Wetherby Asset Management Inc. raised its stake in National-Oilwell Varco, Inc. (NYSE:NOV) by 16.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,978 shares of the oil and gas exploration company’s stock after buying an additional 2,073 shares during the quarter. Wetherby Asset Management Inc.’s holdings in National-Oilwell Varco were worth $333,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in NOV. Truvestments Capital LLC acquired a new position in shares of National-Oilwell Varco during the 1st quarter worth $26,000. Investors Research Corp increased its stake 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 worth $31,000 after purchasing an additional 1,000 shares during the last quarter. Moody National Bank Trust Division increased its stake 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 worth $33,000 after purchasing an additional 685 shares during the last quarter. Parallel Advisors LLC increased its stake 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 worth $62,000 after purchasing an additional 587 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of 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 during the last quarter. Hedge funds and other institutional investors own 92.90% of the company’s stock.
National-Oilwell Varco stock traded down $0.76 during mid-day trading on Friday, reaching $20.08. The company had a trading volume of 4,183,746 shares, compared to its average volume of 5,624,845. 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, Inc. has a 52 week low of $19.57 and a 52 week high of $47.46. The stock’s 50 day simple moving average is $21.66. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of -251.00 and a beta of 1.30.
In other National-Oilwell Varco news, Director Eric L. Mattson sold 4,750 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $21.02, for a total value of $99,845.00. Following the completion of the sale, the director now directly owns 64,503 shares of the company’s stock, valued at approximately $1,355,853.06. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.92% of the stock is owned by corporate insiders.
Several research analysts have recently commented on the stock. Bank of America restated an “underperform” rating and set a $20.00 price target (down previously from $26.00) on shares of National-Oilwell Varco in a research note on Tuesday, June 25th. Raymond James raised their target price on shares of National-Oilwell Varco from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. ValuEngine upgraded shares of National-Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Cowen reiterated a “market perform” rating and issued a $27.00 target price (up from $25.00) on shares of National-Oilwell Varco in a research note on Wednesday, July 31st. Finally, Piper Jaffray Companies set a $25.00 target price on shares of National-Oilwell Varco and gave the company a “buy” rating in a research note on Monday, July 1st. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $35.08.
About National-Oilwell Varco
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.
Recommended Story: What are convertible shares?
Want to see what other hedge funds are holding NOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National-Oilwell Varco, Inc. (NYSE:NOV).
Receive News & Ratings for National-Oilwell Varco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National-Oilwell Varco and related companies with MarketBeat.com's FREE daily email newsletter.