Commonwealth Bank of Australia lowered its position in National Oilwell Varco, Inc. (NYSE:NOV) by 5.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,558 shares of the oil and gas exploration company’s stock after selling 5,274 shares during the period. Commonwealth Bank of Australia’s holdings in National Oilwell Varco were worth $3,278,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOV. BlackRock Inc. increased its position in shares of National Oilwell Varco by 3,189.2% in the 1st quarter. BlackRock Inc. now owns 24,841,300 shares of the oil and gas exploration company’s stock valued at $995,890,000 after buying an additional 24,086,060 shares in the last quarter. FMR LLC increased its position in shares of National Oilwell Varco by 35.3% in the 1st quarter. FMR LLC now owns 9,054,139 shares of the oil and gas exploration company’s stock valued at $362,980,000 after buying an additional 2,363,202 shares in the last quarter. Schroder Investment Management Group increased its position in shares of National Oilwell Varco by 37,171.5% in the 1st quarter. Schroder Investment Management Group now owns 1,515,460 shares of the oil and gas exploration company’s stock valued at $60,723,000 after buying an additional 1,511,394 shares in the last quarter. American Century Companies Inc. increased its position in shares of National Oilwell Varco by 33.6% in the 2nd quarter. American Century Companies Inc. now owns 5,924,558 shares of the oil and gas exploration company’s stock valued at $195,155,000 after buying an additional 1,491,359 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of National Oilwell Varco by 36.3% in the 1st quarter. Morgan Stanley now owns 4,218,392 shares of the oil and gas exploration company’s stock valued at $169,114,000 after buying an additional 1,124,578 shares in the last quarter. Institutional investors and hedge funds own 90.32% of the company’s stock.

NOV has been the subject of a number of research analyst reports. ValuEngine raised shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of National Oilwell Varco in a research note on Friday, September 1st. Wells Fargo & Company reaffirmed a “market perform” rating on shares of National Oilwell Varco in a research note on Monday, July 10th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $34.00 target price (down from $38.00) on shares of National Oilwell Varco in a research note on Monday, July 31st. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $37.00 target price on shares of National Oilwell Varco in a research note on Tuesday, July 11th. Five 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 company’s stock. National Oilwell Varco has a consensus rating of “Hold” and an average price target of $38.82.

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Shares of National Oilwell Varco, Inc. (NYSE:NOV) opened at 31.75 on Monday. The company has a 50-day moving average of $31.43 and a 200 day moving average of $34.63. The firm’s market capitalization is $12.07 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 released its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, hitting the 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 business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the previous year, the company earned ($0.30) earnings per share. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that National Oilwell Varco, Inc. will post ($0.40) earnings per share for the current year.

The company 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 dividend of $0.05 per share. This represents a $0.20 annualized dividend 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 presently -3.31%.

National Oilwell Varco 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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