MML Investors Services LLC lifted its stake in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 11.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,422 shares of the oil and gas exploration company’s stock after acquiring an additional 1,742 shares during the period. MML Investors Services LLC’s holdings in National Oilwell Varco were worth $541,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in National Oilwell Varco by 2.5% during the second quarter. Vanguard Group Inc. now owns 38,794,232 shares of the oil and gas exploration company’s stock worth $1,277,882,000 after purchasing an additional 930,849 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in National Oilwell Varco by 1.7% during the second quarter. First Eagle Investment Management LLC now owns 26,505,005 shares of the oil and gas exploration company’s stock worth $873,075,000 after purchasing an additional 452,148 shares during the last quarter. BlackRock Inc. boosted its holdings in National Oilwell Varco by 1.4% during the second quarter. BlackRock Inc. now owns 25,195,874 shares of the oil and gas exploration company’s stock worth $829,954,000 after purchasing an additional 354,574 shares during the last quarter. Clearbridge Investments LLC boosted its holdings 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 worth $529,551,000 after purchasing an additional 359,809 shares during the last quarter. Finally, FMR LLC boosted its holdings in National Oilwell Varco by 6.4% during the second quarter. FMR LLC now owns 9,635,851 shares of the oil and gas exploration company’s stock worth $317,405,000 after purchasing an additional 581,712 shares during the last quarter. 90.29% of the stock is owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This report was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this report on another site, it was copied illegally and republished in violation of United States and international copyright legislation. The legal version of this report can be viewed at https://www.thecerbatgem.com/2017/09/28/mml-investors-services-llc-raises-stake-in-national-oilwell-varco-inc-nov.html.

Several research analysts recently commented on NOV shares. Piper Jaffray Companies set a $37.00 target price on shares of National Oilwell Varco and gave the stock a “buy” rating in a report on Thursday, July 27th. Loop Capital upgraded shares of National Oilwell Varco from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Thursday, August 17th. FBR & Co restated a “buy” rating and set a $42.00 target price on shares of National Oilwell Varco in a report on Thursday, August 31st. Scotiabank set a $37.00 target price on shares of National Oilwell Varco and gave the stock a “hold” rating in a report on Friday, July 28th. Finally, Jefferies Group LLC set a $38.00 target price on shares of National Oilwell Varco and gave the stock a “hold” rating in a report on Wednesday, May 31st. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $38.82.

Shares of National Oilwell Varco, Inc. (NYSE:NOV) opened at 36.14 on Thursday. The firm’s market cap is $13.73 billion. The stock’s 50 day moving average is $31.57 and its 200-day moving average is $34.23. National Oilwell Varco, Inc. has a 1-year low of $29.90 and a 1-year high of $43.63.

National Oilwell Varco (NYSE:NOV) last issued 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 Zacks’ consensus estimate of ($0.14). The company had revenue of $1.76 billion for 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 firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.30) EPS. Analysts expect that National Oilwell Varco, Inc. will post ($0.41) earnings per share for the current year.

The business 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. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, September 14th. National Oilwell Varco’s dividend payout ratio (DPR) is currently -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.

Want to see what other hedge funds are holding NOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Oilwell Varco, Inc. (NYSE:NOV).

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

Receive News & Stock Ratings for National Oilwell Varco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Oilwell Varco Inc. and related stocks with our FREE daily email newsletter.