New York State Teachers Retirement System Acquires 5,622 Shares of National-Oilwell Varco, Inc. (NOV)

New York State Teachers Retirement System raised its holdings in shares of National-Oilwell Varco, Inc. (NYSE:NOV) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 606,835 shares of the oil and gas exploration company’s stock after acquiring an additional 5,622 shares during the period. New York State Teachers Retirement System owned about 0.16% of National-Oilwell Varco worth $26,337,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. State of Alaska Department of Revenue boosted its stake in shares of National-Oilwell Varco by 16.9% during the second quarter. State of Alaska Department of Revenue now owns 77,868 shares of the oil and gas exploration company’s stock valued at $3,378,000 after purchasing an additional 11,230 shares during the period. Amalgamated Bank boosted its stake in shares of National-Oilwell Varco by 3.9% during the second quarter. Amalgamated Bank now owns 49,159 shares of the oil and gas exploration company’s stock valued at $2,134,000 after purchasing an additional 1,858 shares during the period. Pegasus Partners Ltd. purchased a new stake in shares of National-Oilwell Varco during the first quarter valued at approximately $4,393,000. Westpac Banking Corp boosted its stake in shares of National-Oilwell Varco by 14.9% during the first quarter. Westpac Banking Corp now owns 124,245 shares of the oil and gas exploration company’s stock valued at $4,573,000 after purchasing an additional 16,077 shares during the period. Finally, QV Investors Inc. boosted its stake in shares of National-Oilwell Varco by 16.6% during the second quarter. QV Investors Inc. now owns 976,627 shares of the oil and gas exploration company’s stock valued at $42,385,000 after purchasing an additional 139,240 shares during the period. Institutional investors and hedge funds own 94.66% of the company’s stock.

In related news, VP Scott K. Duff sold 40,459 shares of National-Oilwell Varco stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $41.02, for a total value of $1,659,628.18. Following the completion of the sale, the vice president now directly owns 72,697 shares in the company, valued at approximately $2,982,030.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Clay C. Williams sold 465,116 shares of National-Oilwell Varco stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $47.91, for a total value of $22,283,707.56. Following the completion of the sale, the chairman now owns 811,642 shares of the company’s stock, valued at $38,885,768.22. The disclosure for this sale can be found here. Insiders sold a total of 615,720 shares of company stock valued at $28,810,004 over the last quarter. 0.79% of the stock is owned by corporate insiders.

A number of research firms have recently weighed in on NOV. Barclays increased their price objective on National-Oilwell Varco from $37.00 to $44.00 and gave the company a “hold” rating in a research note on Monday, July 30th. Piper Jaffray Companies reissued a “buy” rating and set a $53.00 price objective on shares of National-Oilwell Varco in a research note on Monday. B. Riley reissued a “neutral” rating and set a $42.00 price objective (up previously from $40.00) on shares of National-Oilwell Varco in a research note on Tuesday, April 17th. SunTrust Banks set a $31.00 price objective on National-Oilwell Varco and gave the company a “hold” rating in a research note on Monday, April 16th. Finally, Susquehanna Bancshares set a $37.00 price objective on National-Oilwell Varco and gave the company a “hold” rating in a research note on Friday, April 13th. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the company. National-Oilwell Varco currently has an average rating of “Hold” and a consensus target price of $41.13.

Shares of National-Oilwell Varco opened at $46.50 on Tuesday, Marketbeat.com reports. National-Oilwell Varco, Inc. has a 1-year low of $29.90 and a 1-year high of $49.08. The company has a quick ratio of 1.75, a current ratio of 3.19 and a debt-to-equity ratio of 0.19. The firm has a market cap of $17.99 billion, a PE ratio of -110.71, a P/E/G ratio of 47.64 and a beta of 0.87.

National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Thursday, July 26th. The oil and gas exploration company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. National-Oilwell Varco had a negative return on equity of 0.60% and a negative net margin of 1.09%. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period last year, the company earned ($0.14) EPS. National-Oilwell Varco’s revenue for the quarter was up 19.7% on a year-over-year basis. sell-side analysts predict that National-Oilwell Varco, Inc. will post 0.16 EPS for the current fiscal year.

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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