National Oilwell Varco (NOV) Position Reduced by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its stake in National Oilwell Varco (NYSE:NOV) by 1.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,408 shares of the oil and gas exploration company’s stock after selling 1,760 shares during the period. Envestnet Asset Management Inc.’s holdings in National Oilwell Varco were worth $3,662,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in NOV. Schwab Charles Investment Management Inc. boosted its stake in National Oilwell Varco by 4.0% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,719,982 shares of the oil and gas exploration company’s stock worth $61,954,000 after purchasing an additional 66,083 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in National Oilwell Varco by 56.7% in the 4th quarter. State of Alaska Department of Revenue now owns 61,708 shares of the oil and gas exploration company’s stock worth $2,221,000 after purchasing an additional 22,330 shares in the last quarter. SG Americas Securities LLC boosted its stake in National Oilwell Varco by 53.3% in the 4th quarter. SG Americas Securities LLC now owns 77,311 shares of the oil and gas exploration company’s stock worth $2,785,000 after purchasing an additional 26,876 shares in the last quarter. Jennison Associates LLC acquired a new stake in National Oilwell Varco in the 4th quarter worth approximately $724,000. Finally, Eqis Capital Management Inc. acquired a new stake in National Oilwell Varco in the 4th quarter worth approximately $213,000. Institutional investors own 94.00% of the company’s stock.

NOV stock opened at $41.26 on Friday. The company has a market capitalization of $16.39 billion, a PE ratio of -98.24, a PEG ratio of 71.03 and a beta of 0.81. National Oilwell Varco has a twelve month low of $29.90 and a twelve month high of $45.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.37 and a quick ratio of 1.89.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Thursday, June 14th. National Oilwell Varco’s payout ratio is currently -47.62%.

In related news, VP Scott K. Duff sold 7,421 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $35.66, for a total transaction of $264,632.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Craig L. Weinstock sold 5,000 shares of the stock in a transaction on Monday, May 21st. The stock was sold at an average price of $44.03, for a total value of $220,150.00. Following the sale, the vice president now directly owns 46,372 shares of the company’s stock, valued at $2,041,759.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,880 shares of company stock valued at $2,144,411. Corporate insiders own 0.79% of the company’s stock.

NOV has been the subject of a number of research analyst reports. B. Riley set a $42.00 price target on National Oilwell Varco and gave the company a “buy” rating in a report on Thursday, February 8th. ValuEngine raised National Oilwell Varco from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Argus reaffirmed a “buy” rating and issued a $51.00 price target on shares of National Oilwell Varco in a report on Thursday, May 17th. TheStreet raised National Oilwell Varco from a “d+” rating to a “c” rating in a report on Tuesday, February 6th. Finally, Barclays set a $37.00 price target on National Oilwell Varco and gave the company an “equal weight” rating in a report on Thursday, February 8th. Four investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $37.63.

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.

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

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