Oxford Asset Management Invests $780,000 in National-Oilwell Varco, Inc. (NOV)
Oxford Asset Management bought a new stake in shares of National-Oilwell Varco, Inc. (NYSE:NOV) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 19,454 shares of the oil and gas exploration company’s stock, valued at approximately $780,000.
A number of other institutional investors also recently bought and sold shares of the stock. Dodge & Cox bought a new position in National-Oilwell Varco during the fourth quarter valued at about $1,171,647,000. Norges Bank acquired a new stake in shares of National-Oilwell Varco during the fourth quarter worth $132,512,000. Bank of Montreal Can raised its stake in shares of National-Oilwell Varco by 146.8% in the first quarter. Bank of Montreal Can now owns 3,274,041 shares of the oil and gas exploration company’s stock worth $131,257,000 after buying an additional 1,947,233 shares during the last quarter. Harris Associates L P raised its stake in shares of National-Oilwell Varco by 7.2% in the first quarter. Harris Associates L P now owns 16,017,269 shares of the oil and gas exploration company’s stock worth $642,133,000 after buying an additional 1,080,775 shares during the last quarter. Finally, State Street Corp raised its stake in shares of National-Oilwell Varco by 4.9% in the fourth quarter. State Street Corp now owns 22,236,890 shares of the oil and gas exploration company’s stock worth $832,548,000 after buying an additional 1,044,224 shares during the last quarter. Institutional investors own 94.98% of the company’s stock.
National-Oilwell Varco, Inc. (NOV) opened at 34.21 on Friday. The firm’s market capitalization is $13.00 billion. The firm has a 50-day moving average price of $33.92 and a 200-day moving average price of $37.46. National-Oilwell Varco, Inc. has a one year low of $29.79 and a one year high of $43.63.
National-Oilwell Varco (NYSE:NOV) last announced its earnings results on Wednesday, April 26th. The oil and gas exploration company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.03. National-Oilwell Varco had a negative return on equity of 2.08% and a negative net margin of 33.26%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the business posted ($0.06) EPS. The company’s revenue was down 20.5% on a year-over-year basis. Equities analysts anticipate that National-Oilwell Varco, Inc. will post ($0.40) earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.58%. National-Oilwell Varco’s dividend payout ratio (DPR) is currently -3.12%.
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A number of equities research analysts have recently weighed in on the company. ValuEngine lowered National-Oilwell Varco from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Jefferies Group LLC set a $38.00 price target on National-Oilwell Varco and gave the stock a “hold” rating in a research note on Wednesday, May 31st. Zacks Investment Research lowered National-Oilwell Varco from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. BMO Capital Markets set a $30.00 price target on National-Oilwell Varco and gave the stock a “sell” rating in a research note on Wednesday, April 12th. Finally, Vetr upgraded National-Oilwell Varco from a “buy” rating to a “strong-buy” rating and set a $45.00 price target on the stock in a research note on Monday, April 10th. Five research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $38.74.
National-Oilwell Varco Company Profile
National Oilwell Varco, Inc is an oilfield equipment manufacturer and technology provider. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies and Completion & Production Solutions. The Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore.
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