Strs Ohio Sells 43,466 Shares of National Oilwell Varco, Inc. (NOV)

Strs Ohio decreased its position in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 7.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 568,327 shares of the oil and gas exploration company’s stock after selling 43,466 shares during the period. Strs Ohio owned approximately 0.15% of National Oilwell Varco worth $18,720,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NOV. Moody Lynn & Lieberson LLC raised its stake in National Oilwell Varco by 0.4% in the first quarter. Moody Lynn & Lieberson LLC now owns 6,684 shares of the oil and gas exploration company’s stock worth $268,000 after buying an additional 29 shares during the period. Cleararc Capital Inc. raised its stake in National Oilwell Varco by 0.7% in the first quarter. Cleararc Capital Inc. now owns 9,243 shares of the oil and gas exploration company’s stock worth $371,000 after buying an additional 65 shares during the period. First Manhattan Co. raised its stake in shares of National Oilwell Varco by 0.3% in the first quarter. First Manhattan Co. now owns 32,934 shares of the oil and gas exploration company’s stock valued at $1,210,000 after buying an additional 98 shares during the last quarter. Sandy Spring Bank raised its stake in shares of National Oilwell Varco by 0.4% in the first quarter. Sandy Spring Bank now owns 32,934 shares of the oil and gas exploration company’s stock valued at $1,320,000 after buying an additional 115 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of National Oilwell Varco by 0.3% in the first quarter. ProShare Advisors LLC now owns 63,670 shares of the oil and gas exploration company’s stock valued at $2,553,000 after buying an additional 197 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

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

National Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates 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 for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.30) EPS. Equities analysts predict that National Oilwell Varco, Inc. will post ($0.40) EPS for the current fiscal year.

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NOV has been the topic of several recent research reports. BMO Capital Markets reissued a “sell” rating and set a $30.00 price objective on shares of National Oilwell Varco in a report on Thursday, June 22nd. BidaskClub downgraded National Oilwell Varco from a “sell” rating to a “strong sell” rating in a research report on Saturday. Credit Suisse Group set a $35.00 price objective on National Oilwell Varco and gave the company a “hold” rating in a research report on Saturday, July 29th. Barclays PLC reiterated a “hold” rating and issued a $38.00 price objective on shares of National Oilwell Varco in a research report on Wednesday, August 2nd. Finally, SunTrust Banks, Inc. downgraded National Oilwell Varco from a “hold” rating to a “sell” rating and lifted their price objective for the company from $29.00 to $50.00 in a research report on Monday, August 7th. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. National Oilwell Varco has a consensus rating of “Hold” and a consensus 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.

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

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