Trading Report: The Jackson Park Capital LLC Acquires New Stake in National Oilwell Varco (NOV)

The Jackson Park Capital LLC Acquires New Stake in National Oilwell Varco (NOV)

Jackson Park Capital LLC purchased a new stake in shares of National Oilwell Varco (NYSE:NOV) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 37,000 shares of the oil and gas exploration company’s stock, valued at approximately $1,245,000. National Oilwell Varco accounts for about 1.7% of Jackson Park Capital LLC’s investment portfolio, making the stock its 27th largest position.

A number of other institutional investors have also recently bought and sold shares of the stock. Motley Fool Wealth Management LLC boosted its position in National Oilwell Varco by 5.0% in the first quarter. Motley Fool Wealth Management LLC now owns 82,645 shares of the oil and gas exploration company’s stock valued at $2,570,000 after buying an additional 3,967 shares during the period. ING Groep NV purchased a new position in National Oilwell Varco during the first quarter valued at approximately $419,000. Huntington Asset Advisors Inc. purchased a new position in National Oilwell Varco during the first quarter valued at approximately $174,000. Bessemer Group Inc. boosted its position in National Oilwell Varco by 6,283.2% in the first quarter. Bessemer Group Inc. now owns 210,710 shares of the oil and gas exploration company’s stock valued at $6,553,000 after buying an additional 207,409 shares during the period. Finally, Hikari Power Ltd boosted its position in National Oilwell Varco by 259.7% in the first quarter. Hikari Power Ltd now owns 559,000 shares of the oil and gas exploration company’s stock valued at $17,385,000 after buying an additional 403,600 shares during the period. 94.11% of the stock is owned by hedge funds and other institutional investors.

Shares of National Oilwell Varco (NYSE:NOV) traded down 0.05% during trading on Friday, hitting $36.99. The stock had a trading volume of 2,053,168 shares. The company’s market capitalization is $13.97 billion. National Oilwell Varco has a 1-year low of $25.74 and a 1-year high of $41.21. The firm has a 50-day moving average of $34.47 and a 200 day moving average of $32.88.

National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Thursday, July 28th. The oil and gas exploration company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.02. National Oilwell Varco had a negative net margin of 17.14% and a positive return on equity of 1.83%. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the firm posted $0.77 earnings per share. National Oilwell Varco’s revenue for the quarter was down 55.9% on a year-over-year basis. Equities research analysts predict that National Oilwell Varco will post ($0.92) earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were paid a $0.05 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. National Oilwell Varco’s dividend payout ratio is -4.40%.

Several equities research analysts have recently weighed in on the company. Citigroup Inc. lowered National Oilwell Varco from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $37.00 to $30.00 in a research note on Monday. Seaport Global Securities reiterated a “neutral” rating on shares of National Oilwell Varco in a research note on Friday, August 19th. Vetr upgraded National Oilwell Varco from a “buy” rating to a “strong-buy” rating and set a $40.44 price objective on the stock in a research note on Tuesday, June 21st. Bank of America Corp. reiterated an “underperform” rating on shares of National Oilwell Varco in a research note on Monday, June 13th. Finally, Zacks Investment Research upgraded National Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Monday, June 13th. Five research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $34.70.

In related news, VP Scott K. Duff sold 3,181 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $33.40, for a total value of $106,245.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

About National Oilwell Varco

National Oilwell Varco, Inc (NOV) is engaged in providing design, manufacture and sale of equipment and components used in oil and gas drilling, completion and production operations. The Company operates through four segments: Rig Systems, which makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore; Rig Aftermarket, which provides aftermarket products and services to support land and offshore rigs, and drilling rig components manufactured by the Company’s Rig Systems segment; Wellbore Technologies, which sells and rents solids control equipment, and provides solids control, waste management and drilling fluids services, and Completion & Production Solutions, which provides technologies for well completions and oil and gas production.

Related posts

Leave a Comment