Montecito Bank & Trust raised its stake in National-Oilwell Varco, Inc. (NYSE:NOV) by 31.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,150 shares of the oil and gas exploration company’s stock after buying an additional 2,671 shares during the quarter. Montecito Bank & Trust’s holdings in National-Oilwell Varco were worth $481,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in NOV. Nuveen Asset Management LLC acquired a new position in National-Oilwell Varco in the first quarter valued at about $395,000. Bayesian Capital Management LP acquired a new position in National-Oilwell Varco in the first quarter valued at about $309,000. Element Capital Management LLC acquired a new position in National-Oilwell Varco in the first quarter valued at about $267,000. Earnest Partners LLC lifted its stake in National-Oilwell Varco by 13,885.1% in the first quarter. Earnest Partners LLC now owns 40,417 shares of the oil and gas exploration company’s stock valued at $1,488,000 after buying an additional 40,128 shares during the period. Finally, Amundi Pioneer Asset Management Inc. lifted its stake in National-Oilwell Varco by 13.0% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 152,542 shares of the oil and gas exploration company’s stock valued at $5,616,000 after buying an additional 17,532 shares during the period. 95.63% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:NOV opened at $41.91 on Friday. The company has a quick ratio of 1.75, a current ratio of 3.19 and a debt-to-equity ratio of 0.19. The stock has a market cap of $16.48 billion, a P/E ratio of -99.79, a PEG ratio of 46.67 and a beta of 0.93. National-Oilwell Varco, Inc. has a 52-week low of $31.47 and a 52-week high of $49.08.
National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data on Thursday, July 26th. The oil and gas exploration company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.04. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2 billion. National-Oilwell Varco had a negative return on equity of 0.60% and a negative net margin of 1.09%. National-Oilwell Varco’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period last year, the company earned ($0.14) earnings per share. On average, research analysts predict that National-Oilwell Varco, Inc. will post 0.15 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.48%. National-Oilwell Varco’s payout ratio is presently -47.62%.
In other news, Director Eric L. Mattson sold 4,338 shares of National-Oilwell Varco stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $45.65, for a total transaction of $198,029.70. Following the completion of the transaction, the director now directly owns 76,484 shares in the company, valued at approximately $3,491,494.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Craig L. Weinstock sold 3,709 shares of National-Oilwell Varco stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $48.02, for a total value of $178,106.18. Following the transaction, the vice president now owns 42,663 shares of the company’s stock, valued at $2,048,677.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 514,559 shares of company stock valued at $24,588,009. 0.79% of the stock is owned by corporate insiders.
Several equities analysts have weighed in on the company. Barclays increased their target price on National-Oilwell Varco from $37.00 to $44.00 and gave the company a “hold” rating in a research note on Monday, July 30th. Cowen reissued a “hold” rating and issued a $45.00 target price on shares of National-Oilwell Varco in a research note on Friday. Stifel Nicolaus assumed coverage on National-Oilwell Varco in a research note on Monday, September 10th. They issued a “buy” rating and a $54.00 target price on the stock. Credit Suisse Group set a $43.00 target price on National-Oilwell Varco and gave the company a “hold” rating in a research note on Monday, July 30th. Finally, Raymond James raised their price target on National-Oilwell Varco from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, July 30th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have given a buy rating to the company’s stock. National-Oilwell Varco currently has a consensus rating of “Hold” and a consensus target price of $44.32.
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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