Daiwa Securities Group Inc. decreased its position in National Oilwell Varco, Inc. (NYSE:NOV) by 1.5% during the second quarter, Holdings Channel reports. The fund owned 59,533 shares of the oil and gas exploration company’s stock after selling 900 shares during the period. Daiwa Securities Group Inc.’s holdings in National Oilwell Varco were worth $1,961,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. FNY Partners Fund LP bought a new stake in National Oilwell Varco during the first quarter worth $120,000. Quadrant Capital Group LLC increased its stake in National Oilwell Varco by 6.8% in the first quarter. Quadrant Capital Group LLC now owns 3,214 shares of the oil and gas exploration company’s stock worth $122,000 after buying an additional 205 shares during the last quarter. Exane Derivatives increased its stake in National Oilwell Varco by 113.8% in the second quarter. Exane Derivatives now owns 3,985 shares of the oil and gas exploration company’s stock worth $131,000 after buying an additional 2,121 shares during the last quarter. WMS Partners LLC bought a new stake in National Oilwell Varco during the first quarter worth $200,000. Finally, Tiedemann Wealth Management LLC bought a new stake in National Oilwell Varco during the first quarter worth $203,000. 91.00% of the stock is owned by institutional investors and hedge funds.

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

National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas exploration company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14). The company had revenue of $1.76 billion for the quarter, compared to analyst estimates 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 business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. On average, 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 firms have recently weighed in on NOV. R. F. Lafferty reissued a “hold” rating and set a $33.00 price target (down previously from $38.00) on shares of National Oilwell Varco in a research report on Tuesday, August 1st. Barclays PLC reissued a “hold” rating and set a $38.00 price target on shares of National Oilwell Varco in a research report on Wednesday, August 2nd. Seaport Global Securities reissued a “sell” rating on shares of National Oilwell Varco in a research report on Friday, July 28th. Zacks Investment Research raised shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $36.00 price target on shares of National Oilwell Varco in a research report on Thursday, August 3rd. Four equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently 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.

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

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