CWM Advisors LLC reduced its stake in National-Oilwell Varco, Inc. (NYSE:NOV) by 5.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,015 shares of the oil and gas exploration company’s stock after selling 1,220 shares during the period. CWM Advisors LLC’s holdings in National-Oilwell Varco were worth $551,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in NOV. First Trust Advisors LP grew its holdings in shares of National-Oilwell Varco by 111.4% in the first quarter. First Trust Advisors LP now owns 127,021 shares of the oil and gas exploration company’s stock worth $3,384,000 after purchasing an additional 66,949 shares during the last quarter. Man Group plc bought a new stake in National-Oilwell Varco during the 2nd quarter valued at $827,000. UBS Asset Management Americas Inc. boosted its position in National-Oilwell Varco by 1.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,537,940 shares of the oil and gas exploration company’s stock valued at $34,188,000 after buying an additional 22,533 shares during the period. Price T Rowe Associates Inc. MD boosted its position in National-Oilwell Varco by 0.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 692,533 shares of the oil and gas exploration company’s stock valued at $15,395,000 after buying an additional 5,553 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in National-Oilwell Varco by 18,815.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,885,456 shares of the oil and gas exploration company’s stock valued at $41,913,000 after buying an additional 1,875,488 shares during the period. Hedge funds and other institutional investors own 95.36% of the company’s stock.
A number of equities analysts have issued reports on NOV shares. AltaCorp Capital upgraded shares of National-Oilwell Varco from an “underperform” rating to a “sector perform” rating in a research report on Wednesday, December 18th. Wells Fargo & Co increased their target price on shares of National-Oilwell Varco from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Thursday, January 9th. Cowen increased their target price on shares of National-Oilwell Varco from $24.00 to $26.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Citigroup raised their target price on National-Oilwell Varco from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Sanford C. Bernstein initiated coverage on National-Oilwell Varco in a report on Monday, January 13th. They set a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $26.35.
National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data on Monday, October 28th. The oil and gas exploration company reported ($0.64) earnings per share for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.17 billion. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities research analysts expect that National-Oilwell Varco, Inc. will post 0.19 earnings per share for the current fiscal year.
In other news, VP Scott K. Duff sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $23.51, for a total value of $141,060.00. Following the completion of the transaction, the vice president now owns 42,721 shares in the company, valued at approximately $1,004,370.71. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.92% of the stock is currently owned by corporate insiders.
National-Oilwell Varco 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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