Reliance Trust Co. of Delaware reduced its position in National Oilwell Varco, Inc. (NYSE:NOV) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,947 shares of the oil and gas exploration company’s stock after selling 381 shares during the period. Reliance Trust Co. of Delaware’s holdings in National Oilwell Varco were worth $987,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of NOV. AQR Capital Management LLC increased its stake in 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 worth $689,000 after buying an additional 9,113 shares during the period. Thrivent Financial for Lutherans increased its stake in 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 worth $491,000 after buying an additional 724 shares during the last quarter. Teachers Advisors LLC increased its stake in 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 worth $28,304,000 after buying an additional 13,547 shares during the last quarter. Kentucky Retirement Systems bought a new stake in National Oilwell Varco during the fourth quarter worth $1,026,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in National Oilwell Varco during the fourth quarter worth $458,000. Institutional investors and hedge funds own 91.63% of the company’s stock.
Shares of National Oilwell Varco, Inc. (NYSE NOV) opened at 30.38 on Friday. The company’s 50 day moving average is $32.47 and its 200 day moving average is $35.46. National Oilwell Varco, Inc. has a 52-week low of $29.90 and a 52-week high of $43.63. The firm’s market cap is $11.55 billion.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.66%. National Oilwell Varco’s dividend payout ratio is currently -3.31%.
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Several research analysts have recently commented on the company. Piper Jaffray Companies set a $37.00 target price on National Oilwell Varco and gave the stock a “buy” rating in a report on Thursday, July 27th. Loop Capital upgraded shares of National Oilwell Varco from a “hold” rating to a “buy” rating and set a $29.94 price objective for the company in a research report on Thursday. Jefferies Group LLC set a $38.00 price objective on shares of National Oilwell Varco and gave the stock a “hold” rating in a research report on Wednesday, May 31st. ValuEngine upgraded shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, Cowen and Company restated a “hold” rating and issued a $37.00 price objective on shares of National Oilwell Varco in a research report on Tuesday, July 11th. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $38.63.
About National Oilwell Varco
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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