Renaissance Technologies LLC lifted its stake in shares of National-Oilwell Varco, Inc. (NYSE:NOV) by 86.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,639,210 shares of the oil and gas exploration company’s stock after purchasing an additional 760,500 shares during the quarter. Renaissance Technologies LLC owned about 0.43% of National-Oilwell Varco worth $59,044,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Dupont Capital Management Corp purchased a new stake in shares of National-Oilwell Varco during the fourth quarter worth approximately $141,000. Global Trust Asset Management LLC purchased a new stake in shares of National-Oilwell Varco during the fourth quarter worth approximately $160,000. Cadence Bank NA purchased a new stake in shares of National-Oilwell Varco during the fourth quarter worth approximately $201,000. IBM Retirement Fund purchased a new stake in shares of National-Oilwell Varco during the third quarter worth approximately $200,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in shares of National-Oilwell Varco during the fourth quarter worth approximately $209,000. Institutional investors and hedge funds own 93.57% of the company’s stock.
In other news, VP Scott K. Duff sold 7,421 shares of the firm’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $35.66, for a total value of $264,632.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.58% of the company’s stock.
NOV has been the subject of several analyst reports. Royal Bank of Canada restated a “hold” rating and set a $40.00 price target on shares of National-Oilwell Varco in a research note on Friday, January 19th. ValuEngine cut National-Oilwell Varco from a “hold” rating to a “sell” rating in a research note on Wednesday, November 15th. TheStreet upgraded National-Oilwell Varco from a “d+” rating to a “c” rating in a research note on Tuesday, February 6th. Cowen set a $33.00 price objective on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Thursday, January 11th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $34.00 price objective on shares of National-Oilwell Varco in a research report on Thursday, December 21st. Five investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $37.55.
National-Oilwell Varco, Inc. (NOV) opened at $37.31 on Wednesday. National-Oilwell Varco, Inc. has a 52-week low of $29.90 and a 52-week high of $40.90. The firm has a market capitalization of $14,293.40, a price-to-earnings ratio of -59.22, a PEG ratio of 24.04 and a beta of 0.88. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.07 and a quick ratio of 1.79.
National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). National-Oilwell Varco had a negative return on equity of 1.10% and a negative net margin of 3.24%. The business had revenue of $1.97 billion during the quarter. During the same quarter in the prior year, the business earned ($0.15) EPS. sell-side analysts forecast that National-Oilwell Varco, Inc. will post 0.26 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, March 15th. National-Oilwell Varco’s dividend payout ratio is currently -31.75%.
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.
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