Retirement Systems of Alabama boosted its position in shares of National Oilwell Varco, Inc. (NYSE:NOV) by 0.7% during the second quarter, Holdings Channel reports. The firm owned 184,265 shares of the oil and gas exploration company’s stock after buying an additional 1,197 shares during the period. Retirement Systems of Alabama’s holdings in National Oilwell Varco were worth $6,070,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oliver Luxxe Assets LLC purchased a new position in shares of National Oilwell Varco during the first quarter worth approximately $1,103,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of National Oilwell Varco during the first quarter worth approximately $864,000. Reilly Financial Advisors LLC increased its position in shares of National Oilwell Varco by 3.0% in the first quarter. Reilly Financial Advisors LLC now owns 229,165 shares of the oil and gas exploration company’s stock worth $9,187,000 after buying an additional 6,678 shares during the period. Reliance Trust Co. of Delaware increased its position in shares of National Oilwell Varco by 33.2% in the first quarter. Reliance Trust Co. of Delaware now owns 30,328 shares of the oil and gas exploration company’s stock worth $1,216,000 after buying an additional 7,562 shares during the period. Finally, Telemus Capital LLC increased its position in shares of National Oilwell Varco by 18.4% in the first quarter. Telemus Capital LLC now owns 22,975 shares of the oil and gas exploration company’s stock worth $921,000 after buying an additional 3,575 shares during the period. 91.63% of the stock is owned by institutional investors.

National Oilwell Varco, Inc. (NOV) opened at 29.94 on Thursday. The stock has a 50 day moving average of $32.57 and a 200 day moving average of $35.55. National Oilwell Varco, Inc. has a 12 month low of $29.90 and a 12 month high of $43.63. The firm’s market capitalization is $11.38 billion.

National Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Thursday, July 27th. The oil and gas exploration company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the business earned ($0.30) earnings per share. National Oilwell Varco’s revenue was up 2.0% compared to the same quarter last year. On average, equities analysts predict that National Oilwell Varco, Inc. will post ($0.40) earnings per share for the current fiscal year.

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NOV has been the subject of a number of analyst reports. Jefferies Group LLC set a $38.00 price objective on shares of National Oilwell Varco and gave the company a “hold” rating in a research report on Thursday, April 27th. ValuEngine downgraded shares of National Oilwell Varco from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Piper Jaffray Companies raised shares of National Oilwell Varco from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $36.00 to $37.00 in a report on Tuesday, June 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 target price (down previously from $60.00) on shares of National Oilwell Varco in a report on Wednesday, June 21st. Finally, BMO Capital Markets reaffirmed a “sell” rating and set a $30.00 target price on shares of National Oilwell Varco in a report on Thursday, June 22nd. Five analysts have rated the stock with a sell rating, seventeen have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $39.05.

About National Oilwell Varco

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.

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

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