Pitcairn Co. Reduces Position in National Oilwell Varco, Inc. (NOV)

Pitcairn Co. decreased its position in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 33.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,998 shares of the oil and gas exploration company’s stock after selling 14,382 shares during the period. Pitcairn Co.’s holdings in National Oilwell Varco were worth $1,086,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TCI Wealth Advisors Inc. raised its stake in National Oilwell Varco by 1,441.6% in the third quarter. TCI Wealth Advisors Inc. now owns 2,744 shares of the oil and gas exploration company’s stock worth $101,000 after buying an additional 2,566 shares during the last quarter. New York Life Trust Co. raised its stake in National Oilwell Varco by 608.8% in the third quarter. New York Life Trust Co. now owns 2,906 shares of the oil and gas exploration company’s stock worth $107,000 after buying an additional 2,496 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new stake in National Oilwell Varco during the third quarter worth approximately $107,000. Global X Management Co. LLC raised its stake in National Oilwell Varco by 94.0% in the third quarter. Global X Management Co. LLC now owns 3,384 shares of the oil and gas exploration company’s stock worth $124,000 after buying an additional 1,640 shares during the last quarter. Finally, Salem Investment Counselors Inc. acquired a new stake in National Oilwell Varco during the third quarter worth approximately $147,000. 94.98% of the stock is owned by institutional investors.

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

National Oilwell Varco, Inc. (NYSE:NOV) traded up 0.03% on Tuesday, hitting $39.61. The stock had a trading volume of 231,176 shares. The firm’s 50 day moving average price is $38.42 and its 200-day moving average price is $36.06. National Oilwell Varco, Inc. has a 12 month low of $26.56 and a 12 month high of $43.63. The stock’s market cap is $14.89 billion.

National Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Monday, February 6th. The oil and gas exploration company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.14. National Oilwell Varco had a negative net margin of 33.26% and a negative return on equity of 2.08%. The firm earned $1.69 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the previous year, the company earned $0.23 earnings per share. National Oilwell Varco’s quarterly revenue was down 37.8% compared to the same quarter last year. On average, analysts forecast that National Oilwell Varco, Inc. will post ($0.39) EPS for the current year.

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A number of analysts have commented on NOV shares. Jefferies Group LLC reissued a “hold” rating and issued a $36.00 target price on shares of National Oilwell Varco in a report on Wednesday, February 8th. Credit Suisse Group raised National Oilwell Varco from an “underperform” rating to a “neutral” rating and set a $40.00 target price for the company in a report on Wednesday, February 8th. Vetr raised National Oilwell Varco from a “hold” rating to a “buy” rating and set a $42.13 target price for the company in a report on Monday, February 6th. Scotiabank reaffirmed a “hold” rating and issued a $37.00 price objective on shares of National Oilwell Varco in a report on Wednesday, February 8th. Finally, Loop Capital began coverage on National Oilwell Varco in a report on Tuesday, February 7th. They issued a “hold” rating for the company. Three research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have issued a buy rating to the company’s stock. National Oilwell Varco has an average rating of “Hold” and a consensus target price of $36.69.

About National Oilwell Varco

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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