National Oilwell Varco, Inc. (NYSE:NOV) Stake Decreased by Northpointe Capital LLC

Northpointe Capital LLC decreased its holdings in National Oilwell Varco, Inc. (NYSE:NOV) by 10.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 53,511 shares of the oil and gas exploration company’s stock after selling 6,497 shares during the period. Northpointe Capital LLC’s holdings in National Oilwell Varco were worth $1,912,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in National Oilwell Varco by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 38,794,232 shares of the oil and gas exploration company’s stock worth $1,277,882,000 after buying an additional 930,849 shares during the period. First Eagle Investment Management LLC lifted its holdings in National Oilwell Varco by 1.7% during the 2nd quarter. First Eagle Investment Management LLC now owns 26,505,005 shares of the oil and gas exploration company’s stock worth $873,075,000 after buying an additional 452,148 shares during the period. BlackRock Inc. lifted its holdings in National Oilwell Varco by 1.4% during the 2nd quarter. BlackRock Inc. now owns 25,195,874 shares of the oil and gas exploration company’s stock worth $829,954,000 after buying an additional 354,574 shares during the period. Harris Associates L P lifted its holdings in National Oilwell Varco by 16.0% during the 2nd quarter. Harris Associates L P now owns 18,574,753 shares of the oil and gas exploration company’s stock worth $611,852,000 after buying an additional 2,557,484 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in National Oilwell Varco by 2.8% during the 1st quarter. Clearbridge Investments LLC now owns 13,209,045 shares of the oil and gas exploration company’s stock worth $529,551,000 after buying an additional 359,809 shares during the period. 90.30% of the stock is currently owned by institutional investors.

Several research analysts have recently weighed in on NOV shares. B. Riley reissued a “buy” rating on shares of National Oilwell Varco in a research report on Wednesday, November 1st. R. F. Lafferty reissued a “hold” rating and issued a $33.00 price objective (down from $38.00) on shares of National Oilwell Varco in a research report on Tuesday, August 1st. J P Morgan Chase & Co decreased their target price on National Oilwell Varco from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, October 30th. Seaport Global Securities reaffirmed a “sell” rating on shares of National Oilwell Varco in a research report on Friday, July 28th. Finally, Zacks Investment Research raised National Oilwell Varco from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Six investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. National Oilwell Varco currently has an average rating of “Hold” and a consensus price target of $37.83.

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National Oilwell Varco, Inc. (NYSE NOV) traded down $1.03 during trading on Friday, reaching $33.52. 4,237,500 shares of the company’s stock traded hands, compared to its average volume of 3,352,377. National Oilwell Varco, Inc. has a 12 month low of $29.90 and a 12 month high of $43.63. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.75 and a quick ratio of 1.62.

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

National Oilwell Varco 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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