Franklin Resources Inc. lessened its holdings in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 6.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,773 shares of the oil and gas exploration company’s stock after selling 940 shares during the period. Franklin Resources Inc.’s holdings in National Oilwell Varco were worth $454,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tredje AP fonden lifted its holdings in National Oilwell Varco by 1.2% in the 2nd quarter. Tredje AP fonden now owns 79,050 shares of the oil and gas exploration company’s stock worth $2,608,000 after buying an additional 948 shares during the period. IFM Investors Pty Ltd purchased a new position in shares of National Oilwell Varco during the second quarter valued at approximately $387,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of National Oilwell Varco during the second quarter valued at approximately $1,060,000. Calamos Advisors LLC increased its stake in shares of National Oilwell Varco by 2.7% during the second quarter. Calamos Advisors LLC now owns 75,445 shares of the oil and gas exploration company’s stock valued at $2,485,000 after buying an additional 1,998 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of National Oilwell Varco by 0.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,025 shares of the oil and gas exploration company’s stock valued at $1,055,000 after buying an additional 246 shares during the period. 90.29% of the stock is owned by institutional investors and hedge funds.

National Oilwell Varco, Inc. (NYSE:NOV) opened at 35.13 on Wednesday. The company’s market capitalization is $13.35 billion. The company has a 50-day moving average price of $32.73 and a 200 day moving average price of $34.02. National Oilwell Varco, Inc. has a 52-week low of $29.90 and a 52-week high of $43.63.

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

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

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A number of brokerages recently commented on NOV. Piper Jaffray Companies set a $37.00 target price on National Oilwell Varco and gave the company a “buy” rating in a report on Thursday, July 27th. Loop Capital upgraded shares of National Oilwell Varco from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Thursday, August 17th. FBR & Co reiterated a “buy” rating and issued a $42.00 price target on shares of National Oilwell Varco in a report on Thursday, August 31st. Credit Suisse Group set a $35.00 price objective on shares of National Oilwell Varco and gave the company a “hold” rating in a research report on Saturday, July 29th. Finally, Scotiabank set a $37.00 price objective on shares of National Oilwell Varco and gave the company a “hold” rating in a research report on Friday, July 28th. Four equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. National Oilwell Varco has a consensus rating of “Hold” and an average price target of $38.82.

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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