National Oilwell Varco, Inc. (NOV) Position Raised by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI boosted its stake in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 33.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,723 shares of the oil and gas exploration company’s stock after buying an additional 20,425 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in National Oilwell Varco were worth $3,060,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the stock. Hanlon Investment Management Inc. purchased a new stake in shares of National Oilwell Varco during the second quarter valued at approximately $5,040,000. Becker Capital Management Inc. increased its stake in shares of National Oilwell Varco by 81.3% in the second quarter. Becker Capital Management Inc. now owns 598,162 shares of the oil and gas exploration company’s stock valued at $20,128,000 after buying an additional 268,267 shares during the last quarter. Pinnacle Financial Partners Inc. increased its stake in shares of National Oilwell Varco by 9.3% in the second quarter. Pinnacle Financial Partners Inc. now owns 33,031 shares of the oil and gas exploration company’s stock valued at $1,113,000 after buying an additional 2,822 shares during the last quarter. Nuance Investments LLC purchased a new stake in shares of National Oilwell Varco during the second quarter valued at approximately $1,531,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of National Oilwell Varco by 50.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 485,237 shares of the oil and gas exploration company’s stock valued at $16,328,000 after buying an additional 162,148 shares during the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

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

Shares of National Oilwell Varco, Inc. (NYSE:NOV) traded up 1.10% on Friday, hitting $39.42. 3,120,540 shares of the stock were exchanged. National Oilwell Varco, Inc. has a 52-week low of $26.86 and a 52-week high of $43.63. The stock’s market cap is $14.82 billion. The company’s 50 day moving average is $38.38 and its 200-day moving average is $35.94.

National Oilwell Varco (NYSE:NOV) last announced its earnings results on Monday, February 6th. The oil and gas exploration company reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.14. The company earned $1.69 billion during the quarter, compared to analyst estimates of $1.62 billion. National Oilwell Varco had a negative net margin of 33.26% and a negative return on equity of 2.08%. National Oilwell Varco’s revenue was down 37.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 earnings per share. Analysts predict that National Oilwell Varco, Inc. will post ($0.39) EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “National Oilwell Varco, Inc. (NOV) Position Raised by Commerzbank Aktiengesellschaft FI” was originally reported by sleekmoney and is the sole property of of sleekmoney. If you are reading this piece on another site, it was copied illegally and republished in violation of international copyright and trademark laws. The original version of this piece can be accessed at http://sleekmoney.com/national-oilwell-varco-inc-nov-position-raised-by-commerzbank-aktiengesellschaft-fi/1656757.html.

Several brokerages have recently commented on NOV. Johnson Rice downgraded shares of National Oilwell Varco from a “buy” rating to a “hold” rating in a research report on Friday, December 9th. Credit Suisse Group raised shares of National Oilwell Varco from an “underperform” rating to a “neutral” rating and set a $40.00 target price for the company in a research note on Wednesday. Jefferies Group LLC reaffirmed a “hold” rating and set a $36.00 target price on shares of National Oilwell Varco in a research note on Wednesday. Simmons raised their target price on shares of National Oilwell Varco from $25.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Scotiabank reaffirmed a “hold” rating and set a $37.00 target price on shares of National Oilwell Varco in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have assigned a buy rating to the stock. National Oilwell Varco has a consensus rating of “Hold” and an average price target of $36.69.

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

Want to see what other hedge funds are holding NOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Oilwell Varco, Inc. (NYSE:NOV).

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/national-oilwell-varco-inc-nov-position-raised-by-commerzbank-aktiengesellschaft-fi/1656757.html

Receive News & Ratings for National Oilwell Varco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Oilwell Varco Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *