Rhumbline Advisers raised its position in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 1.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 699,995 shares of the oil and gas exploration company’s stock after buying an additional 12,533 shares during the period. Rhumbline Advisers’ holdings in National Oilwell Varco were worth $23,058,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NOV. Oliver Luxxe Assets LLC acquired a new position in National Oilwell Varco during the first quarter worth approximately $1,103,000. Wealth Enhancement Advisory Services LLC acquired a new position in National Oilwell Varco during the first quarter worth approximately $864,000. Reilly Financial Advisors LLC boosted its position in National Oilwell Varco by 3.0% in the first quarter. Reilly Financial Advisors LLC now owns 229,165 shares of the oil and gas exploration company’s stock worth $9,187,000 after buying an additional 6,678 shares in the last quarter. Reliance Trust Co. of Delaware boosted its position in National Oilwell Varco by 33.2% in the first quarter. Reliance Trust Co. of Delaware now owns 30,328 shares of the oil and gas exploration company’s stock worth $1,216,000 after buying an additional 7,562 shares in the last quarter. Finally, Telemus Capital LLC boosted its position in National Oilwell Varco by 18.4% in the first quarter. Telemus Capital LLC now owns 22,975 shares of the oil and gas exploration company’s stock worth $921,000 after buying an additional 3,575 shares in the last quarter. Hedge funds and other institutional investors own 91.63% of the company’s stock.

Shares of National Oilwell Varco, Inc. (NYSE NOV) opened at 30.39 on Wednesday. The firm’s market cap is $11.55 billion. National Oilwell Varco, Inc. has a 52 week low of $30.14 and a 52 week high of $43.63. The stock’s 50 day moving average is $32.62 and its 200 day moving average is $35.59.

National Oilwell Varco (NYSE:NOV) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.14). National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the firm earned ($0.30) EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities research analysts predict that National Oilwell Varco, Inc. will post ($0.40) earnings per share for the current fiscal year.

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A number of research analysts have commented on the company. Zacks Investment Research cut National Oilwell Varco from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Jefferies Group LLC set a $38.00 price target on National Oilwell Varco and gave the stock a “hold” rating in a research note on Thursday, April 27th. ValuEngine cut National Oilwell Varco from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Piper Jaffray Companies upgraded National Oilwell Varco from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $36.00 to $37.00 in a research note on Tuesday, June 20th. Finally, Morgan Stanley restated an “overweight” rating and set a $50.00 price target (down from $60.00) on shares of National Oilwell Varco in a research note on Wednesday, June 21st. Four analysts have rated the stock with a sell rating, nineteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $38.59.

About National Oilwell Varco

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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