Victory Capital Management Inc. reduced its position in National-Oilwell Varco, Inc. (NYSE:NOV) by 2.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 71,625 shares of the oil and gas exploration company’s stock after selling 2,091 shares during the quarter. Victory Capital Management Inc.’s holdings in National-Oilwell Varco were worth $2,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of NOV. Macquarie Group Ltd. lifted its position in National-Oilwell Varco by 11.0% in the second quarter. Macquarie Group Ltd. now owns 19,100 shares of the oil and gas exploration company’s stock worth $629,000 after purchasing an additional 1,900 shares during the period. Janus Henderson Group PLC lifted its position in National-Oilwell Varco by 17.0% in the second quarter. Janus Henderson Group PLC now owns 121,858 shares of the oil and gas exploration company’s stock worth $4,015,000 after purchasing an additional 17,701 shares during the period. Lord Abbett & CO. LLC lifted its position in National-Oilwell Varco by 1.8% in the second quarter. Lord Abbett & CO. LLC now owns 202,000 shares of the oil and gas exploration company’s stock worth $6,654,000 after purchasing an additional 3,500 shares during the period. Intl Fcstone Inc. bought a new position in National-Oilwell Varco in the second quarter worth $392,000. Finally, Shell Asset Management Co. lifted its position in National-Oilwell Varco by 163.9% in the third quarter. Shell Asset Management Co. now owns 64,296 shares of the oil and gas exploration company’s stock worth $4,893,000 after purchasing an additional 39,934 shares during the period. 91.10% of the stock is owned by hedge funds and other institutional investors.
National-Oilwell Varco, Inc. (NYSE NOV) opened at $35.61 on Tuesday. The company has a quick ratio of 1.79, a current ratio of 3.07 and a debt-to-equity ratio of 0.19. National-Oilwell Varco, Inc. has a twelve month low of $29.90 and a twelve month high of $41.90. The stock has a market capitalization of $13,536.92, a PE ratio of -56.52, a P/E/G ratio of 22.66 and a beta of 0.89.
National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.04). National-Oilwell Varco had a negative return on equity of 1.10% and a negative net margin of 3.24%. The business had revenue of $1.97 billion during the quarter. During the same period in the prior year, the firm earned ($0.15) earnings per share. research analysts predict that National-Oilwell Varco, Inc. will post 0.26 EPS for the current fiscal year.
NOV has been the subject of several research reports. Zacks Investment Research cut National-Oilwell Varco from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Capital One Financial reissued an “equal weight” rating on shares of National-Oilwell Varco in a report on Friday, October 27th. Royal Bank of Canada set a $35.00 price objective on National-Oilwell Varco and gave the company a “hold” rating in a report on Friday, October 27th. Scotiabank set a $37.00 price objective on National-Oilwell Varco and gave the company a “hold” rating in a report on Friday, October 27th. Finally, JPMorgan Chase & Co. cut their price objective on National-Oilwell Varco from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, October 30th. Five research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $38.13.
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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.
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