Victory Capital Management Inc. increased its stake in National Oilwell Varco, Inc. (NYSE:NOV) by 17.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,508 shares of the oil and gas exploration company’s stock after acquiring an additional 10,991 shares during the period. Victory Capital Management Inc.’s holdings in National Oilwell Varco were worth $2,455,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOV. Russell Investments Group Ltd. lifted its stake in shares of National Oilwell Varco by 39.9% in the 1st quarter. Russell Investments Group Ltd. now owns 230,271 shares of the oil and gas exploration company’s stock valued at $9,234,000 after acquiring an additional 65,729 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of National Oilwell Varco by 208.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 65,820 shares of the oil and gas exploration company’s stock valued at $2,639,000 after acquiring an additional 44,500 shares during the last quarter. Chicago Equity Partners LLC bought a new stake in shares of National Oilwell Varco in the 1st quarter valued at about $226,000. DekaBank Deutsche Girozentrale lifted its stake in shares of National Oilwell Varco by 24.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 122,928 shares of the oil and gas exploration company’s stock valued at $4,964,000 after acquiring an additional 24,205 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC lifted its stake in shares of National Oilwell Varco by 0.4% in the 1st quarter. Moody Lynn & Lieberson LLC now owns 6,684 shares of the oil and gas exploration company’s stock valued at $268,000 after acquiring an additional 29 shares during the last quarter. 90.32% of the stock is owned by institutional investors.

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A number of equities research analysts have recently weighed in on NOV shares. Piper Jaffray Companies set a $37.00 target price on National Oilwell Varco and gave the company a “buy” rating in a research note on Thursday, July 27th. Loop Capital raised National Oilwell Varco from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Thursday, August 17th. FBR & Co reissued a “buy” rating and issued a $42.00 target price on shares of National Oilwell Varco in a research note on Thursday, August 31st. Scotiabank set a $37.00 target price on National Oilwell Varco and gave the company a “hold” rating in a research note on Friday, July 28th. Finally, Jefferies Group LLC set a $38.00 target price on National Oilwell Varco and gave the company a “hold” rating in a research note on Wednesday, May 31st. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $38.82.

Shares of National Oilwell Varco, Inc. (NOV) opened at 31.75 on Friday. National Oilwell Varco, Inc. has a 1-year low of $29.90 and a 1-year high of $43.63. The company has a 50 day moving average price of $31.43 and a 200 day moving average price of $34.63. The stock’s market cap is $12.07 billion.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Thursday, September 14th. National Oilwell Varco’s dividend payout ratio (DPR) is -3.31%.

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.

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

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