Dalton Greiner Hartman Maher & Co. Takes Position in National Oilwell Varco (NOV)
Dalton Greiner Hartman Maher & Co. purchased a new position in shares of National Oilwell Varco (NYSE:NOV) during the third quarter, according to its most recent disclosure with the SEC. The fund purchased 337,326 shares of the oil and gas exploration company’s stock, valued at approximately $12,393,000. Dalton Greiner Hartman Maher & Co. owned about 0.09% of National Oilwell Varco as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Canandaigua National Bank & Trust Co. acquired a new stake in National Oilwell Varco during the third quarter worth $246,000. Capstone Asset Management Co. increased its stake in National Oilwell Varco by 0.8% in the third quarter. Capstone Asset Management Co. now owns 58,520 shares of the oil and gas exploration company’s stock worth $2,150,000 after buying an additional 490 shares during the period. Atria Investments LLC increased its stake in National Oilwell Varco by 56.6% in the third quarter. Atria Investments LLC now owns 28,700 shares of the oil and gas exploration company’s stock worth $1,054,000 after buying an additional 10,374 shares during the period. Advisory Services Network LLC increased its stake in National Oilwell Varco by 16.7% in the third quarter. Advisory Services Network LLC now owns 8,544 shares of the oil and gas exploration company’s stock worth $314,000 after buying an additional 1,225 shares during the period. Finally, Telemus Capital LLC increased its stake in National Oilwell Varco by 46.2% in the third quarter. Telemus Capital LLC now owns 18,991 shares of the oil and gas exploration company’s stock worth $698,000 after buying an additional 6,001 shares during the period. Hedge funds and other institutional investors own 92.25% of the company’s stock.
Shares of National Oilwell Varco (NYSE:NOV) traded down 0.793% on Monday, reaching $35.655. The company had a trading volume of 1,955,443 shares. National Oilwell Varco has a 52-week low of $25.74 and a 52-week high of $38.55. The firm’s market capitalization is $13.47 billion. The company has a 50-day moving average price of $35.01 and a 200-day moving average price of $33.97.
National Oilwell Varco (NYSE:NOV) last released its earnings results on Thursday, October 27th. The oil and gas exploration company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.06. The business 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 revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.61 EPS. Equities research analysts forecast that National Oilwell Varco will post ($1.00) EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.20 annualized dividend and a dividend yield of 0.56%. National Oilwell Varco’s dividend payout ratio is -2.33%.
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A number of research firms recently weighed in on NOV. Jefferies Group restated a “hold” rating on shares of National Oilwell Varco in a research note on Wednesday, November 16th. Citigroup Inc. upgraded National Oilwell Varco from a “sell” rating to a “neutral” rating and lifted their price target for the company from $30.00 to $33.00 in a research note on Monday, November 7th. Societe Generale upgraded National Oilwell Varco from a “sell” rating to a “hold” rating and lifted their price target for the company from $32.10 to $35.00 in a research note on Monday, October 31st. Zacks Investment Research cut National Oilwell Varco from a “buy” rating to a “hold” rating in a report on Tuesday, October 18th. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of National Oilwell Varco in a report on Friday, August 19th. Three investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $34.67.
National Oilwell Varco Company Profile
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.
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