Peddock Capital Advisors LLC raised its position in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 1.7% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 9,188 shares of the oil and gas exploration company’s stock after buying an additional 150 shares during the period. Peddock Capital Advisors LLC’s holdings in National Oilwell Varco were worth $303,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. boosted its stake in National Oilwell Varco by 3,189.2% in the first quarter. BlackRock Inc. now owns 24,841,300 shares of the oil and gas exploration company’s stock worth $995,890,000 after buying an additional 24,086,060 shares in the last quarter. FMR LLC boosted its stake in National Oilwell Varco by 35.3% in the first quarter. FMR LLC now owns 9,054,139 shares of the oil and gas exploration company’s stock worth $362,980,000 after buying an additional 2,363,202 shares in the last quarter. Schroder Investment Management Group boosted its stake in National Oilwell Varco by 37,171.5% in the first quarter. Schroder Investment Management Group now owns 1,515,460 shares of the oil and gas exploration company’s stock worth $60,723,000 after buying an additional 1,511,394 shares in the last quarter. Morgan Stanley boosted its stake in National Oilwell Varco by 36.3% in the first quarter. Morgan Stanley now owns 4,218,392 shares of the oil and gas exploration company’s stock worth $169,114,000 after buying an additional 1,124,578 shares in the last quarter. Finally, Harris Associates L P boosted its stake in National Oilwell Varco by 7.2% in the first quarter. Harris Associates L P now owns 16,017,269 shares of the oil and gas exploration company’s stock worth $642,133,000 after buying an additional 1,080,775 shares in the last quarter. Institutional investors own 91.63% of the company’s stock.

Shares of National Oilwell Varco, Inc. (NYSE NOV) opened at 30.38 on Monday. The firm has a 50-day moving average price of $32.47 and a 200-day moving average price of $35.46. The stock’s market cap is $11.55 billion. National Oilwell Varco, Inc. has a one year low of $29.90 and a one year 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) EPS for the quarter, meeting 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 company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the business earned ($0.30) earnings per share. National Oilwell Varco’s revenue was up 2.0% compared to the same quarter last year. Analysts anticipate that National Oilwell Varco, Inc. will post ($0.39) earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.66%. National Oilwell Varco’s payout ratio is currently -3.31%.

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A number of analysts have weighed in on NOV shares. ValuEngine upgraded National Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. BMO Capital Markets restated a “sell” rating and issued a $30.00 price target on shares of National Oilwell Varco in a research note on Thursday, June 22nd. UBS AG restated a “neutral” rating and issued a $37.00 price target (down from $38.00) on shares of National Oilwell Varco in a research note on Monday, July 31st. Morgan Stanley restated an “overweight” rating and issued a $50.00 price target (down from $60.00) on shares of National Oilwell Varco in a research note on Wednesday, June 21st. Finally, Credit Suisse Group set a $35.00 price target on National Oilwell Varco and gave the company a “hold” rating in a research note on Saturday, July 29th. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $39.09.

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.

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

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