Schwab Charles Investment Management Inc. increased its holdings in National Oilwell Varco, Inc. (NYSE:NOV) by 5.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,534,598 shares of the oil and gas exploration company’s stock after buying an additional 80,412 shares during the period. Schwab Charles Investment Management Inc. owned 0.40% of National Oilwell Varco worth $50,550,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in National Oilwell Varco by 1.1% during the first quarter. Vanguard Group Inc. now owns 37,863,383 shares of the oil and gas exploration company’s stock valued at $1,517,944,000 after purchasing an additional 401,671 shares in the last quarter. First Eagle Investment Management LLC raised its position in National Oilwell Varco by 2.8% during the first quarter. First Eagle Investment Management LLC now owns 26,052,857 shares of the oil and gas exploration company’s stock valued at $1,044,459,000 after purchasing an additional 721,441 shares in the last quarter. BlackRock Inc. raised its position in National Oilwell Varco by 3,189.2% during the first quarter. BlackRock Inc. now owns 24,841,300 shares of the oil and gas exploration company’s stock valued at $995,890,000 after purchasing an additional 24,086,060 shares in the last quarter. Harris Associates L P raised its position in National Oilwell Varco by 7.2% during the first quarter. Harris Associates L P now owns 16,017,269 shares of the oil and gas exploration company’s stock valued at $642,133,000 after purchasing an additional 1,080,775 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in National Oilwell Varco by 2.8% during the first quarter. Clearbridge Investments LLC now owns 13,209,045 shares of the oil and gas exploration company’s stock valued at $529,551,000 after purchasing an additional 359,809 shares in the last quarter. Institutional investors own 90.32% of the company’s stock.

Several research analysts have commented on NOV shares. BMO Capital Markets restated a “sell” rating and set a $30.00 price objective on shares of National Oilwell Varco in a research report on Thursday, June 22nd. BidaskClub downgraded shares of National Oilwell Varco from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Credit Suisse Group set a $35.00 price objective on shares of National Oilwell Varco and gave the company a “hold” rating in a research report on Saturday, July 29th. FBR & Co restated a “buy” rating and set a $42.00 price objective on shares of National Oilwell Varco in a research report on Thursday, August 31st. Finally, Barclays PLC restated a “hold” rating and set a $38.00 price objective on shares of National Oilwell Varco in a research report on Wednesday, August 2nd. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. National Oilwell Varco currently has an average rating of “Hold” and a consensus target price of $38.82.

National Oilwell Varco, Inc. (NYSE:NOV) opened at 31.83 on Thursday. The stock’s 50 day moving average is $31.59 and its 200-day moving average is $34.67. The company’s market cap is $12.10 billion. National Oilwell Varco, Inc. has a 52-week low of $29.90 and a 52-week high of $43.63.

National Oilwell Varco (NYSE:NOV) last issued its earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, hitting 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 company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the business earned ($0.30) EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts predict that National Oilwell Varco, Inc. will post ($0.40) EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.63%. The ex-dividend date is Thursday, September 14th. National Oilwell Varco’s payout ratio is -3.31%.

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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.

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

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