Conning Inc. reduced its position in National Oilwell Varco, Inc. (NYSE:NOV) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,076 shares of the oil and gas exploration company’s stock after selling 103 shares during the period. Conning Inc.’s holdings in National Oilwell Varco were worth $859,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of NOV. FNY Partners Fund LP purchased a new stake in National Oilwell Varco during the first quarter worth $120,000. Exane Derivatives raised 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 period. Chicago Partners Investment Group LLC purchased a new stake in National Oilwell Varco during the second quarter worth $194,000. WMS Partners LLC purchased a new stake in National Oilwell Varco during the first quarter worth $200,000. Finally, Murphy Pohlad Asset Management LLC purchased 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.

Shares of National Oilwell Varco, Inc. (NYSE NOV) opened at 30.39 on Wednesday. The firm’s market capitalization is $11.55 billion. The stock’s 50 day moving average is $32.62 and its 200 day moving average is $35.59. National Oilwell Varco, Inc. has a 1-year low of $30.14 and a 1-year high of $43.63.

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

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A number of analysts recently weighed in on NOV shares. Piper Jaffray Companies set a $37.00 price objective on shares of National Oilwell Varco and gave the stock a “buy” rating in a research report on Thursday, July 27th. Jefferies Group LLC set a $38.00 price objective on shares of National Oilwell Varco and gave the stock a “hold” rating in a research report on Wednesday, May 31st. ValuEngine raised shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Cowen and Company reissued a “hold” rating and issued a $37.00 price objective on shares of National Oilwell Varco in a research report on Tuesday, July 11th. Finally, Scotiabank set a $37.00 price objective on shares of National Oilwell Varco and gave the stock a “hold” rating in a research report on Friday, July 28th. Four analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. National Oilwell Varco currently has a consensus 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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