Goldman Sachs Group Inc. trimmed its stake in National-Oilwell Varco, Inc. (NYSE:NOV) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,743,886 shares of the oil and gas exploration company’s stock after selling 86,995 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.45% of National-Oilwell Varco worth $43,685,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Firestone Capital Management acquired a new position in shares of National-Oilwell Varco in the fourth quarter worth $45,000. Acadian Asset Management LLC acquired a new position in shares of National-Oilwell Varco in the fourth quarter worth $35,000. Evoke Wealth LLC acquired a new position in shares of National-Oilwell Varco in the third quarter worth $32,000. Americana Partners LLC acquired a new position in shares of National-Oilwell Varco in the fourth quarter worth $50,000. Finally, Peddock Capital Advisors LLC acquired a new position in shares of National-Oilwell Varco in the fourth quarter worth $73,000. 95.39% of the stock is owned by institutional investors.
A number of equities analysts have recently weighed in on NOV shares. Argus cut National-Oilwell Varco from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Bernstein Bank started coverage on National-Oilwell Varco in a report on Tuesday, January 14th. They issued a “market perform” rating for the company. AltaCorp Capital raised National-Oilwell Varco from an “underperform” rating to a “sector perform” rating in a report on Wednesday, December 18th. Sanford C. Bernstein started coverage on National-Oilwell Varco in a report on Monday, January 13th. They issued a “market perform” rating for the company. Finally, Barclays raised National-Oilwell Varco from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $25.00 to $14.00 in a report on Thursday, March 19th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $21.79.
National-Oilwell Varco stock opened at $11.02 on Thursday. The firm has a market capitalization of $4.30 billion, a P/E ratio of -0.69 and a beta of 1.31. The stock has a fifty day moving average price of $17.46 and a 200 day moving average price of $21.37. National-Oilwell Varco, Inc. has a 52 week low of $8.00 and a 52 week high of $29.37. The company has a current ratio of 2.72, a quick ratio of 1.74 and a debt-to-equity ratio of 0.25.
National-Oilwell Varco (NYSE:NOV) last released its earnings results on Thursday, February 6th. The oil and gas exploration company reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.84. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.10 billion. National-Oilwell Varco had a negative return on equity of 2.86% and a negative net margin of 71.88%. As a group, equities analysts predict that National-Oilwell Varco, Inc. will post 0.41 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.20 annualized dividend and a yield of 1.81%. National-Oilwell Varco’s dividend payout ratio is presently -27.78%.
In other news, CFO Jose A. Bayardo purchased 11,500 shares of the company’s stock in a transaction on Monday, March 16th. The stock was bought at an average cost of $8.85 per share, for a total transaction of $101,775.00. Following the completion of the purchase, the chief financial officer now directly owns 245,748 shares of the company’s stock, valued at approximately $2,174,869.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jose A. Bayardo purchased 20,000 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were purchased at an average price of $8.47 per share, with a total value of $169,400.00. Following the completion of the purchase, the chief financial officer now directly owns 245,748 shares of the company’s stock, valued at $2,081,485.56. The disclosure for this purchase can be found here. Corporate insiders own 0.92% of the company’s stock.
About National-Oilwell Varco
National Oilwell Varco, Inc designs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. It operates in three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. The Wellbore Technologies segment offers various equipment and technologies used to perform drilling operations.
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