National Oilwell Varco, Inc. (NOV) Stake Boosted by Sun Life Financial INC
Sun Life Financial INC grew its position in National Oilwell Varco, Inc. (NYSE:NOV) by 89,712.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,185 shares of the oil and gas exploration company’s stock after purchasing an additional 7,177 shares during the quarter. Sun Life Financial INC’s holdings in National Oilwell Varco were worth $237,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in NOV. Clinton Group Inc. acquired a new stake in shares of National Oilwell Varco in the second quarter worth $1,632,000. Harris Associates L P boosted its holdings in shares of National Oilwell Varco by 16.0% during the 2nd quarter. Harris Associates L P now owns 18,574,753 shares of the oil and gas exploration company’s stock worth $611,852,000 after buying an additional 2,557,484 shares during the period. PDT Partners LLC boosted its holdings in shares of National Oilwell Varco by 76.1% during the 2nd quarter. PDT Partners LLC now owns 406,620 shares of the oil and gas exploration company’s stock worth $13,394,000 after buying an additional 175,770 shares during the period. Balyasny Asset Management LLC bought a new stake in shares of National Oilwell Varco during the 2nd quarter worth $856,000. Finally, QS Investors LLC boosted its holdings in shares of National Oilwell Varco by 218.4% during the 2nd quarter. QS Investors LLC now owns 126,733 shares of the oil and gas exploration company’s stock worth $4,175,000 after buying an additional 86,928 shares during the period. 90.29% of the stock is currently owned by institutional investors.
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Shares of National Oilwell Varco, Inc. (NYSE NOV) traded down 1.23% during mid-day trading on Monday, reaching $35.29. The company had a trading volume of 403,899 shares. The firm’s 50 day moving average is $31.57 and its 200-day moving average is $34.23. National Oilwell Varco, Inc. has a 12-month low of $29.90 and a 12-month high of $43.63. The stock’s market capitalization is $13.41 billion.
National Oilwell Varco (NYSE:NOV) last announced 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 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 for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the business posted ($0.30) EPS. The business’s revenue was up 2.0% compared to the same quarter last year. On average, analysts expect that National Oilwell Varco, Inc. will post ($0.41) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.56%. National Oilwell Varco’s payout ratio is -3.31%.
A number of research analysts recently issued reports on NOV shares. R. F. Lafferty reiterated a “hold” rating and issued a $33.00 target price (down from $38.00) on shares of National Oilwell Varco in a research note on Tuesday, August 1st. Seaport Global Securities reiterated a “sell” rating on shares of National Oilwell Varco in a report on Friday, July 28th. Piper Jaffray Companies reissued a “buy” rating and set a $36.00 target price on shares of National Oilwell Varco in a research report on Tuesday, September 26th. Zacks Investment Research raised shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, SunTrust Banks, Inc. cut shares of National Oilwell Varco from a “hold” rating to a “sell” rating and upped their price target for the company from $29.00 to $50.00 in a report on Monday, August 7th. They noted that the move was a valuation call. 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 assigned a strong buy rating to the company’s stock. National Oilwell Varco has a consensus rating of “Hold” and a consensus price target of $38.82.
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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