National-Oilwell Varco, Inc. (NOV) Stake Lifted by WINTON GROUP Ltd

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WINTON GROUP Ltd lifted its position in National-Oilwell Varco, Inc. (NYSE:NOV) by 66.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,061 shares of the oil and gas exploration company’s stock after acquiring an additional 83,553 shares during the quarter. WINTON GROUP Ltd owned approximately 0.05% of National-Oilwell Varco worth $9,117,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NOV. State of Alaska Department of Revenue grew its position in National-Oilwell Varco by 16.9% during the second quarter. State of Alaska Department of Revenue now owns 77,868 shares of the oil and gas exploration company’s stock valued at $3,378,000 after buying an additional 11,230 shares during the period. New York State Teachers Retirement System grew its position in National-Oilwell Varco by 0.9% during the second quarter. New York State Teachers Retirement System now owns 606,835 shares of the oil and gas exploration company’s stock valued at $26,337,000 after buying an additional 5,622 shares during the period. Swiss National Bank grew its position in National-Oilwell Varco by 3.1% during the second quarter. Swiss National Bank now owns 1,257,247 shares of the oil and gas exploration company’s stock valued at $54,565,000 after buying an additional 37,900 shares during the period. Ontario Teachers Pension Plan Board grew its position in National-Oilwell Varco by 220.9% during the second quarter. Ontario Teachers Pension Plan Board now owns 46,339 shares of the oil and gas exploration company’s stock valued at $2,011,000 after buying an additional 31,899 shares during the period. Finally, Raymond James & Associates grew its position in National-Oilwell Varco by 10.1% during the second quarter. Raymond James & Associates now owns 437,337 shares of the oil and gas exploration company’s stock valued at $18,980,000 after buying an additional 40,074 shares during the period. Hedge funds and other institutional investors own 95.63% of the company’s stock.

Several research firms recently weighed in on NOV. Seaport Global Securities restated a “sell” rating and set a $37.00 price target on shares of National-Oilwell Varco in a research report on Tuesday, July 31st. Citigroup upped their price objective on shares of National-Oilwell Varco from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Tuesday, July 31st. Barclays upped their price objective on shares of National-Oilwell Varco from $37.00 to $44.00 and gave the company a “hold” rating in a report on Monday, July 30th. Susquehanna Bancshares set a $45.00 price objective on shares of National-Oilwell Varco and gave the company a “hold” rating in a report on Monday, July 30th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $42.00 price objective on shares of National-Oilwell Varco in a report on Monday, July 30th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company’s stock. National-Oilwell Varco presently has a consensus rating of “Hold” and an average target price of $44.32.

Shares of National-Oilwell Varco stock traded up $0.01 on Friday, reaching $41.91. The stock had a trading volume of 3,157,276 shares, compared to its average volume of 3,132,769. National-Oilwell Varco, Inc. has a 1 year low of $31.47 and a 1 year high of $49.08. The company has a market cap of $16.48 billion, a price-to-earnings ratio of -99.79, a PEG ratio of 46.67 and a beta of 0.93. The company has a current ratio of 3.19, a quick ratio of 1.75 and a debt-to-equity ratio of 0.19.

National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Thursday, July 26th. The oil and gas exploration company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. National-Oilwell Varco had a negative net margin of 1.09% and a negative return on equity of 0.60%. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2 billion. During the same period in the prior year, the firm posted ($0.14) earnings per share. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. On average, sell-side analysts predict that National-Oilwell Varco, Inc. will post 0.15 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Thursday, September 13th. National-Oilwell Varco’s payout ratio is -47.62%.

In related news, Director Eric L. Mattson sold 4,338 shares of the firm’s stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $45.65, for a total value of $198,029.70. Following the sale, the director now directly owns 76,484 shares of the company’s stock, valued at $3,491,494.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Clay C. Williams sold 465,116 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $47.91, for a total transaction of $22,283,707.56. Following the completion of the sale, the chairman now directly owns 811,642 shares in the company, valued at $38,885,768.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 514,559 shares of company stock worth $24,588,009. Insiders own 0.79% of the company’s stock.

National-Oilwell Varco Profile

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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