Legal & General Group Plc grew its position in National Oilwell Varco, Inc. (NYSE:NOV) by 5.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,169,053 shares of the oil and gas exploration company’s stock after purchasing an additional 106,617 shares during the quarter. Legal & General Group Plc owned approximately 0.57% of National Oilwell Varco worth $77,496,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. IHT Wealth Management LLC boosted its stake in shares of National Oilwell Varco by 1,923.1% in the 2nd quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock valued at $112,000 after purchasing an additional 500 shares during the last quarter. Chicago Partners Investment Group LLC bought a new position in National Oilwell Varco during the second quarter worth $194,000. IBM Retirement Fund bought a new position in National Oilwell Varco during the third quarter worth $200,000. Wrapmanager Inc. bought a new position in National Oilwell Varco during the third quarter worth $202,000. Finally, Lakeview Capital Partners LLC boosted its stake in National Oilwell Varco by 2.6% during the second quarter. Lakeview Capital Partners LLC now owns 6,194 shares of the oil and gas exploration company’s stock worth $204,000 after acquiring an additional 155 shares in the last quarter. 92.57% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on the stock. Royal Bank Of Canada reissued a “hold” rating on shares of National Oilwell Varco in a research note on Friday, September 1st. Scotiabank set a $37.00 target price on shares of National Oilwell Varco and gave the stock a “hold” rating in a research note on Friday, October 27th. Cowen set a $30.00 target price on shares of National Oilwell Varco and gave the stock a “hold” rating in a research note on Friday, October 6th. Capital One Financial reissued an “equal weight” rating on shares of National Oilwell Varco in a research note on Friday, October 27th. Finally, R. F. Lafferty cut their target price on shares of National Oilwell Varco from $33.00 to $31.00 and set a “hold” rating on the stock in a research note on Monday, November 6th. Five research analysts have rated the stock with a sell rating, twenty have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $38.00.
National Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. National Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the firm earned ($0.34) earnings per share. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. equities research analysts predict that National Oilwell Varco, Inc. will post -0.41 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Thursday, December 7th. National Oilwell Varco’s dividend payout ratio (DPR) is -8.03%.
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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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