National-Oilwell Varco, Inc. (NOV) Shares Bought by KBC Group NV

KBC Group NV grew its position in shares of National-Oilwell Varco, Inc. (NYSE:NOV) by 32.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,171 shares of the oil and gas exploration company’s stock after purchasing an additional 10,217 shares during the period. KBC Group NV’s holdings in National-Oilwell Varco were worth $1,507,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. IHT Wealth Management LLC lifted its stake in shares of National-Oilwell Varco by 1,923.1% in the 2nd quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock valued at $112,000 after acquiring an additional 500 shares during the last quarter. Tiedemann Wealth Management LLC lifted its stake in shares of National-Oilwell Varco by 77.8% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 11,668 shares of the oil and gas exploration company’s stock valued at $194,000 after acquiring an additional 5,107 shares during the last quarter. IBM Retirement Fund bought a new stake in shares of National-Oilwell Varco in the 3rd quarter valued at about $200,000. Wrapmanager Inc. bought a new stake in shares of National-Oilwell Varco in the 3rd quarter valued at about $202,000. Finally, Smith Salley & Associates bought a new stake in shares of National-Oilwell Varco in the 3rd quarter valued at about $214,000. 92.56% of the stock is owned by hedge funds and other institutional investors.

National-Oilwell Varco, Inc. (NYSE NOV) traded down $0.15 during mid-day trading on Wednesday, hitting $33.14. The company’s stock had a trading volume of 1,859,800 shares, compared to its average volume of 3,279,031. National-Oilwell Varco, Inc. has a 1 year low of $29.90 and a 1 year high of $41.90. The company has a current ratio of 2.75, a quick ratio of 1.62 and a debt-to-equity ratio of 0.19.

National-Oilwell Varco (NYSE:NOV) last posted its earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. National-Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the business earned ($0.34) EPS. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. analysts expect that National-Oilwell Varco, Inc. will post -0.41 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.60%. National-Oilwell Varco’s dividend payout ratio (DPR) is -8.03%.

A number of equities research analysts have recently weighed in on the company. Jefferies Group set a $34.00 target price on National-Oilwell Varco and gave the company a “hold” rating in a research note on Thursday, October 5th. Piper Jaffray Companies reissued a “buy” rating and issued a $36.00 target price on shares of National-Oilwell Varco in a research note on Tuesday, September 26th. Deutsche Bank assumed coverage on National-Oilwell Varco in a research note on Tuesday, October 10th. They issued a “hold” rating and a $39.00 target price for the company. Citigroup upped their price target on National-Oilwell Varco from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, October 5th. Finally, ValuEngine raised National-Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $38.00.

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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.

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

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