Sei Investments Co. boosted its position in National Oilwell Varco, Inc. (NYSE:NOV) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 597,666 shares of the oil and gas exploration company’s stock after acquiring an additional 10,435 shares during the period. Sei Investments Co. owned 0.16% of National Oilwell Varco worth $21,355,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. BNP Paribas Arbitrage SA boosted its holdings in National Oilwell Varco by 21.7% in the third quarter. BNP Paribas Arbitrage SA now owns 239,528 shares of the oil and gas exploration company’s stock valued at $8,558,000 after acquiring an additional 42,642 shares during the last quarter. Wrapmanager Inc. bought a new position in National Oilwell Varco in the third quarter valued at about $202,000. FDx Advisors Inc. boosted its holdings in National Oilwell Varco by 14.5% in the third quarter. FDx Advisors Inc. now owns 45,736 shares of the oil and gas exploration company’s stock valued at $1,634,000 after acquiring an additional 5,791 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its holdings in National Oilwell Varco by 3.8% in the third quarter. Candriam Luxembourg S.C.A. now owns 49,022 shares of the oil and gas exploration company’s stock valued at $1,752,000 after acquiring an additional 1,788 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in National Oilwell Varco by 42.8% in the third quarter. Bessemer Group Inc. now owns 116,902 shares of the oil and gas exploration company’s stock valued at $4,177,000 after acquiring an additional 35,061 shares during the last quarter. Institutional investors and hedge funds own 90.16% of the company’s stock.
National Oilwell Varco, Inc. (NYSE NOV) opened at $33.06 on Tuesday. The company has a current ratio of 2.75, a quick ratio of 1.62 and a debt-to-equity ratio of 0.19. National Oilwell Varco, Inc. has a one year low of $29.90 and a one year high of $43.63.
National Oilwell Varco (NYSE:NOV) last issued its earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. National Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the company posted ($0.34) EPS. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. research analysts predict that National Oilwell Varco, Inc. will post -0.41 earnings per share for the current fiscal year.
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A number of brokerages have issued reports on NOV. Jefferies Group LLC set a $34.00 target price on National Oilwell Varco and gave the stock a “hold” rating in a report on Thursday, October 5th. Piper Jaffray Companies restated a “buy” rating and set a $36.00 target price on shares of National Oilwell Varco in a report on Tuesday, September 26th. Deutsche Bank AG began coverage on National Oilwell Varco in a report on Tuesday, October 10th. They set a “hold” rating and a $39.00 target price on the stock. Citigroup Inc. raised their target price on National Oilwell Varco from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, October 5th. Finally, ValuEngine upgraded National Oilwell Varco from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Six equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $37.83.
National Oilwell Varco Company Profile
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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