LBA Wealth Management LLC increased its position in National Oilwell Varco, Inc. (NYSE:NOV) by 8.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,856 shares of the oil and gas exploration company’s stock after buying an additional 1,350 shares during the period. LBA Wealth Management LLC’s holdings in National Oilwell Varco were worth $631,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Pinnacle Associates Ltd. boosted its position in National Oilwell Varco by 3.3% in the fourth quarter. Pinnacle Associates Ltd. now owns 104,400 shares of the oil and gas exploration company’s stock valued at $3,909,000 after buying an additional 3,325 shares during the last quarter. RBO & Co. LLC purchased a new position in shares of National Oilwell Varco during the fourth quarter valued at $3,590,000. Glenview Trust Co purchased a new position in shares of National Oilwell Varco during the fourth quarter valued at $8,790,000. Nicholas Investment Partners LP purchased a new position in shares of National Oilwell Varco during the fourth quarter valued at $2,559,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of National Oilwell Varco by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,569,541 shares of the oil and gas exploration company’s stock valued at $133,657,000 after buying an additional 11,076 shares in the last quarter. Hedge funds and other institutional investors own 94.98% of the company’s stock.

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

National Oilwell Varco, Inc. (NYSE:NOV) traded down 2.78% during midday trading on Friday, hitting $39.12. The stock had a trading volume of 1,327,633 shares. The stock’s market cap is $14.71 billion. The company has a 50-day moving average of $38.59 and a 200-day moving average of $36.18. National Oilwell Varco, Inc. has a 1-year low of $26.86 and a 1-year high of $43.63.

National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings results on Monday, February 6th. The oil and gas exploration company reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.14. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.62 billion. National Oilwell Varco had a negative return on equity of 2.08% and a negative net margin of 33.26%. The firm’s quarterly revenue was down 37.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 earnings per share. Equities research analysts forecast that National Oilwell Varco, Inc. will post ($0.36) EPS for the current year.

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Several equities research analysts have recently commented on the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $36.00 target price on shares of National Oilwell Varco in a report on Wednesday, February 8th. Vetr downgraded National Oilwell Varco from a “buy” rating to a “hold” rating and set a $41.60 price objective for the company. in a research note on Tuesday. Credit Suisse Group raised National Oilwell Varco from an “underperform” rating to a “neutral” rating and set a $40.00 price objective for the company in a research note on Wednesday, February 8th. Scotiabank reissued a “hold” rating and issued a $37.00 price objective on shares of National Oilwell Varco in a research note on Wednesday, February 8th. Finally, Loop Capital began coverage on National Oilwell Varco in a research note on Tuesday, February 7th. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $36.82.

National Oilwell Varco Company Profile

National Oilwell Varco, Inc (NOV) is engaged in providing design, manufacture and sale of equipment and components used in oil and gas drilling, completion and production operations. The Company operates through four segments: Rig Systems, which makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore; Rig Aftermarket, which provides aftermarket products and services to support land and offshore rigs, and drilling rig components manufactured by the Company’s Rig Systems segment; Wellbore Technologies, which sells and rents solids control equipment, and provides solids control, waste management and drilling fluids services, and Completion & Production Solutions, which provides technologies for well completions and oil and gas production.

5 Day Chart for NYSE:NOV

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