State of Tennessee Treasury Department cut its holdings in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 35.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 164,096 shares of the oil and gas exploration company’s stock after selling 89,489 shares during the period. State of Tennessee Treasury Department’s holdings in National Oilwell Varco were worth $5,863,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NOV. IHT Wealth Management LLC lifted its stake in National Oilwell Varco by 1,923.1% during the second quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock worth $112,000 after purchasing an additional 500 shares during the last quarter. Exane Derivatives lifted its stake in National Oilwell Varco by 113.8% during the second quarter. Exane Derivatives now owns 3,985 shares of the oil and gas exploration company’s stock worth $131,000 after purchasing an additional 2,121 shares during the last quarter. Chicago Partners Investment Group LLC bought a new stake in National Oilwell Varco during the second quarter worth $194,000. Lakeview Capital Partners LLC lifted its stake in National Oilwell Varco by 2.6% during the second quarter. Lakeview Capital Partners LLC now owns 6,194 shares of the oil and gas exploration company’s stock worth $204,000 after purchasing an additional 155 shares during the last quarter. Finally, IndexIQ Advisors LLC bought a new stake in National Oilwell Varco during the second quarter worth $217,000. Hedge funds and other institutional investors own 90.16% of the company’s stock.

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Shares of National Oilwell Varco, Inc. (NOV) opened at $33.06 on Tuesday. The company has a quick ratio of 1.62, a current ratio of 2.75 and a debt-to-equity ratio of 0.19. National Oilwell Varco, Inc. has a 1 year low of $29.90 and a 1 year high of $43.63.

National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.01. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.86 billion. National Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.34) earnings per share. equities research analysts forecast that National Oilwell Varco, Inc. will post -0.41 earnings per share for the current year.

Several research analysts have recently issued reports on the stock. ValuEngine downgraded shares of National Oilwell Varco from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. B. Riley reiterated a “buy” rating on shares of National Oilwell Varco in a report on Wednesday, November 1st. Seaport Global Securities reiterated a “sell” rating on shares of National Oilwell Varco in a report on Friday, July 28th. UBS AG reiterated a “neutral” rating and set a $37.00 price target (down from $38.00) on shares of National Oilwell Varco in a report on Monday, July 31st. Finally, Cowen and Company lowered their price target on shares of National Oilwell Varco from $37.00 to $30.00 and set a “market perform” rating for the company in a report on Wednesday, August 2nd. Six research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. National Oilwell Varco has a consensus rating of “Hold” and an average target price of $37.83.

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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