Sandy Spring Bank cut its stake in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 25.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,303 shares of the oil and gas exploration company’s stock after selling 7,595 shares during the quarter. Sandy Spring Bank’s holdings in National Oilwell Varco were worth $797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. IHT Wealth Management LLC boosted its holdings in National Oilwell Varco by 1,923.1% during the 2nd quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock valued at $112,000 after acquiring an additional 500 shares during the period. Exane Derivatives boosted its holdings in National Oilwell Varco by 113.8% during the 2nd quarter. Exane Derivatives now owns 3,985 shares of the oil and gas exploration company’s stock valued at $131,000 after acquiring an additional 2,121 shares during the period. Chicago Partners Investment Group LLC purchased a new stake in National Oilwell Varco during the 2nd quarter valued at about $194,000. Lakeview Capital Partners LLC boosted its holdings in National Oilwell Varco by 2.6% during the 2nd quarter. Lakeview Capital Partners LLC now owns 6,194 shares of the oil and gas exploration company’s stock valued at $204,000 after acquiring an additional 155 shares during the period. Finally, Smith Salley & Associates purchased a new stake in National Oilwell Varco during the 3rd quarter valued at about $214,000. Institutional investors own 90.30% of the company’s stock.

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National Oilwell Varco, Inc. (NYSE NOV) traded down $0.43 during mid-day trading on Friday, reaching $34.12. The company had a trading volume of 213,807 shares, compared to its average volume of 3,312,236. National Oilwell Varco, Inc. has a one year low of $29.90 and a one year high of $43.63. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.75 and a quick ratio of 1.62.

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

Several equities research analysts recently weighed in on NOV shares. Scotiabank set a $37.00 target price on National Oilwell Varco and gave the company a “hold” rating in a report on Friday, October 27th. FBR & Co restated a “buy” rating and set a $42.00 target price on shares of National Oilwell Varco in a report on Thursday, August 31st. Royal Bank Of Canada restated a “hold” rating on shares of National Oilwell Varco in a report on Friday, September 1st. UBS AG restated a “neutral” rating and set a $37.00 target price (down from $38.00) on shares of National Oilwell Varco in a report on Monday, July 31st. Finally, Loop Capital upgraded National Oilwell Varco from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Thursday, August 17th. Six investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. National Oilwell Varco currently has an average rating of “Hold” and a consensus price target 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.

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

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