National Oilwell Varco, Inc. (NYSE:NOV) Position Increased by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management increased its stake in National Oilwell Varco, Inc. (NYSE:NOV) by 5.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,960 shares of the oil and gas exploration company’s stock after buying an additional 765 shares during the period. Hanson & Doremus Investment Management’s holdings in National Oilwell Varco were worth $493,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. AQR Capital Management LLC increased its stake in shares of National Oilwell Varco by 98.0% in the fourth quarter. AQR Capital Management LLC now owns 18,411 shares of the oil and gas exploration company’s stock valued at $689,000 after buying an additional 9,113 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of National Oilwell Varco by 5.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 13,120 shares of the oil and gas exploration company’s stock valued at $491,000 after buying an additional 724 shares during the period. Teachers Advisors LLC increased its stake in shares of National Oilwell Varco by 1.8% in the fourth quarter. Teachers Advisors LLC now owns 755,987 shares of the oil and gas exploration company’s stock valued at $28,304,000 after buying an additional 13,547 shares during the period. Kentucky Retirement Systems acquired a new position in National Oilwell Varco during the fourth quarter worth approximately $1,026,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in National Oilwell Varco during the fourth quarter worth approximately $458,000. Institutional investors own 91.63% of the company’s stock.

National Oilwell Varco, Inc. (NOV) traded up 0.96% during mid-day trading on Friday, hitting $30.38. The stock had a trading volume of 3,656,682 shares. National Oilwell Varco, Inc. has a 12-month low of $29.90 and a 12-month high of $43.63. The company has a 50-day moving average of $32.47 and a 200-day moving average of $35.46. The stock’s market cap is $11.55 billion.

National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.14). The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.78 billion. National Oilwell Varco had a negative return on equity of 2.12% and a negative net margin of 33.24%. The business’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.30) earnings per share. On average, analysts anticipate that National Oilwell Varco, Inc. will post ($0.39) earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.66%. National Oilwell Varco’s dividend payout ratio is presently -3.31%.

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A number of research firms have recently commented on NOV. Jefferies Group LLC set a $38.00 price objective on National Oilwell Varco and gave the company a “hold” rating in a report on Thursday, April 27th. BidaskClub upgraded National Oilwell Varco from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Piper Jaffray Companies set a $37.00 price objective on National Oilwell Varco and gave the company a “buy” rating in a report on Thursday, July 27th. Scotiabank set a $37.00 price objective on National Oilwell Varco and gave the company a “hold” rating in a report on Friday, July 28th. Finally, SunTrust Banks, Inc. downgraded National Oilwell Varco from a “hold” rating to a “sell” rating and increased their price objective for the company from $29.00 to $50.00 in a report on Monday, August 7th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $39.09.

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.

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

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