Reinhart Partners Inc. Buys 363,058 Shares of National-Oilwell Varco, Inc. (NYSE:NOV)

Reinhart Partners Inc. raised its stake in shares of National-Oilwell Varco, Inc. (NYSE:NOV) by 71.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 871,353 shares of the oil and gas exploration company’s stock after purchasing an additional 363,058 shares during the period. National-Oilwell Varco accounts for about 1.7% of Reinhart Partners Inc.’s investment portfolio, making the stock its 28th biggest holding. Reinhart Partners Inc. owned approximately 0.23% of National-Oilwell Varco worth $18,473,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in NOV. TRUE Private Wealth Advisors purchased a new position in shares of National-Oilwell Varco in the second quarter valued at about $26,000. Usca Ria LLC purchased a new stake in shares of National-Oilwell Varco in the third quarter worth about $25,000. Lindbrook Capital LLC purchased a new stake in shares of National-Oilwell Varco in the third quarter worth about $25,000. FinTrust Capital Advisors LLC lifted its position in shares of National-Oilwell Varco by 156.2% in the third quarter. FinTrust Capital Advisors LLC now owns 1,227 shares of the oil and gas exploration company’s stock worth $26,000 after buying an additional 748 shares in the last quarter. Finally, Berman Capital Advisors LLC lifted its position in shares of National-Oilwell Varco by 385.0% in the second quarter. Berman Capital Advisors LLC now owns 1,387 shares of the oil and gas exploration company’s stock worth $30,000 after buying an additional 1,101 shares in the last quarter. 94.63% of the stock is owned by institutional investors and hedge funds.

In other news, insider Joseph W. Rovig sold 22,640 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.37, for a total transaction of $415,896.80. Following the transaction, the insider now owns 73,867 shares of the company’s stock, valued at $1,356,936.79. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Scott K. Duff sold 6,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $23.51, for a total value of $141,060.00. Following the completion of the transaction, the vice president now directly owns 42,721 shares in the company, valued at approximately $1,004,370.71. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company’s stock.

A number of equities research analysts recently commented on the company. Raymond James boosted their target price on National-Oilwell Varco from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Johnson Rice raised National-Oilwell Varco from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. Wells Fargo & Co boosted their price objective on National-Oilwell Varco from $22.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, September 12th. Susquehanna Bancshares raised National-Oilwell Varco from a “neutral” rating to a “positive” rating and set a $25.00 price objective on the stock in a research note on Monday, August 12th. Finally, Morgan Stanley reduced their price objective on National-Oilwell Varco from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 8th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. National-Oilwell Varco presently has a consensus rating of “Hold” and an average target price of $27.58.

Shares of NOV traded up $0.05 during mid-day 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. The stock has a market cap of $9.32 billion, a P/E ratio of -292.25, a P/E/G ratio of 10.13 and a beta of 1.32. The stock’s 50-day moving average is $21.68 and its two-hundred day moving average is $21.97. National-Oilwell Varco, Inc. has a 12 month low of $18.05 and a 12 month high of $35.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.86 and a quick ratio of 1.75.

National-Oilwell Varco (NYSE:NOV) last released its earnings results on Monday, October 28th. The oil and gas exploration company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.76). The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.17 billion. National-Oilwell Varco had a negative net margin of 66.29% and a negative return on equity of 2.82%. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. Research analysts predict that National-Oilwell Varco, Inc. will post 0.16 earnings per share for the current year.

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.

Read More: Intrinsic Value and Stock Selection

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

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