Oppenheimer & Co. Inc. decreased its position in shares of National Oilwell Varco (NYSE:NOV) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 125,401 shares of the oil and gas exploration company’s stock after selling 510 shares during the period. Oppenheimer & Co. Inc.’s holdings in National Oilwell Varco were worth $4,608,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Babson Capital Management LLC raised its stake in National Oilwell Varco by 74.5% in the first quarter. Babson Capital Management LLC now owns 51,313 shares of the oil and gas exploration company’s stock worth $1,596,000 after buying an additional 21,900 shares during the period. Arizona State Retirement System raised its stake in National Oilwell Varco by 0.5% in the first quarter. Arizona State Retirement System now owns 101,901 shares of the oil and gas exploration company’s stock worth $3,169,000 after buying an additional 500 shares during the period. Phocas Financial Corp. bought a new stake in National Oilwell Varco during the first quarter worth $223,000. First Republic Investment Management Inc. raised its stake in National Oilwell Varco by 13.5% in the first quarter. First Republic Investment Management Inc. now owns 133,347 shares of the oil and gas exploration company’s stock worth $4,147,000 after buying an additional 15,831 shares during the period. Finally, Iowa State Bank raised its stake in National Oilwell Varco by 8.0% in the second quarter. Iowa State Bank now owns 42,848 shares of the oil and gas exploration company’s stock worth $1,441,000 after buying an additional 3,165 shares during the period. 92.25% of the stock is owned by hedge funds and other institutional investors.

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

National Oilwell Varco (NYSE:NOV) traded up 8.13% on Wednesday, hitting $37.36. The stock had a trading volume of 8,285,635 shares. The company’s 50 day moving average is $34.98 and its 200-day moving average is $34.02. National Oilwell Varco has a 12 month low of $25.74 and a 12 month high of $38.55. The stock’s market cap is $14.11 billion.

National Oilwell Varco (NYSE:NOV) last announced 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 Thomson Reuters’ consensus estimate of ($0.28) by $0.06. National Oilwell Varco had a negative net margin of 38.90% and a negative return on equity of 0.71%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the company earned $0.61 earnings per share. The company’s quarterly revenue was down 4.5% on a year-over-year basis. Analysts forecast that National Oilwell Varco will post ($1.00) EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.54%. The ex-dividend date is Wednesday, November 30th. National Oilwell Varco’s dividend payout ratio is currently -2.33%.

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NOV has been the subject of a number of analyst reports. Nomura set a $29.00 price objective on National Oilwell Varco and gave the company a “hold” rating in a research note on Tuesday, August 16th. Seaport Global Securities reaffirmed a “neutral” rating on shares of National Oilwell Varco in a research note on Friday, August 19th. Citigroup Inc. raised their price target on National Oilwell Varco from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Monday, September 12th. Zacks Investment Research lowered National Oilwell Varco from a “buy” rating to a “hold” rating in a research note on Tuesday, October 18th. Finally, Societe Generale raised National Oilwell Varco from a “sell” rating to a “hold” rating and raised their price target for the stock from $32.10 to $35.00 in a research note on Monday, October 31st. Three investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and seven have assigned a buy rating to the company’s stock. National Oilwell Varco presently has a consensus rating of “Hold” and an average price target 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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