Contrarius Investment Management Ltd Sells 8,996 Shares of National-Oilwell Varco, Inc. (NYSE:NOV)

Contrarius Investment Management Ltd decreased its stake in shares of National-Oilwell Varco, Inc. (NYSE:NOV) by 0.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 989,054 shares of the oil and gas exploration company’s stock after selling 8,996 shares during the period. National-Oilwell Varco accounts for about 1.3% of Contrarius Investment Management Ltd’s portfolio, making the stock its 22nd largest holding. Contrarius Investment Management Ltd owned 0.26% of National-Oilwell Varco worth $24,776,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Lindbrook Capital LLC bought a new stake in National-Oilwell Varco in the 3rd quarter valued at about $25,000. Usca Ria LLC bought a new stake in National-Oilwell Varco in the 3rd quarter valued at about $25,000. FinTrust Capital Advisors LLC boosted its holdings in National-Oilwell Varco by 156.2% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 1,227 shares of the oil and gas exploration company’s stock valued at $26,000 after purchasing an additional 748 shares during the period. Cornerstone Advisors Inc. boosted its holdings in National-Oilwell Varco by 285.0% in the 3rd quarter. Cornerstone Advisors Inc. now owns 1,390 shares of the oil and gas exploration company’s stock valued at $29,000 after purchasing an additional 1,029 shares during the period. Finally, Evoke Wealth LLC bought a new stake in National-Oilwell Varco in the 3rd quarter valued at about $32,000. 95.44% of the stock is owned by institutional investors and hedge funds.

A number of analysts have issued reports on NOV shares. Citigroup boosted their price objective on shares of National-Oilwell Varco from $27.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Evercore ISI started coverage on shares of National-Oilwell Varco in a report on Friday, February 7th. They issued a “buy” rating and a $28.00 price objective for the company. Wells Fargo & Co boosted their price objective on shares of National-Oilwell Varco from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday. Susquehanna Bancshares boosted their price objective on shares of National-Oilwell Varco from $28.00 to $30.00 and gave the company a “positive” rating in a report on Monday. Finally, Cowen boosted their price objective on shares of National-Oilwell Varco from $25.00 to $27.00 and gave the company a “market perform” rating in a report on Monday. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company. National-Oilwell Varco has a consensus rating of “Hold” and an average target price of $26.75.

Shares of NYSE:NOV opened at $23.34 on Friday. The firm has a 50 day moving average of $23.36 and a 200-day moving average of $22.21. The stock has a market capitalization of $8.83 billion, a PE ratio of -1.46, a PEG ratio of 1.28 and a beta of 1.32. The company has a current ratio of 2.72, a quick ratio of 1.74 and a debt-to-equity ratio of 0.25. National-Oilwell Varco, Inc. has a 12 month low of $18.05 and a 12 month high of $29.98.

National-Oilwell Varco (NYSE:NOV) last issued its earnings results on Thursday, February 6th. The oil and gas exploration company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.16 by $0.84. The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.10 billion. National-Oilwell Varco had a negative net margin of 71.88% and a negative return on equity of 2.86%. On average, research analysts predict that National-Oilwell Varco, Inc. will post 0.75 EPS for the current fiscal year.

About National-Oilwell Varco

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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