Lord Abbett & CO. LLC Has $6.65 Million Holdings in National Oilwell Varco, Inc. (NOV)

Lord Abbett & CO. LLC raised its stake in National Oilwell Varco, Inc. (NYSE:NOV) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,000 shares of the oil and gas exploration company’s stock after purchasing an additional 3,500 shares during the period. Lord Abbett & CO. LLC owned about 0.05% of National Oilwell Varco worth $6,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of NOV. Harris Associates L P increased its holdings in shares of National Oilwell Varco by 16.0% in the 2nd quarter. Harris Associates L P now owns 18,574,753 shares of the oil and gas exploration company’s stock valued at $611,852,000 after acquiring an additional 2,557,484 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of National Oilwell Varco by 459.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,639,603 shares of the oil and gas exploration company’s stock valued at $86,948,000 after acquiring an additional 2,167,397 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of National Oilwell Varco by 33.6% in the 2nd quarter. American Century Companies Inc. now owns 5,924,558 shares of the oil and gas exploration company’s stock valued at $195,155,000 after acquiring an additional 1,491,359 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of National Oilwell Varco by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 38,794,232 shares of the oil and gas exploration company’s stock valued at $1,277,882,000 after acquiring an additional 930,849 shares during the last quarter. Finally, Great Lakes Advisors LLC increased its holdings in shares of National Oilwell Varco by 136.2% in the 2nd quarter. Great Lakes Advisors LLC now owns 1,503,441 shares of the oil and gas exploration company’s stock valued at $49,523,000 after acquiring an additional 866,962 shares during the last quarter. 90.18% of the stock is currently owned by institutional investors.

A number of research analysts have recently commented on the company. R. F. Lafferty reiterated a “hold” rating and issued a $33.00 price objective (down previously from $38.00) on shares of National Oilwell Varco in a report on Tuesday, August 1st. Zacks Investment Research downgraded National Oilwell Varco from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Royal Bank Of Canada set a $35.00 price objective on National Oilwell Varco and gave the company a “hold” rating in a report on Friday. Capital One Financial Corporation reiterated an “equal weight” rating on shares of National Oilwell Varco in a report on Friday. Finally, Seaport Global Securities reiterated a “sell” rating on shares of National Oilwell Varco in a report on Friday, July 28th. Five investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $38.52.

COPYRIGHT VIOLATION NOTICE: “Lord Abbett & CO. LLC Has $6.65 Million Holdings in National Oilwell Varco, Inc. (NOV)” was first reported by Community Financial News and is owned by of Community Financial News. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.com-unik.info/2017/10/30/lord-abbett-co-llc-has-6-65-million-holdings-in-national-oilwell-varco-inc-nov.html.

Shares of National Oilwell Varco, Inc. (NYSE:NOV) opened at 33.23 on Monday. The firm’s market capitalization is $12.63 billion. National Oilwell Varco, Inc. has a 12-month low of $29.90 and a 12-month high of $43.63. The stock has a 50 day moving average price of $34.65 and a 200 day moving average price of $33.49.

National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. National Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the company posted ($0.34) EPS. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. Analysts predict that National Oilwell Varco, Inc. will post ($0.41) EPS for the current fiscal year.

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)

What are top analysts saying about National Oilwell Varco Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for National Oilwell Varco Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit