Wealthfront Inc. Has $1.09 Million Stake in National-Oilwell Varco, Inc. (NOV)
Wealthfront Inc. raised its stake in shares of National-Oilwell Varco, Inc. (NYSE:NOV) by 19.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,216 shares of the oil and gas exploration company’s stock after acquiring an additional 4,924 shares during the quarter. Wealthfront Inc.’s holdings in National-Oilwell Varco were worth $1,088,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Eagle Investment Management LLC raised its stake in shares of National-Oilwell Varco by 2.1% during the 3rd quarter. First Eagle Investment Management LLC now owns 27,068,594 shares of the oil and gas exploration company’s stock valued at $967,161,000 after buying an additional 563,589 shares during the last quarter. BlackRock Inc. raised its stake in shares of National-Oilwell Varco by 0.3% during the 4th quarter. BlackRock Inc. now owns 25,257,983 shares of the oil and gas exploration company’s stock valued at $909,792,000 after buying an additional 78,663 shares during the last quarter. Parnassus Investments CA raised its stake in shares of National-Oilwell Varco by 10.1% during the 4th quarter. Parnassus Investments CA now owns 6,929,938 shares of the oil and gas exploration company’s stock valued at $249,616,000 after buying an additional 637,925 shares during the last quarter. American Century Companies Inc. raised its stake in shares of National-Oilwell Varco by 4.2% during the 4th quarter. American Century Companies Inc. now owns 6,390,274 shares of the oil and gas exploration company’s stock valued at $230,178,000 after buying an additional 255,563 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in shares of National-Oilwell Varco during the 3rd quarter valued at about $226,421,000. 93.57% of the stock is currently owned by institutional investors and hedge funds.
NOV has been the subject of a number of recent research reports. B. Riley set a $42.00 price objective on National-Oilwell Varco and gave the company a “buy” rating in a research note on Friday, January 19th. Piper Jaffray Companies reiterated a “buy” rating and set a $34.00 price objective on shares of National-Oilwell Varco in a research note on Thursday, December 21st. TheStreet upgraded National-Oilwell Varco from a “d+” rating to a “c” rating in a research note on Tuesday, February 6th. Barclays set a $37.00 price objective on National-Oilwell Varco and gave the company an “equal weight” rating in a research note on Thursday, February 8th. Finally, Royal Bank of Canada restated a “hold” rating and set a $40.00 target price on shares of National-Oilwell Varco in a research report on Friday, January 19th. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $37.55.
Shares of National-Oilwell Varco, Inc. (NYSE:NOV) opened at $36.26 on Friday. The company has a quick ratio of 1.79, a current ratio of 3.07 and a debt-to-equity ratio of 0.19. National-Oilwell Varco, Inc. has a twelve month low of $29.90 and a twelve month high of $40.90. The stock has a market capitalization of $14,183.16, a PE ratio of -57.56, a P/E/G ratio of 23.86 and a beta of 0.88.
National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). National-Oilwell Varco had a negative return on equity of 1.10% and a negative net margin of 3.24%. The company had revenue of $1.97 billion for the quarter. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. equities research analysts anticipate that National-Oilwell Varco, Inc. will post 0.26 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, March 15th. National-Oilwell Varco’s payout ratio is -31.75%.
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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.
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