OLD National Bancorp IN Acquires Shares of 8,470 National-Oilwell Varco, Inc. (NOV)

OLD National Bancorp IN acquired a new position in shares of National-Oilwell Varco, Inc. (NYSE:NOV) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 8,470 shares of the oil and gas exploration company’s stock, valued at approximately $226,000.

Other institutional investors have also modified their holdings of the company. Truvestments Capital LLC acquired a new stake in National-Oilwell Varco during the 1st quarter worth $26,000. JOYN Advisors Inc. raised its stake in National-Oilwell Varco by 166.2% during the 4th quarter. JOYN Advisors Inc. now owns 1,046 shares of the oil and gas exploration company’s stock worth $27,000 after buying an additional 653 shares during the period. Enlightenment Research LLC acquired a new stake in National-Oilwell Varco during the 4th quarter worth $28,000. Moody National Bank Trust Division raised its stake in National-Oilwell Varco by 125.0% during the 1st quarter. Moody National Bank Trust Division now owns 1,233 shares of the oil and gas exploration company’s stock worth $33,000 after buying an additional 685 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in National-Oilwell Varco by 2,438.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,065,034 shares of the oil and gas exploration company’s stock worth $41,000 after buying an additional 1,023,079 shares during the period. 93.54% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages recently commented on NOV. SunTrust Banks dropped their price objective on National-Oilwell Varco to $24.00 and set a “hold” rating on the stock in a research note on Tuesday, April 16th. Citigroup increased their target price on National-Oilwell Varco from $29.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, April 30th. Raymond James lowered their target price on National-Oilwell Varco from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Monday, April 15th. Barclays set a $32.00 target price on National-Oilwell Varco and gave the stock a “hold” rating in a report on Saturday, February 9th. Finally, Gabelli reiterated a “buy” rating on shares of National-Oilwell Varco in a report on Monday, February 11th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have assigned a buy rating to the company. National-Oilwell Varco has an average rating of “Hold” and a consensus target price of $38.08.

Shares of NYSE NOV opened at $23.95 on Friday. The stock has a market capitalization of $9.55 billion, a PE ratio of -299.38 and a beta of 1.20. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.30 and a quick ratio of 1.81. National-Oilwell Varco, Inc. has a fifty-two week low of $23.42 and a fifty-two week high of $49.08.

National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas exploration company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.12). The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.99 billion. National-Oilwell Varco had a negative net margin of 0.47% and a negative return on equity of 0.29%. National-Oilwell Varco’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.18) EPS. As a group, sell-side analysts forecast that National-Oilwell Varco, Inc. will post -0.16 EPS for the current fiscal year.

In other news, VP Scott K. Duff sold 15,125 shares of the firm’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $28.02, for a total value of $423,802.50. Following the completion of the transaction, the vice president now owns 54,098 shares in the company, valued at approximately $1,515,825.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.92% of the stock is owned by company insiders.

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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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