Eagle Asset Management Inc. purchased a new position in shares of National-Oilwell Varco, Inc. (NYSE:NOV) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,667,245 shares of the oil and gas exploration company’s stock, valued at approximately $35,345,000.
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A number of other institutional investors also recently made changes to their positions in the stock. Lindbrook Capital LLC bought a new position in shares of National-Oilwell Varco during the 3rd quarter worth $25,000. Usca Ria LLC bought a new position in shares of National-Oilwell Varco during the 3rd quarter worth $25,000. TRUE Private Wealth Advisors bought a new position in shares of National-Oilwell Varco during the 2nd quarter worth $26,000. FinTrust Capital Advisors LLC grew its stake in shares of National-Oilwell Varco by 156.2% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 1,227 shares of the oil and gas exploration company’s stock worth $26,000 after acquiring an additional 748 shares during the period. Finally, Cornerstone Advisors Inc. grew its stake in shares of National-Oilwell Varco by 285.0% during the 3rd quarter. Cornerstone Advisors Inc. now owns 1,390 shares of the oil and gas exploration company’s stock worth $29,000 after acquiring an additional 1,029 shares during the period. Institutional investors and hedge funds own 94.63% of the company’s stock.
In other National-Oilwell Varco news, insider Joseph W. Rovig sold 22,640 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $18.37, for a total value of $415,896.80. Following the sale, the insider now owns 73,867 shares of the company’s stock, valued at approximately $1,356,936.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Scott K. Duff sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $23.51, for a total value of $141,060.00. Following the completion of the sale, the vice president now directly owns 42,721 shares in the company, valued at approximately $1,004,370.71. The disclosure for this sale can be found here. Company insiders own 0.92% of the company’s stock.
NOV has been the subject of several research reports. Griffin Securities reiterated a “hold” rating on shares of National-Oilwell Varco in a research note on Thursday, August 1st. UBS Group set a $25.00 price target on National-Oilwell Varco and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Wells Fargo & Co increased their price target on National-Oilwell Varco from $22.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, September 12th. Societe Generale raised National-Oilwell Varco from a “neutral” rating to a “positive” rating and set a $25.00 price objective on the stock in a report on Monday, August 12th. Finally, Jefferies Financial Group raised National-Oilwell Varco from a “hold” rating to a “buy” rating and increased their price objective for the stock from $23.00 to $25.00 in a report on Thursday, September 5th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $27.58.
Shares of NYSE:NOV traded up $0.05 on Friday, hitting $23.38. The company’s stock had a trading volume of 2,593,934 shares, compared to its average volume of 4,227,313. The company has a 50-day simple moving average of $21.68 and a 200 day simple moving average of $21.97. National-Oilwell Varco, Inc. has a 1 year low of $18.05 and a 1 year high of $35.62. The company has a market capitalization of $9.32 billion, a PE ratio of -292.25, a PEG ratio of 10.13 and a beta of 1.32. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.86 and a quick ratio of 1.75.
National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Monday, October 28th. The oil and gas exploration company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.76). National-Oilwell Varco had a negative net margin of 66.29% and a negative return on equity of 2.82%. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.17 billion. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. On average, equities research analysts expect that National-Oilwell Varco, Inc. will post 0.16 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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