Mackay Shields LLC Purchases Shares of 63,970 National Oilwell Varco (NOV)

Mackay Shields LLC purchased a new position in shares of National Oilwell Varco (NYSE:NOV) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 63,970 shares of the oil and gas exploration company’s stock, valued at approximately $2,355,000.

Other large investors have also modified their holdings of the company. National Pension Service lifted its holdings in National Oilwell Varco by 10.3% in the fourth quarter. National Pension Service now owns 426,721 shares of the oil and gas exploration company’s stock valued at $15,370,000 after buying an additional 39,906 shares during the period. Koshinski Asset Management Inc. lifted its holdings in National Oilwell Varco by 91.5% in the fourth quarter. Koshinski Asset Management Inc. now owns 14,678 shares of the oil and gas exploration company’s stock valued at $529,000 after buying an additional 7,014 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in National Oilwell Varco by 4.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,719,982 shares of the oil and gas exploration company’s stock valued at $61,954,000 after buying an additional 66,083 shares during the period. State of Alaska Department of Revenue lifted its holdings in National Oilwell Varco by 56.7% in the fourth quarter. State of Alaska Department of Revenue now owns 61,708 shares of the oil and gas exploration company’s stock valued at $2,221,000 after buying an additional 22,330 shares during the period. Finally, Hudson Capital Management LLC acquired a new position in National Oilwell Varco in the fourth quarter valued at $331,000. Institutional investors own 93.10% of the company’s stock.

In other National Oilwell Varco news, VP Scott K. Duff sold 7,421 shares of the company’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $35.66, for a total value of $264,632.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Scott K. Duff sold 40,459 shares of the company’s stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $41.02, for a total transaction of $1,659,628.18. Following the completion of the sale, the vice president now directly owns 72,697 shares of the company’s stock, valued at $2,982,030.94. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

NYSE:NOV opened at $43.42 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.89 and a current ratio of 3.37. National Oilwell Varco has a one year low of $29.90 and a one year high of $43.43.

National Oilwell Varco (NYSE:NOV) last posted its earnings results on Thursday, April 26th. The oil and gas exploration company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.13). The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.81 billion. National Oilwell Varco had a negative return on equity of 1.15% and a negative net margin of 2.49%. sell-side analysts expect that National Oilwell Varco will post 0.1 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Thursday, June 14th. National Oilwell Varco’s payout ratio is presently -47.62%.

Several equities research analysts have weighed in on the stock. ValuEngine raised shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Friday, March 23rd. B. Riley set a $42.00 price target on shares of National Oilwell Varco and gave the company a “buy” rating in a research note on Friday, January 19th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $40.00 price target on shares of National Oilwell Varco in a research note on Friday, January 19th. TheStreet raised shares of National Oilwell Varco from a “d+” rating to a “c” rating in a research note on Tuesday, February 6th. Finally, Societe Generale downgraded shares of National Oilwell Varco from a “buy” rating to a “hold” rating and lifted their price target for the company from $38.32 to $41.00 in a research note on Thursday, April 19th. Four investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have assigned a buy rating to the company. National Oilwell Varco presently has a consensus rating of “Hold” and an average target price of $37.22.

About National Oilwell Varco

National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

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

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