Strs Ohio Reduces Holdings in National-Oilwell Varco, Inc. (NYSE:NOV)

Strs Ohio lessened its position in shares of National-Oilwell Varco, Inc. (NYSE:NOV) by 8.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 202,037 shares of the oil and gas exploration company’s stock after selling 19,194 shares during the period. Strs Ohio owned 0.05% of National-Oilwell Varco worth $4,491,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Truvestments Capital LLC purchased a new position in shares of National-Oilwell Varco during the 1st quarter valued at $26,000. Investors Research Corp lifted its position in shares of National-Oilwell Varco by 250.0% during the 2nd quarter. Investors Research Corp now owns 1,400 shares of the oil and gas exploration company’s stock valued at $31,000 after buying an additional 1,000 shares during the last quarter. Moody National Bank Trust Division lifted its position in shares of National-Oilwell Varco by 125.0% during the 1st quarter. Moody National Bank Trust Division now owns 1,233 shares of the oil and gas exploration company’s stock valued at $33,000 after buying an additional 685 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of National-Oilwell Varco by 33.6% during the 1st quarter. Parallel Advisors LLC now owns 2,334 shares of the oil and gas exploration company’s stock valued at $62,000 after buying an additional 587 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in National-Oilwell Varco by 66.1% during the 1st quarter. Quadrant Capital Group LLC now owns 4,575 shares of the oil and gas exploration company’s stock worth $118,000 after purchasing an additional 1,820 shares in the last quarter. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

In other National-Oilwell Varco news, Director Eric L. Mattson sold 4,750 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $21.02, for a total value of $99,845.00. Following the sale, the director now owns 64,503 shares of the company’s stock, valued at approximately $1,355,853.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.92% of the company’s stock.

NOV has been the topic of a number of recent research reports. Citigroup raised National-Oilwell Varco from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $23.00 to $28.00 in a report on Wednesday, July 31st. AltaCorp Capital reissued an “underperform” rating on shares of National-Oilwell Varco in a report on Thursday, June 20th. Susquehanna Bancshares set a $23.00 price objective on National-Oilwell Varco and gave the stock a “hold” rating in a report on Friday, July 19th. UBS Group set a $25.00 price objective on National-Oilwell Varco and gave the stock a “hold” rating in a report on Wednesday, July 31st. Finally, ValuEngine raised National-Oilwell Varco from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Five research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $35.08.

NYSE:NOV opened at $20.08 on Friday. The firm has a 50-day simple moving average of $21.66. National-Oilwell Varco, Inc. has a twelve month low of $19.57 and a twelve month high of $47.46. The stock has a market cap of $7.95 billion, a PE ratio of -251.00 and a beta of 1.30. The company has a current ratio of 3.05, a quick ratio of 1.76 and a debt-to-equity ratio of 0.29.

National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Monday, July 29th. The oil and gas exploration company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.03. National-Oilwell Varco had a negative return on equity of 0.64% and a negative net margin of 63.23%. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.08 billion. As a group, equities analysts expect that National-Oilwell Varco, Inc. will post -0.04 earnings per share for the current fiscal year.

National-Oilwell Varco Company Profile

National Oilwell Varco, Inc designs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. It operates in three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. The Wellbore Technologies segment offers various equipment and technologies used to perform drilling operations.

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

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