National Oilwell Varco, Inc. (NOV) Position Cut by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. reduced its position in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 26.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,691 shares of the oil and gas exploration company’s stock after selling 4,150 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in National Oilwell Varco were worth $385,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NOV. BlackRock Inc. increased its position in National Oilwell Varco by 3,189.2% during the first quarter. BlackRock Inc. now owns 24,841,300 shares of the oil and gas exploration company’s stock worth $995,890,000 after purchasing an additional 24,086,060 shares during the last quarter. FMR LLC increased its position in National Oilwell Varco by 35.3% during the first quarter. FMR LLC now owns 9,054,139 shares of the oil and gas exploration company’s stock worth $362,980,000 after purchasing an additional 2,363,202 shares during the last quarter. Schroder Investment Management Group increased its position in National Oilwell Varco by 37,171.5% during the first quarter. Schroder Investment Management Group now owns 1,515,460 shares of the oil and gas exploration company’s stock worth $60,723,000 after purchasing an additional 1,511,394 shares during the last quarter. American Century Companies Inc. increased its position in National Oilwell Varco by 33.6% during the second quarter. American Century Companies Inc. now owns 5,924,558 shares of the oil and gas exploration company’s stock worth $195,155,000 after purchasing an additional 1,491,359 shares during the last quarter. Finally, Morgan Stanley increased its position in National Oilwell Varco by 36.3% during the first quarter. Morgan Stanley now owns 4,218,392 shares of the oil and gas exploration company’s stock worth $169,114,000 after purchasing an additional 1,124,578 shares during the last quarter. Hedge funds and other institutional investors own 90.32% of the company’s stock.

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Several 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 Tuesday, July 11th. BMO Capital Markets reaffirmed a “sell” rating and set a $30.00 target price on shares of National Oilwell Varco in a research note on Thursday, June 22nd. UBS AG reaffirmed a “neutral” rating and set a $37.00 target price (down previously from $38.00) on shares of National Oilwell Varco in a research note on Monday, July 31st. Loop Capital raised shares of National Oilwell Varco from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Thursday, August 17th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 target price (down previously from $60.00) on shares of National Oilwell Varco in a research note on Wednesday, June 21st. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. National Oilwell Varco presently has a consensus rating of “Hold” and a consensus price target of $38.82.

Shares of National Oilwell Varco, Inc. (NYSE NOV) opened at 33.97 on Friday. The firm’s market cap is $12.91 billion. The company has a 50-day moving average of $31.43 and a 200 day moving average of $34.45. National Oilwell Varco, Inc. has a one year low of $29.90 and a one year high of $43.63.

National Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.14). The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.78 billion. National Oilwell Varco had a negative return on equity of 2.12% and a negative net margin of 33.24%. National Oilwell Varco’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.30) EPS. On average, equities research analysts expect that National Oilwell Varco, Inc. will post ($0.40) EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Thursday, September 14th. National Oilwell Varco’s dividend payout ratio is presently -3.31%.

National Oilwell Varco Company Profile

National Oilwell Varco, Inc is an oilfield equipment manufacturer and technology provider. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies and Completion & Production Solutions. The Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore.

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

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