Edge Advisors LLC Boosts Position in National Oilwell Varco, Inc. (NOV)
Edge Advisors LLC lifted its position in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 48.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,141 shares of the oil and gas exploration company’s stock after purchasing an additional 7,932 shares during the period. Edge Advisors LLC’s holdings in National Oilwell Varco were worth $861,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. IHT Wealth Management LLC raised its stake in National Oilwell Varco by 1,923.1% during the 2nd quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock worth $112,000 after acquiring an additional 500 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new stake in National Oilwell Varco during the 2nd quarter worth $194,000. IBM Retirement Fund acquired a new stake in National Oilwell Varco during the 3rd quarter worth $200,000. Wrapmanager Inc. acquired a new stake in National Oilwell Varco during the 3rd quarter worth $202,000. Finally, Lakeview Capital Partners LLC raised its stake in National Oilwell Varco by 2.6% during the 2nd quarter. Lakeview Capital Partners LLC now owns 6,194 shares of the oil and gas exploration company’s stock worth $204,000 after acquiring an additional 155 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.
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National Oilwell Varco, Inc. (NYSE:NOV) traded down $0.30 during midday trading on Tuesday, reaching $31.72. 2,642,300 shares of the company’s stock were exchanged, compared to its average volume of 3,321,891. National Oilwell Varco, Inc. has a 12-month low of $29.90 and a 12-month high of $43.63. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.62 and a current ratio of 2.75.
National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.01. National Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm posted ($0.34) EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. research analysts expect that National Oilwell Varco, Inc. will post -0.41 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.63%. National Oilwell Varco’s dividend payout ratio (DPR) is presently -8.06%.
NOV has been the topic of a number of recent research reports. Wolfe Research lowered shares of National Oilwell Varco from a “market perform” rating to an “underperform” rating in a research note on Tuesday, October 31st. BidaskClub lowered shares of National Oilwell Varco from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. ValuEngine raised shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Credit Suisse Group set a $35.00 price objective on shares of National Oilwell Varco and gave the stock a “hold” rating in a report on Saturday, July 29th. Finally, FBR & Co reissued a “buy” rating and set a $42.00 price objective on shares of National Oilwell Varco in a report on Thursday, August 31st. Six analysts have rated the stock with a sell rating, nineteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $37.83.
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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