Independent Order of Foresters cut its position in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 14.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,671 shares of the oil and gas exploration company’s stock after selling 1,500 shares during the period. Independent Order of Foresters’ holdings in National Oilwell Varco were worth $286,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wesbanco Bank Inc. increased its position in shares of National Oilwell Varco by 22.8% in the first quarter. Wesbanco Bank Inc. now owns 8,259 shares of the oil and gas exploration company’s stock worth $331,000 after buying an additional 1,534 shares in the last quarter. Amalgamated Bank increased its position in shares of National Oilwell Varco by 6.1% in the first quarter. Amalgamated Bank now owns 26,521 shares of the oil and gas exploration company’s stock worth $1,063,000 after buying an additional 1,525 shares in the last quarter. Reilly Financial Advisors LLC increased its position in shares of National Oilwell Varco by 3.0% in the first quarter. Reilly Financial Advisors LLC now owns 229,165 shares of the oil and gas exploration company’s stock worth $9,187,000 after buying an additional 6,678 shares in the last quarter. World Asset Management Inc increased its position in shares of National Oilwell Varco by 9.7% in the first quarter. World Asset Management Inc now owns 43,074 shares of the oil and gas exploration company’s stock worth $1,727,000 after buying an additional 3,816 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of National Oilwell Varco during the first quarter worth approximately $295,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Shares of National Oilwell Varco, Inc. (NYSE:NOV) opened at 31.29 on Wednesday. The company has a 50-day moving average price of $32.97 and a 200 day moving average price of $36.03. The firm’s market capitalization is $11.89 billion. National Oilwell Varco, Inc. has a 52-week low of $31.03 and a 52-week high of $43.63.

National Oilwell Varco (NYSE:NOV) last posted its earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.14). National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the company posted ($0.30) earnings per share. National Oilwell Varco’s quarterly revenue was up 2.0% compared to the same quarter last year. Analysts expect 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 commented on NOV shares. Credit Suisse Group set a $35.00 price target on National Oilwell Varco and gave the company a “hold” rating in a report on Saturday, July 29th. Zacks Investment Research downgraded National Oilwell Varco from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Scotiabank set a $37.00 price target on National Oilwell Varco and gave the company a “hold” rating in a report on Friday, July 28th. Morgan Stanley reissued an “overweight” rating and issued a $50.00 price target (down previously from $60.00) on shares of National Oilwell Varco in a report on Wednesday, June 21st. Finally, Wells Fargo & Company reissued a “market perform” rating on shares of National Oilwell Varco in a report on Monday, July 10th. Four investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. National Oilwell Varco currently 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.

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

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