Sumitomo Mitsui Trust Holdings Inc. Buys 20,152 Shares of National-Oilwell Varco, Inc. (NYSE:NOV)

Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of National-Oilwell Varco, Inc. (NYSE:NOV) by 1.4% in the second quarter, HoldingsChannel reports. The firm owned 1,447,776 shares of the oil and gas exploration company’s stock after purchasing an additional 20,152 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in National-Oilwell Varco were worth $32,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale boosted its position in National-Oilwell Varco by 17.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 41,610 shares of the oil and gas exploration company’s stock worth $2,029,000 after purchasing an additional 6,265 shares during the period. Penserra Capital Management LLC boosted its position in shares of National-Oilwell Varco by 292.1% in the first quarter. Penserra Capital Management LLC now owns 5,301 shares of the oil and gas exploration company’s stock valued at $140,000 after acquiring an additional 3,949 shares during the period. Reliance Trust Co. of Delaware boosted its position in shares of National-Oilwell Varco by 76.7% in the first quarter. Reliance Trust Co. of Delaware now owns 23,391 shares of the oil and gas exploration company’s stock valued at $624,000 after acquiring an additional 10,153 shares during the period. Buckhead Capital Management LLC boosted its position in shares of National-Oilwell Varco by 13.1% in the first quarter. Buckhead Capital Management LLC now owns 46,240 shares of the oil and gas exploration company’s stock valued at $1,232,000 after acquiring an additional 5,360 shares during the period. Finally, Edmond DE Rothschild Holding S.A. boosted its position in shares of National-Oilwell Varco by 1.5% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,024,180 shares of the oil and gas exploration company’s stock valued at $27,284,000 after acquiring an additional 15,150 shares during the period. 95.64% of the stock is owned by hedge funds and other institutional investors.

NOV stock opened at $20.38 on Wednesday. The firm has a market capitalization of $7.75 billion, a P/E ratio of -254.75 and a beta of 1.30. The company has a 50-day moving average of $21.56. National-Oilwell Varco, Inc. has a 52 week low of $19.57 and a 52 week high of $47.46. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.76 and a current ratio of 3.05.

National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Monday, July 29th. The oil and gas exploration company reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.03. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.08 billion. National-Oilwell Varco had a negative return on equity of 0.64% and a negative net margin of 63.23%. As a group, analysts anticipate that National-Oilwell Varco, Inc. will post -0.04 EPS for the current fiscal year.

A number of equities research analysts have recently issued reports on NOV shares. Bank of America reissued an “underperform” rating and issued a $20.00 target price (down previously from $26.00) on shares of National-Oilwell Varco in a research report on Tuesday, June 25th. UBS Group set a $25.00 target price on shares of National-Oilwell Varco and gave the company a “hold” rating in a research report on Wednesday, July 31st. Zacks Investment Research cut shares of National-Oilwell Varco from a “hold” rating to a “strong sell” rating in a research report on Monday, May 20th. Raymond James boosted their target price on shares of National-Oilwell Varco from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, SunTrust Banks reduced their target price on shares of National-Oilwell Varco to $24.00 and set a “hold” rating for the company in a research report on Tuesday, April 16th. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $34.24.

In other National-Oilwell Varco news, Director Eric L. Mattson sold 4,750 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $21.02, for a total transaction of $99,845.00. Following the completion of the transaction, the director now owns 64,503 shares of the company’s stock, valued at $1,355,853.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.92% of the stock is currently owned by insiders.

National-Oilwell Varco Profile

National Oilwell Varco, Inc designs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. It operates in three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. The Wellbore Technologies segment offers various equipment and technologies used to perform drilling operations.

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

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