National-Oilwell Varco, Inc. (NOV) Shares Bought by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of National-Oilwell Varco, Inc. (NYSE:NOV) by 6.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 203,397 shares of the oil and gas exploration company’s stock after purchasing an additional 12,722 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.05% of National-Oilwell Varco worth $8,762,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NOV. State Treasurer State of Michigan increased its position in National-Oilwell Varco by 1.1% in the second quarter. State Treasurer State of Michigan now owns 113,078 shares of the oil and gas exploration company’s stock worth $4,908,000 after buying an additional 1,200 shares during the period. Commerce Bank increased its position in National-Oilwell Varco by 21.2% in the third quarter. Commerce Bank now owns 8,283 shares of the oil and gas exploration company’s stock worth $357,000 after buying an additional 1,451 shares during the period. Bank of Hawaii increased its position in National-Oilwell Varco by 4.1% in the third quarter. Bank of Hawaii now owns 38,910 shares of the oil and gas exploration company’s stock worth $1,676,000 after buying an additional 1,547 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its position in National-Oilwell Varco by 32.7% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,489 shares of the oil and gas exploration company’s stock worth $280,000 after buying an additional 1,600 shares during the period. Finally, MUFG Americas Holdings Corp increased its position in National-Oilwell Varco by 29.8% in the second quarter. MUFG Americas Holdings Corp now owns 7,183 shares of the oil and gas exploration company’s stock worth $312,000 after buying an additional 1,650 shares during the period. Hedge funds and other institutional investors own 92.58% of the company’s stock.

Several equities research analysts have weighed in on the company. Zacks Investment Research reaffirmed a “strong sell” rating on shares of National-Oilwell Varco in a research report on Wednesday, November 14th. Cowen set a $39.00 target price on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Monday, December 3rd. UBS Group set a $40.00 target price on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Tuesday, October 30th. R. F. Lafferty set a $43.00 target price on National-Oilwell Varco and gave the stock a “buy” rating in a research report on Wednesday, November 28th. Finally, ValuEngine lowered National-Oilwell Varco from a “buy” rating to a “hold” rating in a research report on Wednesday, October 17th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $42.77.

Shares of NOV opened at $29.81 on Friday. The firm has a market cap of $12.15 billion, a PE ratio of -70.98 and a beta of 1.00. The company has a current ratio of 3.17, a quick ratio of 1.78 and a debt-to-equity ratio of 0.19. National-Oilwell Varco, Inc. has a one year low of $29.74 and a one year high of $49.08.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, December 6th. National-Oilwell Varco’s dividend payout ratio (DPR) is -47.62%.

National-Oilwell Varco declared that its Board of Directors has approved a share repurchase plan on Tuesday, November 6th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the oil and gas exploration company to purchase up to 3.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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National-Oilwell Varco Profile

National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

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

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