Zurcher Kantonalbank Zurich Cantonalbank Sells 33,155 Shares of National Oilwell Varco, Inc. (NOV)
Zurcher Kantonalbank Zurich Cantonalbank cut its position in National Oilwell Varco, Inc. (NYSE:NOV) by 6.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 510,036 shares of the oil and gas exploration company’s stock after selling 33,155 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.13% of National Oilwell Varco worth $16,801,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. FNY Partners Fund LP bought a new position in shares of National Oilwell Varco during the first quarter worth about $120,000. Exane Derivatives boosted its position in shares of National Oilwell Varco by 113.8% in the second quarter. Exane Derivatives now owns 3,985 shares of the oil and gas exploration company’s stock worth $131,000 after buying an additional 2,121 shares during the last quarter. WMS Partners LLC bought a new position in shares of National Oilwell Varco during the first quarter worth about $200,000. Tiedemann Wealth Management LLC bought a new position in shares of National Oilwell Varco during the first quarter worth about $203,000. Finally, United Capital Financial Advisers LLC bought a new position in shares of National Oilwell Varco during the first quarter worth about $206,000. Institutional investors and hedge funds own 90.31% of the company’s stock.
Shares of National Oilwell Varco, Inc. (NOV) opened at 30.34 on Tuesday. National Oilwell Varco, Inc. has a 12 month low of $29.90 and a 12 month high of $43.63. The firm has a 50 day moving average price of $32.11 and a 200-day moving average price of $35.18. The firm’s market cap is $11.53 billion.
National Oilwell Varco (NYSE:NOV) last released its earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, meeting the Zacks’ 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 during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the firm earned ($0.30) EPS. The company’s revenue was up 2.0% compared to the same quarter last year. On average, analysts predict that National Oilwell Varco, Inc. will post ($0.40) EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Thursday, September 14th. National Oilwell Varco’s dividend payout ratio is currently -3.31%.
A number of research analysts have recently weighed in on NOV shares. R. F. Lafferty reiterated a “hold” rating and set a $33.00 price target (down previously from $38.00) on shares of National Oilwell Varco in a report on Tuesday, August 1st. Seaport Global Securities reiterated a “sell” rating on shares of National Oilwell Varco in a report on Friday, July 28th. Zacks Investment Research upgraded National Oilwell Varco from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub downgraded National Oilwell Varco from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Finally, ValuEngine downgraded National Oilwell Varco from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $39.09.
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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