National-Oilwell Varco, Inc. (NOV) Short Interest Update
National-Oilwell Varco, Inc. (NYSE:NOV) was the recipient of a significant drop in short interest in the month of March. As of March 29th, there was short interest totalling 11,314,084 shares, a drop of 22.4% from the March 15th total of 14,578,560 shares. Based on an average daily volume of 3,250,074 shares, the days-to-cover ratio is currently 3.5 days. Approximately 3.0% of the shares of the company are short sold.
In other National-Oilwell Varco news, VP Scott K. Duff sold 15,125 shares of the stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $28.02, for a total transaction of $423,802.50. Following the completion of the transaction, the vice president now owns 54,098 shares in the company, valued at $1,515,825.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Truvestments Capital LLC purchased a new position in shares of National-Oilwell Varco during the first quarter worth approximately $26,000. IMS Capital Management purchased a new position in shares of National-Oilwell Varco during the third quarter worth approximately $44,000. JOYN Advisors Inc. raised its stake in shares of National-Oilwell Varco by 166.2% during the fourth quarter. JOYN Advisors Inc. now owns 1,046 shares of the oil and gas exploration company’s stock worth $27,000 after acquiring an additional 653 shares in the last quarter. Enlightenment Research LLC purchased a new position in shares of National-Oilwell Varco during the fourth quarter worth approximately $28,000. Finally, Moody National Bank Trust Division raised its stake in shares of National-Oilwell Varco by 125.0% during the first quarter. Moody National Bank Trust Division now owns 1,233 shares of the oil and gas exploration company’s stock worth $33,000 after acquiring an additional 685 shares in the last quarter. Institutional investors and hedge funds own 93.47% of the company’s stock.
Shares of National-Oilwell Varco stock opened at $27.53 on Tuesday. National-Oilwell Varco has a 1 year low of $24.27 and a 1 year high of $49.08. The company has a market cap of $11.25 billion, a price-to-earnings ratio of -344.13, a P/E/G ratio of 25.81 and a beta of 1.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.11 and a quick ratio of 1.83.
National-Oilwell Varco (NYSE:NOV) last announced its earnings results on Wednesday, February 6th. The oil and gas exploration company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.05). National-Oilwell Varco had a negative net margin of 0.37% and a negative return on equity of 0.22%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. Equities research analysts predict that National-Oilwell Varco will post 0.19 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.20 annualized dividend and a yield of 0.73%. National-Oilwell Varco’s payout ratio is presently -250.00%.
ILLEGAL ACTIVITY WARNING: This article was reported by Watch List News and is the property of of Watch List News. If you are viewing this article on another publication, it was stolen and republished in violation of US and international copyright legislation. The legal version of this article can be viewed at https://www.watchlistnews.com/national-oilwell-varco-inc-nov-short-interest-update/2965099.html.
National-Oilwell Varco Company Profile
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.
Featured Article: Price to Earnings Ratio (PE)
Receive News & Ratings for National-Oilwell Varco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National-Oilwell Varco and related companies with MarketBeat.com's FREE daily email newsletter.