Northern Trust Corp Has $119.19 Million Stock Position in National-Oilwell Varco, Inc. (NYSE:NOV)

Northern Trust Corp boosted its holdings in shares of National-Oilwell Varco, Inc. (NYSE:NOV) by 4.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,361,481 shares of the oil and gas exploration company’s stock after buying an additional 216,117 shares during the period. Northern Trust Corp owned approximately 1.39% of National-Oilwell Varco worth $119,186,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. TRUE Private Wealth Advisors acquired a new position in National-Oilwell Varco during the second quarter valued at $26,000. Berman Capital Advisors LLC grew its stake in National-Oilwell Varco by 385.0% in the second quarter. Berman Capital Advisors LLC now owns 1,387 shares of the oil and gas exploration company’s stock valued at $30,000 after purchasing an additional 1,101 shares in the last quarter. Investors Research Corp grew its stake in National-Oilwell Varco by 250.0% in the second quarter. Investors Research Corp now owns 1,400 shares of the oil and gas exploration company’s stock valued at $31,000 after purchasing an additional 1,000 shares in the last quarter. Rational Advisors LLC grew its stake in National-Oilwell Varco by 375.4% in the second quarter. Rational Advisors LLC now owns 1,664 shares of the oil and gas exploration company’s stock valued at $37,000 after purchasing an additional 1,314 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC purchased a new position in National-Oilwell Varco in the second quarter valued at about $103,000. 94.27% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Eric L. Mattson sold 4,750 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $21.02, for a total transaction of $99,845.00. Following the completion of the sale, the director now owns 64,503 shares in the company, valued at approximately $1,355,853.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joseph W. Rovig sold 22,640 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $18.37, for a total value of $415,896.80. Following the sale, the insider now owns 73,867 shares of the company’s stock, valued at approximately $1,356,936.79. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company’s stock.

A number of brokerages have commented on NOV. Jefferies Financial Group upgraded National-Oilwell Varco from a “hold” rating to a “buy” rating and boosted their target price for the company from $23.00 to $25.00 in a research note on Thursday, September 5th. Susquehanna Bancshares upgraded National-Oilwell Varco from a “neutral” rating to a “positive” rating and set a $25.00 target price on the stock in a research note on Monday, August 12th. Zacks Investment Research downgraded National-Oilwell Varco from a “hold” rating to a “strong sell” rating in a research note on Monday, May 20th. Wells Fargo & Co boosted their target price on National-Oilwell Varco from $22.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, AltaCorp Capital restated an “underperform” rating on shares of National-Oilwell Varco in a research note on Thursday, June 20th. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $31.61.

Shares of NOV traded down $0.07 during trading hours on Friday, hitting $23.03. 75,110 shares of the company were exchanged, compared to its average volume of 4,038,591. The company has a market cap of $9.16 billion, a PE ratio of -287.88, a PEG ratio of 58.62 and a beta of 1.31. The firm’s 50 day moving average is $20.69 and its 200-day moving average is $23.56. National-Oilwell Varco, Inc. has a 52 week low of $18.05 and a 52 week high of $46.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.76 and a current ratio of 3.05.

National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Monday, July 29th. The oil and gas exploration company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.03. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.08 billion. National-Oilwell Varco had a negative return on equity of 0.64% and a negative net margin of 63.23%. As a group, equities analysts forecast that National-Oilwell Varco, Inc. will post 0.03 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.87%. National-Oilwell Varco’s dividend payout ratio (DPR) is presently -250.00%.

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.

Recommended Story: What is total return in investing?

Want to see what other hedge funds are holding NOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National-Oilwell Varco, Inc. (NYSE:NOV).

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

Receive News & Ratings for National-Oilwell Varco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National-Oilwell Varco and related companies with MarketBeat.com's FREE daily email newsletter.