TRUE Private Wealth Advisors Invests $26,000 in National-Oilwell Varco, Inc. (NYSE:NOV)

TRUE Private Wealth Advisors acquired a new position in shares of National-Oilwell Varco, Inc. (NYSE:NOV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,185 shares of the oil and gas exploration company’s stock, valued at approximately $26,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Securian Asset Management Inc grew its holdings in shares of National-Oilwell Varco by 1.2% during the first quarter. Securian Asset Management Inc now owns 39,161 shares of the oil and gas exploration company’s stock worth $1,043,000 after purchasing an additional 480 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in shares of National-Oilwell Varco by 0.9% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 58,266 shares of the oil and gas exploration company’s stock worth $1,552,000 after purchasing an additional 520 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of National-Oilwell Varco by 33.6% during the first quarter. Parallel Advisors LLC now owns 2,334 shares of the oil and gas exploration company’s stock worth $62,000 after purchasing an additional 587 shares in the last quarter. Mason Street Advisors LLC grew its holdings in shares of National-Oilwell Varco by 1.2% during the first quarter. Mason Street Advisors LLC now owns 54,702 shares of the oil and gas exploration company’s stock worth $1,457,000 after purchasing an additional 653 shares in the last quarter. Finally, State Treasurer State of Michigan grew its holdings in shares of National-Oilwell Varco by 0.6% during the first quarter. State Treasurer State of Michigan now owns 110,478 shares of the oil and gas exploration company’s stock worth $2,943,000 after purchasing an additional 700 shares in the last quarter. 95.64% of the stock is owned by institutional investors.

NOV stock traded up $0.36 during midday trading on Friday, hitting $18.64. The company had a trading volume of 3,647,000 shares, compared to its average volume of 5,609,009. The company has a current ratio of 3.05, a quick ratio of 1.76 and a debt-to-equity ratio of 0.29. National-Oilwell Varco, Inc. has a 52 week low of $18.05 and a 52 week high of $47.46. The stock’s 50 day moving average price is $21.39 and its 200 day moving average price is $24.66. The stock has a market cap of $7.05 billion, a price-to-earnings ratio of -233.00 and a beta of 1.30.



National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings data on Monday, July 29th. The oil and gas exploration company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.03. National-Oilwell Varco had a negative return on equity of 0.64% and a negative net margin of 63.23%. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.08 billion. Analysts predict that National-Oilwell Varco, Inc. will post -0.02 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.05 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.20 annualized dividend and a yield of 1.07%. National-Oilwell Varco’s payout ratio is currently -250.00%.

In other National-Oilwell Varco news, Director Eric L. Mattson sold 4,750 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $21.02, for a total value of $99,845.00. Following the completion of the sale, the director now owns 64,503 shares in the company, valued at $1,355,853.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.92% of the company’s stock.

A number of analysts recently weighed in on NOV shares. Seaport Global Securities upgraded National-Oilwell Varco from a “sell” rating to a “neutral” rating in a research report on Wednesday, July 31st. Bank of America restated an “underperform” rating and issued a $20.00 target price (down previously from $26.00) on shares of National-Oilwell Varco in a research report on Tuesday, June 25th. ValuEngine upgraded National-Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Piper Jaffray Companies set a $25.00 target price on National-Oilwell Varco and gave the stock a “buy” rating in a research report on Monday, July 1st. Finally, Susquehanna Bancshares upgraded National-Oilwell Varco from a “neutral” rating to a “positive” rating and set a $25.00 target price for the company in a research report on Monday, August 12th. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the company. National-Oilwell Varco currently has an average rating of “Hold” and an average price target of $34.24.

About National-Oilwell Varco

National Oilwell Varco, Inc designs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. It operates in three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. The Wellbore Technologies segment offers various equipment and technologies used to perform drilling operations.

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

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