Wedbush Securities Inc. boosted its position in National Oilwell Varco, Inc. (NYSE:NOV) by 8.3% during the second quarter, Holdings Channel reports. The firm owned 15,753 shares of the oil and gas exploration company’s stock after buying an additional 1,202 shares during the period. Wedbush Securities Inc.’s holdings in National Oilwell Varco were worth $519,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Oliver Luxxe Assets LLC purchased a new stake in National Oilwell Varco during the first quarter worth $1,103,000. Wealth Enhancement Advisory Services LLC purchased a new stake in National Oilwell Varco during the first quarter worth $864,000. Reilly Financial Advisors LLC raised its stake 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 during the period. Reliance Trust Co. of Delaware raised its stake 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 during the period. Finally, Telemus Capital LLC raised its stake 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 during the period. 91.63% of the stock is currently owned by institutional investors and hedge funds.

Shares of National Oilwell Varco, Inc. (NYSE NOV) opened at 30.39 on Wednesday. The stock’s market cap is $11.55 billion. National Oilwell Varco, Inc. has a 12 month low of $30.14 and a 12 month high of $43.63. The firm’s 50-day moving average is $32.62 and its 200 day moving average is $35.59.

National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data 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 net margin of 33.24% and a negative return on equity of 2.12%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the business posted ($0.30) earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year. On average, equities analysts predict that National Oilwell Varco, Inc. will post ($0.40) EPS for the current year.

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

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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