National-Oilwell Varco, Inc. (NOV) Stake Lifted by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. grew its holdings in National-Oilwell Varco, Inc. (NYSE:NOV) by 3.5% during the third quarter, HoldingsChannel.com reports. The firm owned 61,257 shares of the oil and gas exploration company’s stock after acquiring an additional 2,100 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in National-Oilwell Varco were worth $2,639,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Parnassus Investments CA lifted its stake in shares of National-Oilwell Varco by 48.5% in the 2nd quarter. Parnassus Investments CA now owns 10,325,152 shares of the oil and gas exploration company’s stock valued at $448,112,000 after purchasing an additional 3,374,289 shares during the period. Pzena Investment Management LLC bought a new stake in National-Oilwell Varco in the 2nd quarter valued at about $191,593,000. Ruffer LLP bought a new stake in National-Oilwell Varco in the 2nd quarter valued at about $170,243,000. Dimensional Fund Advisors LP increased its position in National-Oilwell Varco by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,484,553 shares of the oil and gas exploration company’s stock valued at $151,227,000 after buying an additional 28,498 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in National-Oilwell Varco by 0.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,822,519 shares of the oil and gas exploration company’s stock valued at $79,098,000 after buying an additional 16,649 shares in the last quarter. 95.24% of the stock is currently owned by institutional investors.

In other news, Director Eric L. Mattson sold 11,112 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $45.34, for a total value of $503,818.08. Following the completion of the transaction, the director now directly owns 66,862 shares of the company’s stock, valued at $3,031,523.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Eric L. Mattson sold 5,284 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $45.06, for a total value of $238,097.04. Following the completion of the transaction, the director now directly owns 66,862 shares of the company’s stock, valued at $3,012,801.72. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

NOV stock opened at $35.68 on Friday. The company has a market capitalization of $14.13 billion, a PE ratio of -84.95 and a beta of 1.03. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.17 and a quick ratio of 1.78. National-Oilwell Varco, Inc. has a 12-month low of $31.47 and a 12-month high of $49.08.

National-Oilwell Varco declared that its board has approved a stock repurchase plan on Tuesday, November 6th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the oil and gas exploration company to buy up to 3.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

NOV has been the subject of a number of research analyst reports. BMO Capital Markets boosted their target price on National-Oilwell Varco from $32.00 to $39.00 and gave the company a “sell” rating in a research report on Monday, July 30th. Wells Fargo & Co boosted their target price on National-Oilwell Varco from $41.00 to $43.00 and gave the company a “hold” rating in a research report on Sunday, July 29th. Credit Suisse Group set a $43.00 target price on National-Oilwell Varco and gave the company a “hold” rating in a research report on Monday, July 30th. Raymond James boosted their target price on National-Oilwell Varco from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, July 30th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $42.00 target price on shares of National-Oilwell Varco in a research report on Monday, July 30th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the stock. National-Oilwell Varco presently has a consensus rating of “Hold” and an average price target of $43.27.

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National-Oilwell Varco Company Profile

National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

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Institutional Ownership by Quarter for National-Oilwell Varco (NYSE:NOV)

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