Garrett Wealth Advisory Group LLC Takes Position in National-Oilwell Varco, Inc. (NYSE:NOV)

Garrett Wealth Advisory Group LLC purchased a new stake in shares of National-Oilwell Varco, Inc. (NYSE:NOV) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,713 shares of the oil and gas exploration company’s stock, valued at approximately $58,000.

Other hedge funds have also added to or reduced their stakes in the company. First Trust Advisors LP boosted its holdings in National-Oilwell Varco by 111.4% in the first quarter. First Trust Advisors LP now owns 127,021 shares of the oil and gas exploration company’s stock valued at $3,384,000 after purchasing an additional 66,949 shares during the last quarter. Park National Corp OH lifted its holdings in National-Oilwell Varco by 65.9% during the 2nd quarter. Park National Corp OH now owns 55,736 shares of the oil and gas exploration company’s stock worth $1,239,000 after buying an additional 22,147 shares during the last quarter. Fulton Bank N.A. lifted its holdings in National-Oilwell Varco by 29.9% during the 2nd quarter. Fulton Bank N.A. now owns 22,213 shares of the oil and gas exploration company’s stock worth $493,000 after buying an additional 5,118 shares during the last quarter. Montecito Bank & Trust lifted its holdings in National-Oilwell Varco by 17.4% during the 2nd quarter. Montecito Bank & Trust now owns 16,722 shares of the oil and gas exploration company’s stock worth $372,000 after buying an additional 2,480 shares during the last quarter. Finally, Investors Research Corp lifted its holdings in National-Oilwell Varco by 250.0% during the 2nd quarter. Investors Research Corp now owns 1,400 shares of the oil and gas exploration company’s stock worth $31,000 after buying an additional 1,000 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Joseph W. Rovig sold 22,640 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.37, for a total value of $415,896.80. Following the sale, the insider now directly owns 73,867 shares in the company, valued at approximately $1,356,936.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Eric L. Mattson sold 4,750 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 64,503 shares in the company, valued at $1,355,853.06. The disclosure for this sale can be found here. 0.92% of the stock is owned by company insiders.

Shares of National-Oilwell Varco stock opened at $20.11 on Friday. The company has a current ratio of 3.05, a quick ratio of 1.76 and a debt-to-equity ratio of 0.29. The business’s 50 day simple moving average is $21.64 and its 200-day simple moving average is $22.54. The stock has a market capitalization of $7.93 billion, a price-to-earnings ratio of -251.38, a PEG ratio of 49.79 and a beta of 1.30. National-Oilwell Varco, Inc. has a twelve month low of $18.05 and a twelve month high of $41.76.

National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Monday, July 29th. The oil and gas exploration company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.08 billion. National-Oilwell Varco had a negative return on equity of 0.64% and a negative net margin of 63.23%. Sell-side analysts predict that National-Oilwell Varco, Inc. will post 0.03 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.99%. The ex-dividend date was Thursday, September 12th. National-Oilwell Varco’s dividend payout ratio is currently -250.00%.

A number of research analysts have commented on NOV shares. Johnson Rice raised National-Oilwell Varco from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. Seaport Global Securities raised National-Oilwell Varco from a “sell” rating to a “neutral” rating in a report on Wednesday, July 31st. Griffin Securities reaffirmed a “hold” rating on shares of National-Oilwell Varco in a 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 report on Monday, July 1st. Finally, Susquehanna Bancshares raised National-Oilwell Varco from a “neutral” rating to a “positive” rating and set a $25.00 target price on the stock in a report on Monday, August 12th. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $30.48.

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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