Russell Investments Group Ltd. Sells 49,381 Shares of National Oilwell Varco, Inc. (NOV)

Russell Investments Group Ltd. cut its holdings in National Oilwell Varco, Inc. (NYSE:NOV) by 16.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 245,309 shares of the oil and gas exploration company’s stock after selling 49,381 shares during the period. Russell Investments Group Ltd. owned 0.06% of National Oilwell Varco worth $8,764,000 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. IHT Wealth Management LLC lifted its holdings in National Oilwell Varco by 1,923.1% in the second quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock valued at $112,000 after acquiring an additional 500 shares during the last quarter. Wrapmanager Inc. acquired a new position in National Oilwell Varco in the third quarter valued at approximately $202,000. Smith Salley & Associates acquired a new position in National Oilwell Varco in the third quarter valued at approximately $214,000. Lakeview Capital Partners LLC lifted its holdings in National Oilwell Varco by 2.6% in the second quarter. Lakeview Capital Partners LLC now owns 6,194 shares of the oil and gas exploration company’s stock valued at $204,000 after acquiring an additional 155 shares during the last quarter. Finally, Advisor Partners LLC acquired a new position in National Oilwell Varco in the third quarter valued at approximately $227,000. Hedge funds and other institutional investors own 92.56% of the company’s stock.

A number of research analysts recently commented on NOV shares. FBR & Co reiterated a “buy” rating and issued a $42.00 price objective on shares of National Oilwell Varco in a report on Thursday, August 31st. R. F. Lafferty decreased their price objective on National Oilwell Varco from $33.00 to $31.00 and set a “hold” rating on the stock in a report on Monday, November 6th. BidaskClub cut National Oilwell Varco from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Cowen set a $30.00 price target on National Oilwell Varco and gave the stock a “hold” rating in a research note on Friday, October 6th. Finally, Zacks Investment Research upgraded National Oilwell Varco from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Monday, October 9th. Five research analysts have rated the stock with a sell rating, nineteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $38.00.

National Oilwell Varco, Inc. (NOV) traded down $0.46 during trading hours on Thursday, reaching $32.71. The company had a trading volume of 1,894,200 shares, compared to its average volume of 3,294,290. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.62 and a current ratio of 2.75. 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, October 26th. The oil and gas exploration company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. National Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. National Oilwell Varco’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.34) earnings per share. analysts predict that National Oilwell Varco, Inc. will post -0.41 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Thursday, December 7th. National Oilwell Varco’s dividend payout ratio (DPR) is presently -8.03%.

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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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