Shell Asset Management Co. lowered its stake in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 4.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 24,362 shares of the oil and gas exploration company’s stock after selling 1,180 shares during the period. Shell Asset Management Co.’s holdings in National Oilwell Varco were worth $802,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in NOV. FNY Partners Fund LP bought a new stake in National Oilwell Varco during the first quarter valued at about $120,000. Quadrant Capital Group LLC boosted 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 valued at $122,000 after buying an additional 205 shares during the last quarter. Exane Derivatives boosted 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 valued at $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 valued at about $200,000. Finally, Murphy Pohlad Asset Management LLC bought a new stake in National Oilwell Varco during the first quarter valued at about $203,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Shares of National Oilwell Varco, Inc. (NYSE:NOV) opened at 30.35 on Friday. The stock’s 50 day moving average is $32.74 and its 200-day moving average is $35.83. The stock’s market capitalization is $11.53 billion. National Oilwell Varco, Inc. has a 52 week low of $30.29 and a 52 week 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) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.14). The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations 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 company’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.30) EPS. On average, analysts anticipate that National Oilwell Varco, Inc. will post ($0.40) earnings per share for the current fiscal year.

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Several equities research analysts have recently issued reports on the stock. ValuEngine upgraded shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Wells Fargo & Company reiterated a “market perform” rating on shares of National Oilwell Varco in a research report on Monday, July 10th. Jefferies Group LLC reiterated a “hold” rating and set a $34.00 price objective (down previously from $38.00) on shares of National Oilwell Varco in a research report on Monday, July 31st. Cowen and Company reiterated a “hold” rating and set a $37.00 price objective on shares of National Oilwell Varco in a research report on Tuesday, July 11th. Finally, Zacks Investment Research raised shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Four equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. National Oilwell Varco has an average rating of “Hold” and an average target price 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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