Palisade Capital Management LLC NJ lowered its stake in National Oilwell Varco, Inc. (NYSE:NOV) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,874 shares of the oil and gas exploration company’s stock after selling 708 shares during the period. Palisade Capital Management LLC NJ’s holdings in National Oilwell Varco were worth $1,742,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Moody Lynn & Lieberson LLC raised its stake in National Oilwell Varco by 0.4% in the first quarter. Moody Lynn & Lieberson LLC now owns 6,684 shares of the oil and gas exploration company’s stock valued at $268,000 after buying an additional 29 shares during the last quarter. Cleararc Capital Inc. raised its stake in National Oilwell Varco by 0.7% in the first quarter. Cleararc Capital Inc. now owns 9,243 shares of the oil and gas exploration company’s stock valued at $371,000 after buying an additional 65 shares during the last quarter. First Manhattan Co. raised its stake in National Oilwell Varco by 0.3% in the first quarter. First Manhattan Co. now owns 32,934 shares of the oil and gas exploration company’s stock valued at $1,210,000 after buying an additional 98 shares during the last quarter. CIBC Asset Management Inc raised its stake in National Oilwell Varco by 0.3% in the second quarter. CIBC Asset Management Inc now owns 36,365 shares of the oil and gas exploration company’s stock valued at $1,198,000 after buying an additional 113 shares during the last quarter. Finally, Sandy Spring Bank raised its stake in National Oilwell Varco by 0.4% in the first quarter. Sandy Spring Bank now owns 32,934 shares of the oil and gas exploration company’s stock valued at $1,320,000 after buying an additional 115 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Shares of National Oilwell Varco, Inc. (NOV) opened at 31.29 on Wednesday. The firm’s market cap is $11.89 billion. The company’s 50-day moving average price is $32.97 and its 200-day moving average price is $36.03. National Oilwell Varco, Inc. has a 12 month low of $31.03 and a 12 month high of $43.63.

National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14). The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.78 billion. National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. National Oilwell Varco’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.30) EPS. On average, analysts predict that National Oilwell Varco, Inc. will post ($0.40) EPS for the current year.

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Several analysts recently issued reports on the company. Piper Jaffray Companies upgraded National Oilwell Varco from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $36.00 to $37.00 in a report on Tuesday, June 20th. Seaport Global Securities reiterated a “sell” rating on shares of National Oilwell Varco in a report on Friday, July 28th. Zacks Investment Research upgraded National Oilwell Varco from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. R. F. Lafferty reiterated a “hold” rating and set a $33.00 target price (down previously from $38.00) on shares of National Oilwell Varco in a report on Tuesday, August 1st. Finally, BidaskClub upgraded National Oilwell Varco from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $38.59.

National Oilwell Varco Company Profile

National Oilwell Varco, Inc is an oilfield equipment manufacturer and technology provider. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies and Completion & Production Solutions. The Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore.

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

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