IHT Wealth Management LLC lifted its stake in National Oilwell Varco, Inc. (NYSE:NOV) by 1,923.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 526 shares of the oil and gas exploration company’s stock after purchasing an additional 500 shares during the quarter. IHT Wealth Management LLC’s holdings in National Oilwell Varco were worth $112,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in NOV. JPMorgan Chase & Co. boosted its position in shares of National Oilwell Varco by 54.5% in the 1st quarter. JPMorgan Chase & Co. now owns 334,550 shares of the oil and gas exploration company’s stock valued at $13,413,000 after purchasing an additional 118,002 shares during the period. Victory Capital Management Inc. boosted its position in shares of National Oilwell Varco by 794.2% in the 1st quarter. Victory Capital Management Inc. now owns 63,517 shares of the oil and gas exploration company’s stock valued at $2,546,000 after purchasing an additional 56,414 shares during the period. Neuberger Berman Group LLC boosted its position in shares of National Oilwell Varco by 24.0% in the 1st quarter. Neuberger Berman Group LLC now owns 43,259 shares of the oil and gas exploration company’s stock valued at $1,734,000 after purchasing an additional 8,370 shares during the period. AXA acquired a new position in shares of National Oilwell Varco in the 1st quarter valued at $891,000. Finally, Principal Financial Group Inc. boosted its position in shares of National Oilwell Varco by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 577,988 shares of the oil and gas exploration company’s stock valued at $23,171,000 after purchasing an additional 12,209 shares during the period. Institutional investors and hedge funds own 90.29% of the company’s stock.

National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). National Oilwell Varco had a negative return on equity of 2.12% and a negative net margin of 33.24%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the firm posted ($0.30) earnings per share. The business’s quarterly revenue was up 2.0% compared to the same quarter last year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.20 annualized dividend and a yield of 0.58%. National Oilwell Varco’s dividend payout ratio (DPR) is presently -3.31%.

A number of brokerages have commented on NOV. Piper Jaffray Companies upgraded National Oilwell Varco from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $36.00 to $37.00 in a research report on Tuesday, June 20th. Morgan Stanley restated an “overweight” rating and set a $50.00 price objective (down from $60.00) on shares of National Oilwell Varco in a research report on Wednesday, June 21st. 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 upgraded National Oilwell Varco from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, Wells Fargo & Company restated a “market perform” rating on shares of National Oilwell Varco in a research report on Monday, July 10th. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $38.61.

TRADEMARK VIOLATION NOTICE: This article was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this article on another publication, it was illegally stolen and republished in violation of US and international trademark and copyright legislation. The original version of this article can be viewed at https://www.thecerbatgem.com/2017/10/13/national-oilwell-varco-inc-nov-position-boosted-by-iht-wealth-management-llc.html.

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)

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.