Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in National-Oilwell Varco, Inc. (NYSE:NOV) by 8.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,471 shares of the oil and gas exploration company’s stock after selling 6,309 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in National-Oilwell Varco were worth $712,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOV. Point72 Hong Kong Ltd acquired a new stake in National-Oilwell Varco in the fourth quarter valued at approximately $30,000. Acadian Asset Management LLC acquired a new stake in National-Oilwell Varco in the fourth quarter valued at approximately $35,000. Pearl River Capital LLC acquired a new stake in National-Oilwell Varco in the first quarter valued at approximately $44,000. Firestone Capital Management acquired a new stake in National-Oilwell Varco in the fourth quarter valued at approximately $45,000. Finally, Archer Investment Corp acquired a new stake in National-Oilwell Varco in the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

NOV has been the subject of a number of analyst reports. Susquehanna Bancshares lifted their target price on shares of National-Oilwell Varco from $28.00 to $30.00 and gave the company a “positive” rating in a research note on Monday, February 10th. Cowen upgraded shares of National-Oilwell Varco from a “market perform” rating to an “outperform” rating and set a $17.00 price objective for the company in a research note on Tuesday, April 14th. Sanford C. Bernstein upgraded shares of National-Oilwell Varco from a “market perform” rating to an “outperform” rating in a research note on Monday, April 6th. Citigroup cut shares of National-Oilwell Varco from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a research note on Monday, March 9th. Finally, Wells Fargo & Co boosted their price objective on shares of National-Oilwell Varco from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the stock. National-Oilwell Varco presently has an average rating of “Buy” and an average target price of $19.35.

Shares of NOV stock opened at $12.09 on Friday. National-Oilwell Varco, Inc. has a 1 year low of $8.00 and a 1 year high of $25.81. The firm’s fifty day simple moving average is $11.77 and its 200 day simple moving average is $18.59. The firm has a market capitalization of $4.71 billion, a P/E ratio of -0.57 and a beta of 1.82. The company has a current ratio of 2.73, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36.

In other National-Oilwell Varco news, CFO Jose A. Bayardo purchased 11,500 shares of the stock in a transaction on Monday, March 16th. The shares were purchased at an average price of $8.85 per share, with a total value of $101,775.00. Following the acquisition, the chief financial officer now directly owns 245,748 shares of the company’s stock, valued at approximately $2,174,869.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jose A. Bayardo purchased 20,000 shares of the stock in a transaction on Wednesday, March 18th. The stock was acquired at an average cost of $8.47 per share, for a total transaction of $169,400.00. Following the acquisition, the chief financial officer now directly owns 245,748 shares in the company, valued at $2,081,485.56. The disclosure for this purchase can be found here. Insiders own 0.92% of the company’s stock.

National-Oilwell Varco Profile

National Oilwell Varco, Inc designs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. It operates in three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. The Wellbore Technologies segment offers various equipment and technologies used to perform drilling operations.

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

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