Cornerstone Capital Management Holdings LLC. Sells 538,542 Shares of National Oilwell Varco, Inc. (NOV)

Cornerstone Capital Management Holdings LLC. trimmed its holdings in National Oilwell Varco, Inc. (NYSE:NOV) by 89.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,931 shares of the oil and gas exploration company’s stock after selling 538,542 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in National Oilwell Varco were worth $2,138,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of NOV. Fernwood Investment Management LLC lifted its holdings in shares of National Oilwell Varco by 0.6% in the second quarter. Fernwood Investment Management LLC now owns 15,765 shares of the oil and gas exploration company’s stock valued at $519,000 after buying an additional 100 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of National Oilwell Varco by 0.3% in the second quarter. CIBC Asset Management Inc now owns 36,365 shares of the oil and gas exploration company’s stock valued at $1,198,000 after buying an additional 113 shares during the period. Cadence Capital Management LLC lifted its holdings in shares of National Oilwell Varco by 1.0% in the second quarter. Cadence Capital Management LLC now owns 14,143 shares of the oil and gas exploration company’s stock valued at $466,000 after buying an additional 143 shares during the period. Peddock Capital Advisors LLC lifted its holdings in shares of National Oilwell Varco by 1.7% in the second quarter. Peddock Capital Advisors LLC now owns 9,188 shares of the oil and gas exploration company’s stock valued at $303,000 after buying an additional 150 shares during the period. Finally, Lakeview Capital Partners LLC lifted its holdings in shares of National Oilwell Varco by 2.6% in the second quarter. Lakeview Capital Partners LLC now owns 6,194 shares of the oil and gas exploration company’s stock valued at $204,000 after buying an additional 155 shares during the period. Institutional investors and hedge funds own 90.38% of the company’s stock.

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National Oilwell Varco, Inc. (NYSE:NOV) traded down 1.86% during trading on Friday, hitting $33.23. The company had a trading volume of 7,146,312 shares. The company’s market capitalization is $12.63 billion. National Oilwell Varco, Inc. has a one year low of $29.90 and a one year high of $43.63. The stock has a 50-day moving average of $34.55 and a 200 day moving average of $33.53.

National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the firm posted ($0.34) EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. Equities analysts forecast that National Oilwell Varco, Inc. will post ($0.41) EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.60%. The ex-dividend date was Thursday, September 14th. National Oilwell Varco’s dividend payout ratio is presently -8.03%.

Several equities research analysts have recently commented on the company. Scotiabank set a $37.00 target price on National Oilwell Varco and gave the company a “hold” rating in a report on Friday. Royal Bank Of Canada reaffirmed a “hold” rating and set a $35.00 target price on shares of National Oilwell Varco in a report on Friday. Capital One Financial Corporation reaffirmed an “equal weight” rating on shares of National Oilwell Varco in a report on Friday. Zacks Investment Research downgraded National Oilwell Varco from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Finally, FBR & Co reaffirmed a “buy” rating on shares of National Oilwell Varco in a report on Monday, October 16th. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $38.52.

About National Oilwell Varco

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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