DekaBank Deutsche Girozentrale Lowers Stake in National Oilwell Varco (NOV)

DekaBank Deutsche Girozentrale reduced its position in shares of National Oilwell Varco (NYSE:NOV) by 68.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 36,365 shares of the oil and gas exploration company’s stock after selling 79,299 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in National Oilwell Varco were worth $1,379,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its position in National Oilwell Varco by 0.3% in the fourth quarter. BlackRock Inc. now owns 25,257,983 shares of the oil and gas exploration company’s stock worth $909,792,000 after buying an additional 78,663 shares during the last quarter. Parnassus Investments CA lifted its position in National Oilwell Varco by 10.1% in the fourth quarter. Parnassus Investments CA now owns 6,929,938 shares of the oil and gas exploration company’s stock worth $249,616,000 after buying an additional 637,925 shares during the last quarter. American Century Companies Inc. lifted its position in National Oilwell Varco by 4.2% in the fourth quarter. American Century Companies Inc. now owns 6,390,274 shares of the oil and gas exploration company’s stock worth $230,178,000 after buying an additional 255,563 shares during the last quarter. Wells Fargo & Company MN lifted its position in National Oilwell Varco by 3.1% in the first quarter. Wells Fargo & Company MN now owns 5,354,118 shares of the oil and gas exploration company’s stock worth $197,086,000 after buying an additional 159,249 shares during the last quarter. Finally, Lyrical Asset Management LP lifted its position in National Oilwell Varco by 5.9% in the fourth quarter. Lyrical Asset Management LP now owns 4,687,024 shares of the oil and gas exploration company’s stock worth $168,827,000 after buying an additional 261,103 shares during the last quarter. Hedge funds and other institutional investors own 93.10% of the company’s stock.

A number of brokerages recently issued reports on NOV. SunTrust Banks set a $31.00 price target on National Oilwell Varco and gave the stock a “hold” rating in a research report on Monday, April 16th. Cowen raised their price target on National Oilwell Varco from $33.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. TheStreet upgraded National Oilwell Varco from a “d+” rating to a “c” rating in a research report on Tuesday, February 6th. Zacks Investment Research upgraded National Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Tuesday, March 13th. Finally, Seaport Global Securities restated a “sell” rating and issued a $30.00 price target on shares of National Oilwell Varco in a research report on Monday, February 12th. Four research analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have given a buy rating to the stock. National Oilwell Varco presently has a consensus rating of “Hold” and an average target price of $37.22.

NOV stock opened at $42.93 on Friday. The firm has a market capitalization of $15.81 billion, a price-to-earnings ratio of -102.21, a price-to-earnings-growth ratio of 58.46 and a beta of 0.81. 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 twelve month low of $41.35 and a twelve month high of $42.10.

National Oilwell Varco (NYSE:NOV) last announced its quarterly 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 firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations 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 0.12 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, June 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.47%. National Oilwell Varco’s dividend payout ratio is currently -47.62%.

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 transaction of $264,632.86. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Scott K. Duff sold 40,459 shares of the firm’s stock in a transaction on Monday, May 14th. The shares were sold at an average price of $41.02, for a total value of $1,659,628.18. Following the transaction, the vice president now owns 72,697 shares in the company, valued at approximately $2,982,030.94. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

National Oilwell Varco Company Profile

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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