CIBC Asset Management Inc Increases Stake in National Oilwell Varco, Inc. (NYSE:NOV)

CIBC Asset Management Inc increased its stake in National Oilwell Varco, Inc. (NYSE:NOV) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,365 shares of the oil and gas exploration company’s stock after buying an additional 113 shares during the period. CIBC Asset Management Inc’s holdings in National Oilwell Varco were worth $1,198,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of NOV. BlackRock Inc. increased its stake in National Oilwell Varco by 3,189.2% in the first quarter. BlackRock Inc. now owns 24,841,300 shares of the oil and gas exploration company’s stock valued at $995,890,000 after buying an additional 24,086,060 shares during the last quarter. FMR LLC increased its stake in National Oilwell Varco by 35.3% in the first quarter. FMR LLC now owns 9,054,139 shares of the oil and gas exploration company’s stock valued at $362,980,000 after buying an additional 2,363,202 shares during the last quarter. Schroder Investment Management Group increased its stake in National Oilwell Varco by 37,171.5% in the first quarter. Schroder Investment Management Group now owns 1,515,460 shares of the oil and gas exploration company’s stock valued at $60,723,000 after buying an additional 1,511,394 shares during the last quarter. Morgan Stanley increased its stake in National Oilwell Varco by 36.3% in the first quarter. Morgan Stanley now owns 4,218,392 shares of the oil and gas exploration company’s stock valued at $169,114,000 after buying an additional 1,124,578 shares during the last quarter. Finally, Harris Associates L P increased its stake in National Oilwell Varco by 7.2% in the first quarter. Harris Associates L P now owns 16,017,269 shares of the oil and gas exploration company’s stock valued at $642,133,000 after buying an additional 1,080,775 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Shares of National Oilwell Varco, Inc. (NYSE NOV) opened at 30.29 on Friday. The stock’s market cap is $11.51 billion. National Oilwell Varco, Inc. has a 1-year low of $30.14 and a 1-year high of $43.63. The stock’s 50 day moving average is $32.69 and its 200-day moving average is $35.77.

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

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A number of research analysts recently issued reports on NOV shares. Zacks Investment Research downgraded shares of National Oilwell Varco from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Jefferies Group LLC set a $38.00 target price on shares of National Oilwell Varco and gave the company a “hold” rating in a research report on Thursday, April 27th. ValuEngine downgraded shares of National Oilwell Varco from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Piper Jaffray Companies upgraded shares of National Oilwell Varco from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $36.00 to $37.00 in a research report on Tuesday, June 20th. Finally, Morgan Stanley restated an “overweight” rating and set a $50.00 target price (down from $60.00) on shares of National Oilwell Varco in a research report on Wednesday, June 21st. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $38.59.

About National Oilwell Varco

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

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