Contrarius Investment Management Ltd increased its position in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 16.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,666,269 shares of the oil and gas exploration company’s stock after buying an additional 373,812 shares during the period. National Oilwell Varco comprises approximately 5.9% of Contrarius Investment Management Ltd’s investment portfolio, making the stock its 5th largest position. Contrarius Investment Management Ltd owned approximately 0.70% of National Oilwell Varco worth $87,827,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Moody Lynn & Lieberson LLC increased its stake in shares of National Oilwell Varco by 0.4% in the first quarter. Moody Lynn & Lieberson LLC now owns 6,684 shares of the oil and gas exploration company’s stock worth $268,000 after buying an additional 29 shares during the last quarter. Cleararc Capital Inc. increased its stake in shares of National Oilwell Varco by 0.7% in the first quarter. Cleararc Capital Inc. now owns 9,243 shares of the oil and gas exploration company’s stock worth $371,000 after buying an additional 65 shares during the last quarter. First Manhattan Co. increased its stake in shares of National Oilwell Varco by 0.3% in the first quarter. First Manhattan Co. now owns 32,934 shares of the oil and gas exploration company’s stock worth $1,210,000 after buying an additional 98 shares during the last quarter. Fernwood Investment Management LLC increased its stake in shares of National Oilwell Varco by 0.6% in the second quarter. Fernwood Investment Management LLC now owns 15,765 shares of the oil and gas exploration company’s stock worth $519,000 after buying an additional 100 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of National Oilwell Varco by 0.3% in the second quarter. CIBC Asset Management Inc now owns 36,365 shares of the oil and gas exploration company’s stock worth $1,198,000 after buying an additional 113 shares during the last quarter. Institutional investors and hedge funds own 90.31% of the company’s stock.

Shares of National Oilwell Varco, Inc. (NOV) traded down 0.313% during mid-day trading on Tuesday, hitting $30.245. 71,599 shares of the stock traded hands. The company’s market cap is $11.49 billion. The firm has a 50 day moving average of $32.11 and a 200 day moving average of $35.18. National Oilwell Varco, Inc. has a 12 month low of $29.90 and a 12 month high of $43.63.

National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.14). National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the firm posted ($0.30) earnings per share. National Oilwell Varco’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities analysts anticipate that National Oilwell Varco, Inc. will post ($0.40) EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.20 annualized dividend and a yield of 0.66%. National Oilwell Varco’s payout ratio is -3.31%.

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A number of equities research analysts have recently issued reports on the stock. R. F. Lafferty reissued a “hold” rating and set a $33.00 price objective (down previously from $38.00) on shares of National Oilwell Varco in a research report on Tuesday, August 1st. Seaport Global Securities reissued a “sell” rating on shares of National Oilwell Varco in a research report on Friday, July 28th. Zacks Investment Research raised shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. BidaskClub downgraded shares of National Oilwell Varco from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Finally, ValuEngine downgraded shares of National Oilwell Varco from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. National Oilwell Varco presently has a consensus rating of “Hold” and an average price target of $39.09.

National Oilwell Varco Company Profile

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.

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

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