Russell Investments Group Ltd. increased its position in National Oilwell Varco, Inc. (NYSE:NOV) by 28.0% during the second quarter, Holdings Channel reports. The fund owned 294,690 shares of the oil and gas exploration company’s stock after buying an additional 64,419 shares during the period. Russell Investments Group Ltd.’s holdings in National Oilwell Varco were worth $9,710,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in NOV. FNY Partners Fund LP bought a new stake in National Oilwell Varco during the first quarter worth $120,000. Exane Derivatives boosted its stake in National Oilwell Varco by 113.8% in the second quarter. Exane Derivatives now owns 3,985 shares of the oil and gas exploration company’s stock worth $131,000 after buying an additional 2,121 shares during the last quarter. WMS Partners LLC bought a new stake in National Oilwell Varco during the first quarter worth $200,000. Tiedemann Wealth Management LLC bought a new stake in National Oilwell Varco during the first quarter worth $203,000. Finally, Murphy Pohlad Asset Management LLC bought a new stake in National Oilwell Varco during the first quarter worth $203,000. 91.63% of the stock is currently owned by institutional investors.

National Oilwell Varco, Inc. (NOV) traded down 0.92% on Wednesday, hitting $30.11. The stock had a trading volume of 1,441,334 shares. The stock has a 50-day moving average of $32.62 and a 200-day moving average of $35.59. National Oilwell Varco, Inc. has a one year low of $30.10 and a one year high of $43.63. The company’s market cap is $11.44 billion.

National Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.14). National Oilwell Varco had a negative return on equity of 2.12% and a negative net margin of 33.24%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the company posted ($0.30) EPS. National Oilwell Varco’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts expect that National Oilwell Varco, Inc. will post ($0.40) earnings per share for the current fiscal year.

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A number of analysts have weighed in on the stock. R. F. Lafferty reissued a “hold” rating and set a $33.00 price objective (down previously from $38.00) on shares of National Oilwell Varco in a report on Tuesday, August 1st. Piper Jaffray Companies reissued a “buy” rating and set a $36.00 price objective on shares of National Oilwell Varco in a report on Thursday, August 3rd. Seaport Global Securities reissued a “sell” rating on shares of National Oilwell Varco in a report on Friday, July 28th. BidaskClub cut shares of National Oilwell Varco from a “sell” rating to a “strong sell” rating in a report on Saturday. Finally, Zacks Investment Research raised shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Four analysts have rated the stock with a sell rating, nineteen have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. National Oilwell Varco has an average rating of “Hold” and a consensus price target 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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