WINTON GROUP Ltd Purchases 71,328 Shares of National-Oilwell Varco, Inc. (NOV)

WINTON GROUP Ltd lifted its position in shares of National-Oilwell Varco, Inc. (NYSE:NOV) by 34.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 281,389 shares of the oil and gas exploration company’s stock after acquiring an additional 71,328 shares during the quarter. WINTON GROUP Ltd owned approximately 0.07% of National-Oilwell Varco worth $12,122,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Parnassus Investments CA boosted its holdings in shares of National-Oilwell Varco by 48.5% during 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 acquiring an additional 3,374,289 shares in the last quarter. Pzena Investment Management LLC acquired a new stake in shares of National-Oilwell Varco during the 2nd quarter valued at $191,593,000. Ruffer LLP acquired a new stake in shares of National-Oilwell Varco during the 2nd quarter valued at $170,243,000. Dimensional Fund Advisors LP boosted its holdings in shares of National-Oilwell Varco by 0.8% during 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 acquiring an additional 28,498 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of National-Oilwell Varco by 0.9% during 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 acquiring an additional 16,649 shares in the last quarter. 95.24% of the stock is currently owned by institutional investors.

Shares of National-Oilwell Varco stock opened at $35.04 on Friday. National-Oilwell Varco, Inc. has a one year low of $31.47 and a one year high of $49.08. The stock has a market capitalization of $14.13 billion, a P/E ratio of -83.71 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 announced that its Board of Directors has approved a share repurchase program on Tuesday, November 6th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the oil and gas exploration company to purchase up to 3.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Several equities research analysts recently weighed in on NOV shares. Morgan Stanley started coverage on National-Oilwell Varco in a report on Tuesday, September 18th. They set an “equal weight” rating and a $50.00 price objective on the stock. Johnson Rice raised National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Tuesday, October 2nd. Cowen reaffirmed a “hold” rating and set a $45.00 target price on shares of National-Oilwell Varco in a report on Friday, October 12th. Credit Suisse Group set a $43.00 price objective on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Monday, July 30th. Finally, Stifel Nicolaus initiated coverage on National-Oilwell Varco in a research report on Monday, September 10th. They issued a “buy” rating and a $54.00 price objective for the company. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $43.27.

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

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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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