Suntrust Banks Inc. reduced its position in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,016 shares of the oil and gas exploration company’s stock after selling 1,427 shares during the period. Suntrust Banks Inc.’s holdings in National Oilwell Varco were worth $1,613,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. FNY Partners Fund LP acquired a new position in shares of National Oilwell Varco during the first quarter worth $120,000. Exane Derivatives increased its holdings in National Oilwell Varco by 113.8% in the second quarter. Exane Derivatives now owns 3,985 shares of the oil and gas exploration company’s stock valued at $131,000 after buying an additional 2,121 shares during the last quarter. WMS Partners LLC purchased a new position in National Oilwell Varco in the first quarter valued at $200,000. United Capital Financial Advisers LLC purchased a new position in National Oilwell Varco in the first quarter valued at $206,000. Finally, Harfst & Associates Inc. purchased a new position in National Oilwell Varco in the first quarter valued at $209,000. 90.29% of the stock is owned by institutional investors and hedge funds.

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National Oilwell Varco, Inc. (NYSE:NOV) opened at 35.73 on Monday. The firm’s market capitalization is $13.58 billion. The firm has a 50-day moving average of $31.57 and a 200 day moving average of $34.23. 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 earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.14). The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.78 billion. National Oilwell Varco had a negative return on equity of 2.12% and a negative net margin of 33.24%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.30) earnings per share. Analysts predict that National Oilwell Varco, Inc. will post ($0.41) earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Thursday, September 14th. National Oilwell Varco’s dividend payout ratio (DPR) is -3.31%.

A number of research firms have weighed in on NOV. Piper Jaffray Companies upgraded National Oilwell Varco from a “neutral” rating to an “overweight” rating and raised their price target for the company from $36.00 to $37.00 in a research note on Tuesday, June 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 price objective (down from $60.00) on shares of National Oilwell Varco in a research report on Wednesday, June 21st. BMO Capital Markets reaffirmed a “sell” rating and set a $30.00 price objective on shares of National Oilwell Varco in a research report on Thursday, June 22nd. BidaskClub raised National Oilwell Varco from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, Wells Fargo & Company reiterated a “market perform” rating on shares of National Oilwell Varco in a report on Monday, July 10th. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $38.82.

National Oilwell Varco 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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