Chevy Chase Trust Holdings Inc. lowered its position in shares of National Oilwell Varco (NYSE:NOV) by 2.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 318,511 shares of the oil and gas exploration company’s stock after selling 7,488 shares during the period. Chevy Chase Trust Holdings Inc. owned about 0.08% of National Oilwell Varco worth $11,702,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Quadrant Capital Group LLC boosted its stake in shares of National Oilwell Varco by 13.6% in the second quarter. Quadrant Capital Group LLC now owns 3,126 shares of the oil and gas exploration company’s stock worth $101,000 after buying an additional 375 shares during the last quarter. WFG Advisors LP boosted its stake in shares of National Oilwell Varco by 16.1% in the second quarter. WFG Advisors LP now owns 3,790 shares of the oil and gas exploration company’s stock worth $128,000 after buying an additional 526 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co boosted its stake in shares of National Oilwell Varco by 27.5% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,100 shares of the oil and gas exploration company’s stock worth $172,000 after buying an additional 1,100 shares during the last quarter. Evercore Wealth Management LLC boosted its stake in shares of National Oilwell Varco by 43.7% in the second quarter. Evercore Wealth Management LLC now owns 5,323 shares of the oil and gas exploration company’s stock worth $179,000 after buying an additional 1,618 shares during the last quarter. Finally, Mizuho Asset Management Co. Ltd. boosted its stake in shares of National Oilwell Varco by 64.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 5,371 shares of the oil and gas exploration company’s stock worth $181,000 after buying an additional 2,100 shares during the last quarter. 93.75% of the stock is currently owned by institutional investors and hedge funds.

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

National Oilwell Varco (NYSE:NOV) traded down 1.13% during midday trading on Friday, hitting $35.94. 1,356,692 shares of the stock were exchanged. The company’s market cap is $13.57 billion. National Oilwell Varco has a 12 month low of $25.74 and a 12 month high of $38.55. The firm’s 50 day moving average price is $35.01 and its 200 day moving average price is $33.97.

National Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Thursday, October 27th. The oil and gas exploration company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by $0.06. The company earned $1.65 billion during the quarter, compared to analysts’ expectations of $1.68 billion. National Oilwell Varco had a negative net margin of 38.90% and a negative return on equity of 0.71%. National Oilwell Varco’s quarterly revenue was down 4.5% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. On average, equities research analysts forecast that National Oilwell Varco will post ($1.00) earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be given a $0.05 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $0.20 annualized dividend and a yield of 0.56%. National Oilwell Varco’s dividend payout ratio (DPR) is -2.33%.

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A number of research analysts have recently commented on NOV shares. Johnson Rice upgraded shares of National Oilwell Varco from a “hold” rating to an “accumulate” rating in a research report on Friday, July 29th. Jefferies Group reiterated a “hold” rating on shares of National Oilwell Varco in a research report on Wednesday, November 16th. Citigroup Inc. upped their target price on shares of National Oilwell Varco from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Monday, September 12th. Societe Generale upgraded shares of National Oilwell Varco from a “sell” rating to a “hold” rating and upped their target price for the stock from $32.10 to $35.00 in a research report on Monday, October 31st. Finally, Nomura set a $29.00 target price on shares of National Oilwell Varco and gave the stock a “hold” rating in a research report on Tuesday, August 16th. Three analysts have rated the stock with a sell rating, twenty-one have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $34.67.

About National Oilwell Varco

National Oilwell Varco, Inc (NOV) is engaged in providing design, manufacture and sale of equipment and components used in oil and gas drilling, completion and production operations. The Company operates through four segments: Rig Systems, which makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore; Rig Aftermarket, which provides aftermarket products and services to support land and offshore rigs, and drilling rig components manufactured by the Company’s Rig Systems segment; Wellbore Technologies, which sells and rents solids control equipment, and provides solids control, waste management and drilling fluids services, and Completion & Production Solutions, which provides technologies for well completions and oil and gas production.

5 Day Chart for NYSE:NOV

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