Hallmark Capital Management Inc. lowered its position in shares of National-Oilwell Varco, Inc. (NYSE:NOV) by 7.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,617 shares of the oil and gas exploration company’s stock after selling 1,025 shares during the period. Hallmark Capital Management Inc.’s holdings in National-Oilwell Varco were worth $280,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. TRUE Private Wealth Advisors acquired a new position in National-Oilwell Varco in the second quarter valued at approximately $26,000. Berman Capital Advisors LLC increased its position in shares of National-Oilwell Varco by 385.0% in the second 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 increased its position in shares of National-Oilwell Varco by 250.0% in the second 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. Parallel Advisors LLC increased its position in shares of National-Oilwell Varco by 33.6% in the first quarter. Parallel Advisors LLC now owns 2,334 shares of the oil and gas exploration company’s stock valued at $62,000 after buying an additional 587 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of National-Oilwell Varco during the second quarter worth approximately $103,000. Hedge funds and other institutional investors own 94.27% of the company’s stock.
In related news, Director Eric L. Mattson sold 4,750 shares of the 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 transaction, the director now directly owns 64,503 shares of the company’s stock, valued at approximately $1,355,853.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph W. Rovig sold 22,640 shares of the company’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 completion of the sale, the insider now owns 73,867 shares of the company’s stock, valued at $1,356,936.79. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by corporate insiders.
Shares of NOV opened at $23.36 on Friday. 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 12 month low of $18.05 and a 12 month high of $46.64. The stock’s 50-day moving average is $20.69 and its two-hundred day moving average is $23.56. The stock has a market cap of $9.16 billion, a PE ratio of -292.00, a P/E/G ratio of 58.62 and a beta of 1.31.
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. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.08 billion. National-Oilwell Varco had a negative return on equity of 0.64% and a negative net margin of 63.23%. On average, research analysts anticipate that National-Oilwell Varco, Inc. will post 0.03 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Thursday, September 12th. National-Oilwell Varco’s dividend payout ratio (DPR) is presently -250.00%.
Several analysts recently commented on the company. Seaport Global Securities upgraded National-Oilwell Varco from a “sell” rating to a “neutral” rating in a research report on Wednesday, July 31st. Societe Generale upgraded National-Oilwell Varco from a “neutral” rating to a “positive” rating and set a $25.00 target price for the company in a report on Monday, August 12th. AltaCorp Capital restated an “underperform” rating on shares of National-Oilwell Varco in a report on Thursday, June 20th. UBS Group set a $25.00 price target on National-Oilwell Varco and gave the company a “hold” rating in a research note on Wednesday, July 31st. Finally, Susquehanna Bancshares raised National-Oilwell Varco from a “neutral” rating to a “positive” rating and set a $25.00 price target on the stock in a research note on Monday, August 12th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the stock. National-Oilwell Varco currently has a consensus rating of “Hold” and a consensus price target of $31.61.
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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