National Oilwell Varco, Inc. (NYSE:NOV) Shares Bought by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management boosted its stake in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 5.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,960 shares of the oil and gas exploration company’s stock after buying an additional 765 shares during the period. Hanson & Doremus Investment Management’s holdings in National Oilwell Varco were worth $493,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NOV. Wealth Enhancement Advisory Services LLC increased its position in National Oilwell Varco by 12.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 24,380 shares of the oil and gas exploration company’s stock worth $794,000 after buying an additional 2,652 shares in the last quarter. Fairbanks Capital Management Inc. bought a new position in National Oilwell Varco during the second quarter worth approximately $298,000. Russell Investments Group Ltd. increased its position in National Oilwell Varco by 28.0% in the second quarter. Russell Investments Group Ltd. now owns 294,690 shares of the oil and gas exploration company’s stock worth $9,710,000 after buying an additional 64,419 shares in the last quarter. Delta Asset Management LLC TN increased its position in National Oilwell Varco by 2.9% in the second quarter. Delta Asset Management LLC TN now owns 256,546 shares of the oil and gas exploration company’s stock worth $8,451,000 after buying an additional 7,251 shares in the last quarter. Finally, Doyle Wealth Management increased its position in National Oilwell Varco by 207.1% in the second quarter. Doyle Wealth Management now owns 343,390 shares of the oil and gas exploration company’s stock worth $11,311,000 after buying an additional 231,586 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

National Oilwell Varco, Inc. (NOV) traded down 0.20% during trading on Friday, hitting $30.29. The company had a trading volume of 3,419,290 shares. The firm has a 50-day moving average of $32.74 and a 200 day moving average of $35.83. National Oilwell Varco, Inc. has a 12-month low of $30.14 and a 12-month high of $43.63. The company’s market capitalization is $11.51 billion.

National Oilwell Varco (NYSE:NOV) last issued its earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.14). The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.78 billion. National Oilwell Varco had a negative return on equity of 2.12% and a negative net margin of 33.24%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the business posted ($0.30) EPS. On average, equities research analysts forecast that National Oilwell Varco, Inc. will post ($0.40) earnings per share for the current year.

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NOV has been the subject of a number of research analyst reports. BMO Capital Markets reissued a “sell” rating and set a $30.00 target price on shares of National Oilwell Varco in a research report on Thursday, June 22nd. Credit Suisse Group set a $35.00 target price on shares of National Oilwell Varco and gave the stock a “hold” rating in a research report on Saturday, July 29th. Barclays PLC reissued a “hold” rating and set a $38.00 target price on shares of National Oilwell Varco in a research report on Wednesday, August 2nd. SunTrust Banks, Inc. downgraded shares of National Oilwell Varco from a “hold” rating to a “sell” rating and increased their target price for the stock from $29.00 to $50.00 in a research report on Monday. They noted that the move was a valuation call. Finally, BidaskClub upgraded National Oilwell Varco from a “strong sell” rating to a “sell” rating in a report on Saturday, August 5th. Four investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. National Oilwell Varco presently has an average rating of “Hold” and a consensus price target of $38.59.

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.

Institutional Ownership by Quarter for National Oilwell Varco (NYSE:NOV)

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