Arizona State Retirement System Has $8.75 Million Stake in National-Oilwell Varco, Inc. (NOV)

Arizona State Retirement System grew its stake in shares of National-Oilwell Varco, Inc. (NYSE:NOV) by 1.3% in the 3rd quarter, Holdings Channel reports. The firm owned 203,208 shares of the oil and gas exploration company’s stock after acquiring an additional 2,546 shares during the quarter. Arizona State Retirement System’s holdings in National-Oilwell Varco were worth $8,754,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quad Cities Investment Group LLC purchased a new stake in shares of National-Oilwell Varco during the second quarter valued at $104,000. Cerebellum GP LLC purchased a new stake in shares of National-Oilwell Varco during the third quarter valued at $163,000. First Hawaiian Bank purchased a new stake in shares of National-Oilwell Varco during the third quarter valued at $174,000. Piedmont Investment Advisors LLC purchased a new stake in shares of National-Oilwell Varco during the second quarter valued at $194,000. Finally, Assetmark Inc. lifted its stake in National-Oilwell Varco by 225.5% in the 2nd quarter. Assetmark Inc. now owns 4,551 shares of the oil and gas exploration company’s stock worth $198,000 after acquiring an additional 3,153 shares in the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

Shares of NOV stock opened at $36.11 on Friday. The company has a current ratio of 3.17, a quick ratio of 1.78 and a debt-to-equity ratio of 0.19. National-Oilwell Varco, Inc. has a fifty-two week low of $31.47 and a fifty-two week high of $49.08. The stock has a market capitalization of $13.84 billion, a price-to-earnings ratio of -85.98 and a beta of 1.03.

In other National-Oilwell Varco news, Director Eric L. Mattson sold 5,284 shares of the company’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $45.06, for a total value of $238,097.04. Following the transaction, the director now directly owns 66,862 shares of the company’s stock, valued at approximately $3,012,801.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Eric L. Mattson sold 11,112 shares of the company’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $45.34, for a total value of $503,818.08. Following the completion of the transaction, the director now directly owns 66,862 shares in the company, valued at $3,031,523.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,734 shares of company stock worth $939,945. Insiders own 0.79% of the company’s stock.

NOV has been the subject of several research analyst reports. Citigroup increased their price objective on National-Oilwell Varco from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 11th. BMO Capital Markets increased their price objective on National-Oilwell Varco from $32.00 to $39.00 and gave the stock a “sell” rating in a research note on Monday, July 30th. Wells Fargo & Co increased their price objective on National-Oilwell Varco from $41.00 to $43.00 and gave the stock a “hold” rating in a research note on Sunday, July 29th. Credit Suisse Group set a $43.00 price objective on National-Oilwell Varco and gave the stock a “hold” rating in a research note on Monday, July 30th. Finally, Raymond James increased their price objective on National-Oilwell Varco from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, July 30th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company. National-Oilwell Varco has an average rating of “Hold” and a consensus price target of $43.32.

About National-Oilwell Varco

National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

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

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