National Pension Service increased its position in National-Oilwell Varco, Inc. (NYSE:NOV) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 426,721 shares of the oil and gas exploration company’s stock after purchasing an additional 39,906 shares during the quarter. National Pension Service owned approximately 0.11% of National-Oilwell Varco worth $15,370,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC purchased a new stake in National-Oilwell Varco during the third quarter worth $226,421,000. Harris Associates L P lifted its holdings in National-Oilwell Varco by 16.0% during the second 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. The Manufacturers Life Insurance Company lifted its holdings in National-Oilwell Varco by 459.0% during the second quarter. The Manufacturers Life Insurance Company now owns 2,639,603 shares of the oil and gas exploration company’s stock worth $86,948,000 after buying an additional 2,167,397 shares during the period. Vanguard Group Inc. lifted its holdings in National-Oilwell Varco by 2.5% during the second 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. Finally, Wells Fargo & Company MN lifted its holdings in National-Oilwell Varco by 17.1% during the third quarter. Wells Fargo & Company MN now owns 5,248,794 shares of the oil and gas exploration company’s stock worth $187,541,000 after buying an additional 765,634 shares during the period. 91.70% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on NOV. B. Riley restated a “buy” rating on shares of National-Oilwell Varco in a report on Wednesday, November 1st. Barclays set a $37.00 price objective on National-Oilwell Varco and gave the company an “equal weight” rating in a report on Thursday, February 8th. Cowen increased their price objective on National-Oilwell Varco from $33.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, February 8th. Seaport Global Securities reiterated a “sell” rating and set a $30.00 price objective on shares of National-Oilwell Varco in a report on Monday. Finally, TheStreet upgraded National-Oilwell Varco from a “d+” rating to a “c” rating in a report on Tuesday, February 6th. Five analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $38.13.
Shares of National-Oilwell Varco, Inc. (NYSE NOV) traded up $1.48 during mid-day trading on Wednesday, reaching $35.14. The company had a trading volume of 4,680,000 shares, compared to its average volume of 3,420,000. The stock has a market cap of $13,350.00, a price-to-earnings ratio of -55.78, a price-to-earnings-growth ratio of 22.09 and a beta of 0.89. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.07 and a quick ratio of 1.79. National-Oilwell Varco, Inc. has a one year low of $29.90 and a one year high of $41.90.
National-Oilwell Varco (NYSE:NOV) last issued its earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.04). The company had revenue of $1.97 billion during the quarter. National-Oilwell Varco had a negative return on equity of 1.10% and a negative net margin of 3.24%. During the same quarter last year, the business earned ($0.15) EPS. equities analysts predict that National-Oilwell Varco, Inc. will post 0.25 earnings per share for the current year.
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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.
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