Schwab Charles Investment Management Inc. boosted its holdings in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 7.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,653,899 shares of the oil and gas exploration company’s stock after purchasing an additional 119,301 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.44% of National Oilwell Varco worth $59,094,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. IHT Wealth Management LLC lifted its stake in National Oilwell Varco by 1,923.1% during the second quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock valued at $112,000 after purchasing an additional 500 shares during the last quarter. IBM Retirement Fund acquired a new stake in National Oilwell Varco during the third quarter valued at approximately $200,000. Wrapmanager Inc. acquired a new stake in shares of National Oilwell Varco during the third quarter valued at approximately $202,000. Chicago Partners Investment Group LLC acquired a new stake in shares of National Oilwell Varco during the second quarter valued at approximately $194,000. Finally, Smith Salley & Associates acquired a new stake in shares of National Oilwell Varco during the third quarter valued at approximately $214,000. 92.56% of the stock is owned by institutional investors and hedge funds.

National Oilwell Varco, Inc. (NOV) traded down $0.11 during mid-day trading on Tuesday, reaching $33.98. 3,997,300 shares of the company’s stock traded hands, compared to its average volume of 3,304,497. The company has a quick ratio of 1.62, a current ratio of 2.75 and a debt-to-equity ratio of 0.19. National Oilwell Varco, Inc. has a 12 month low of $29.90 and a 12 month high of $43.63.

National Oilwell Varco (NYSE:NOV) last posted its earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. National Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.34) earnings per share. equities research analysts predict that National Oilwell Varco, Inc. will post -0.41 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Thursday, December 7th. National Oilwell Varco’s dividend payout ratio is -8.03%.

A number of research firms have recently issued reports on NOV. SunTrust Banks upgraded shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a report on Wednesday, November 29th. ValuEngine lowered shares of National Oilwell Varco from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. B. Riley restated a “buy” rating on shares of National Oilwell Varco in a report on Wednesday, November 1st. R. F. Lafferty cut their price target on shares of National Oilwell Varco from $33.00 to $31.00 and set a “hold” rating on the stock in a report on Monday, November 6th. Finally, Wolfe Research lowered shares of National Oilwell Varco from a “market perform” rating to an “underperform” rating in a report on Tuesday, October 31st. Five investment analysts have rated the stock with a sell rating, twenty have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $38.00.

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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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