Arnhold LLC purchased a new stake in shares of National Oilwell Varco (NYSE:NOV) in the 1st quarter, HoldingsChannel reports. The fund purchased 131,300 shares of the oil and gas exploration company’s stock, valued at approximately $4,833,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its position 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 purchasing an additional 78,663 shares during the last quarter. Parnassus Investments CA grew 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 acquiring an additional 637,925 shares during the period. American Century Companies Inc. grew 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 acquiring an additional 255,563 shares during the period. Wells Fargo & Company MN grew its stake in shares of National Oilwell Varco by 3.1% during the 1st quarter. Wells Fargo & Company MN now owns 5,354,118 shares of the oil and gas exploration company’s stock valued at $197,086,000 after acquiring an additional 159,249 shares during the period. Finally, Lyrical Asset Management LP grew its stake in shares of National Oilwell Varco by 5.9% during the 4th quarter. Lyrical Asset Management LP now owns 4,687,024 shares of the oil and gas exploration company’s stock valued at $168,827,000 after acquiring an additional 261,103 shares during the period. 94.00% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on NOV. Wells Fargo & Co boosted their price objective on National Oilwell Varco from $37.00 to $47.00 and gave the company a “market perform” rating in a research note on Thursday, May 24th. Argus reiterated a “buy” rating and set a $51.00 price objective on shares of National Oilwell Varco in a research note on Thursday, May 17th. ValuEngine upgraded National Oilwell Varco from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Societe Generale downgraded National Oilwell Varco from a “buy” rating to a “hold” rating and boosted their price objective for the company from $38.32 to $41.00 in a research note on Thursday, April 19th. Finally, B. Riley reiterated a “neutral” rating and set a $42.00 price objective (up from $40.00) on shares of National Oilwell Varco in a research note on Tuesday, April 17th. Four equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $37.63.

In other news, VP Craig L. Weinstock sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $44.03, for a total transaction of $220,150.00. Following the sale, the vice president now directly owns 46,372 shares of the company’s stock, valued at approximately $2,041,759.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Scott K. Duff sold 40,459 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $41.02, for a total value of $1,659,628.18. Following the sale, the vice president now directly owns 72,697 shares in the company, valued at $2,982,030.94. The disclosure for this sale can be found here. 0.79% of the stock is owned by corporate insiders.

National Oilwell Varco opened at $41.42 on Friday, MarketBeat.com reports. The company has a market capitalization of $15.78 billion, a price-to-earnings ratio of -98.62, a price-to-earnings-growth ratio of 68.39 and a beta of 0.81. National Oilwell Varco has a 1-year low of $29.90 and a 1-year high of $45.08. The company has a quick ratio of 1.89, a current ratio of 3.37 and a debt-to-equity ratio of 0.19.

National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Thursday, April 26th. The oil and gas exploration company reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.13). The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.81 billion. National Oilwell Varco had a negative return on equity of 1.15% and a negative net margin of 2.49%. sell-side analysts expect that National Oilwell Varco will post 0.1 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, June 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.48%. National Oilwell Varco’s dividend payout ratio (DPR) is -47.62%.

About National Oilwell Varco

National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

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Institutional Ownership by Quarter for National Oilwell Varco (NYSE:NOV)

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