Public Employees Retirement Association of Colorado lowered its stake in National Oilwell Varco, Inc. (NYSE:NOV) by 0.0% during the second quarter, Holdings Channel reports. The institutional investor owned 71,294 shares of the oil and gas exploration company’s stock after selling 16 shares during the period. Public Employees Retirement Association of Colorado’s holdings in National Oilwell Varco were worth $2,348,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. boosted 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 in the last quarter. FMR LLC boosted 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 in the last quarter. Bank of Montreal Can boosted its stake in National Oilwell Varco by 146.8% in the first quarter. Bank of Montreal Can now owns 3,274,041 shares of the oil and gas exploration company’s stock valued at $131,257,000 after buying an additional 1,947,233 shares in the last quarter. Schroder Investment Management Group boosted 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 in the last quarter. Finally, Morgan Stanley boosted 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 in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

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

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

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Several analysts recently commented on NOV shares. Zacks Investment Research cut shares of National Oilwell Varco from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. BMO Capital Markets reaffirmed a “sell” rating and set a $30.00 price objective on shares of National Oilwell Varco in a research report on Thursday, June 22nd. ValuEngine raised shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 price objective (down previously from $60.00) on shares of National Oilwell Varco in a research report on Wednesday, June 21st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $36.00 price objective on shares of National Oilwell Varco in a research report on Tuesday, April 11th. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average 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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