Cornerstone Advisors Inc. boosted its holdings in National-Oilwell Varco, Inc. (NYSE:NOV) by 285.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,390 shares of the oil and gas exploration company’s stock after acquiring an additional 1,029 shares during the period. Cornerstone Advisors Inc.’s holdings in National-Oilwell Varco were worth $29,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. TRUE Private Wealth Advisors acquired a new position in National-Oilwell Varco in the 2nd quarter valued at $26,000. Berman Capital Advisors LLC grew its holdings in National-Oilwell Varco by 385.0% in the 2nd quarter. Berman Capital Advisors LLC now owns 1,387 shares of the oil and gas exploration company’s stock valued at $30,000 after buying an additional 1,101 shares in the last quarter. Investors Research Corp grew its holdings in National-Oilwell Varco by 250.0% in the 2nd quarter. Investors Research Corp now owns 1,400 shares of the oil and gas exploration company’s stock valued at $31,000 after buying an additional 1,000 shares in the last quarter. Rational Advisors LLC grew its holdings in National-Oilwell Varco by 375.4% in the 2nd quarter. Rational Advisors LLC now owns 1,664 shares of the oil and gas exploration company’s stock valued at $37,000 after buying an additional 1,314 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in National-Oilwell Varco by 137.3% in the 3rd quarter. Signaturefd LLC now owns 2,366 shares of the oil and gas exploration company’s stock valued at $50,000 after buying an additional 1,369 shares in the last quarter. Institutional investors and hedge funds own 94.42% of the company’s stock.
NYSE:NOV traded down $1.00 during trading hours on Thursday, hitting $20.64. The company’s stock had a trading volume of 717,912 shares, compared to its average volume of 3,582,243. The stock has a fifty day simple moving average of $21.70 and a 200-day simple moving average of $22.38. The company has a market capitalization of $8.31 billion, a P/E ratio of -258.00, a PEG ratio of 52.22 and a beta of 1.30. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.05 and a quick ratio of 1.76. National-Oilwell Varco, Inc. has a twelve month low of $18.05 and a twelve month high of $39.16.
The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.20 annualized dividend and a yield of 0.97%. National-Oilwell Varco’s dividend payout ratio is presently -250.00%.
A number of brokerages have commented on NOV. Cowen reaffirmed a “market perform” rating and issued a $27.00 price objective (up from $25.00) on shares of National-Oilwell Varco in a report on Wednesday, July 31st. Citigroup decreased their price objective on National-Oilwell Varco from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Societe Generale raised National-Oilwell Varco from a “neutral” rating to a “positive” rating and set a $25.00 price objective on the stock in a report on Monday, August 12th. UBS Group set a $25.00 target price on National-Oilwell Varco and gave the stock a “hold” rating in a report on Wednesday, July 31st. Finally, Raymond James increased their target price on National-Oilwell Varco from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $30.48.
In other National-Oilwell Varco news, insider Joseph W. Rovig sold 22,640 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $18.37, for a total value of $415,896.80. Following the completion of the transaction, the insider now directly owns 73,867 shares in the company, valued at $1,356,936.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric L. Mattson sold 4,750 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $21.02, for a total value of $99,845.00. Following the completion of the transaction, the director now owns 64,503 shares of the company’s stock, valued at $1,355,853.06. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by company insiders.
National-Oilwell Varco Profile
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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