Reinhart Partners Inc. increased its position in National-Oilwell Varco, Inc. (NYSE:NOV) by 71.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 871,353 shares of the oil and gas exploration company’s stock after acquiring an additional 363,058 shares during the period. National-Oilwell Varco makes up about 1.7% of Reinhart Partners Inc.’s portfolio, making the stock its 28th biggest holding. Reinhart Partners Inc.’s holdings in National-Oilwell Varco were worth $18,473,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Lindbrook Capital LLC purchased a new position in National-Oilwell Varco in the 3rd quarter worth $25,000. Usca Ria LLC purchased a new position in National-Oilwell Varco in the 3rd quarter worth $25,000. TRUE Private Wealth Advisors acquired a new stake in National-Oilwell Varco during the 2nd quarter worth about $26,000. FinTrust Capital Advisors LLC grew its position in National-Oilwell Varco by 156.2% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 1,227 shares of the oil and gas exploration company’s stock worth $26,000 after purchasing an additional 748 shares during the period. Finally, Cornerstone Advisors Inc. grew its position in National-Oilwell Varco by 285.0% during the 3rd quarter. Cornerstone Advisors Inc. now owns 1,390 shares of the oil and gas exploration company’s stock worth $29,000 after purchasing an additional 1,029 shares during the period. Institutional investors own 94.63% of the company’s stock.
In other news, VP Scott K. Duff sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $23.51, for a total transaction of $141,060.00. Following the sale, the vice president now directly owns 42,721 shares in the company, valued at approximately $1,004,370.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph W. Rovig sold 22,640 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $18.37, for a total value of $415,896.80. Following the sale, the insider now owns 73,867 shares in the company, valued at $1,356,936.79. The disclosure for this sale can be found here. 0.92% of the stock is owned by company insiders.
Shares of NYSE:NOV traded up $0.05 during trading on Friday, reaching $23.38. 2,593,934 shares of the company’s stock traded hands, compared to its average volume of 4,227,313. National-Oilwell Varco, Inc. has a fifty-two week low of $18.05 and a fifty-two week high of $35.62. The company has a quick ratio of 1.75, a current ratio of 2.86 and a debt-to-equity ratio of 0.31. The firm has a market cap of $9.32 billion, a PE ratio of -292.25, a P/E/G ratio of 10.13 and a beta of 1.32. The company has a 50-day simple moving average of $21.68 and a 200-day simple moving average of $21.97.
National-Oilwell Varco (NYSE:NOV) last posted its earnings results on Monday, October 28th. The oil and gas exploration company reported ($0.64) EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.76). National-Oilwell Varco had a negative net margin of 66.29% and a negative return on equity of 2.82%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.17 billion. The business’s revenue was down 1.3% on a year-over-year basis. On average, equities research analysts forecast that National-Oilwell Varco, Inc. will post 0.16 EPS for the current year.
NOV has been the topic of several analyst reports. Susquehanna Bancshares raised National-Oilwell Varco from a “neutral” rating to a “positive” rating and set a $25.00 price target on the stock in a research report on Monday, August 12th. ValuEngine raised National-Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. UBS Group set a $25.00 price target on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Jefferies Financial Group raised National-Oilwell Varco from a “hold” rating to a “buy” rating and increased their price target for the stock from $23.00 to $25.00 in a research report on Thursday, September 5th. Finally, Cowen increased their price target on National-Oilwell Varco from $24.00 to $26.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. National-Oilwell Varco has an average rating of “Hold” and a consensus price target of $27.58.
National-Oilwell Varco Company 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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