National-Oilwell Varco, Inc. (NOV) Stake Lessened by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC trimmed its holdings in National-Oilwell Varco, Inc. (NYSE:NOV) by 0.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 344,795 shares of the oil and gas exploration company’s stock after selling 2,710 shares during the period. Brandywine Global Investment Management LLC’s holdings in National-Oilwell Varco were worth $8,862,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NOV. Cambridge Investment Research Advisors Inc. lifted its position in shares of National-Oilwell Varco by 33.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,083 shares of the oil and gas exploration company’s stock worth $348,000 after buying an additional 2,016 shares during the last quarter. Dupont Capital Management Corp lifted its position in shares of National-Oilwell Varco by 63.0% during the 3rd quarter. Dupont Capital Management Corp now owns 8,085 shares of the oil and gas exploration company’s stock worth $348,000 after buying an additional 3,125 shares during the last quarter. ING Groep NV purchased a new stake in shares of National-Oilwell Varco during the 3rd quarter worth approximately $310,000. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of National-Oilwell Varco by 4.9% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,200,887 shares of the oil and gas exploration company’s stock worth $51,734,000 after buying an additional 56,586 shares during the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of National-Oilwell Varco by 1.0% during the 3rd quarter. Toronto Dominion Bank now owns 248,795 shares of the oil and gas exploration company’s stock worth $10,716,000 after buying an additional 2,523 shares during the last quarter. 92.66% of the stock is owned by institutional investors.

Shares of NOV opened at $28.16 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.83 and a current ratio of 3.11. The firm has a market capitalization of $10.78 billion, a price-to-earnings ratio of -352.00, a PEG ratio of 24.43 and a beta of 1.23. National-Oilwell Varco, Inc. has a 1 year low of $24.27 and a 1 year high of $49.08.

National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings data on Wednesday, February 6th. The oil and gas exploration company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.05). The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.18 billion. National-Oilwell Varco had a negative net margin of 0.37% and a negative return on equity of 0.22%. The business’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) earnings per share. As a group, equities research analysts expect that National-Oilwell Varco, Inc. will post 0.18 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a $0.05 dividend. The ex-dividend date is Thursday, March 14th. This represents a $0.20 annualized dividend and a yield of 0.71%. National-Oilwell Varco’s dividend payout ratio is currently -250.00%.

In other National-Oilwell Varco news, VP Scott K. Duff sold 15,125 shares of the business’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $28.02, for a total value of $423,802.50. Following the transaction, the vice president now directly owns 54,098 shares of the company’s stock, valued at approximately $1,515,825.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.79% of the company’s stock.

NOV has been the topic of a number of recent research reports. Raymond James reaffirmed a “buy” rating and issued a $37.00 target price on shares of National-Oilwell Varco in a report on Thursday, December 13th. SunTrust Banks cut their target price on shares of National-Oilwell Varco to $29.00 and set a “hold” rating on the stock in a report on Monday, February 11th. Barclays set a $32.00 target price on shares of National-Oilwell Varco and gave the company a “hold” rating in a report on Saturday, February 9th. Gabelli reaffirmed a “buy” rating on shares of National-Oilwell Varco in a report on Monday, February 11th. Finally, Seaport Global Securities reaffirmed a “sell” rating and issued a $24.00 target price on shares of National-Oilwell Varco in a report on Monday, February 11th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $38.83.

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

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