hold” and a consensus target price of $38.83.

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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