South Dakota Investment Council acquired a new stake in shares of National-Oilwell Varco, Inc. (NYSE:NOV) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,504 shares of the oil and gas exploration company’s stock, valued at approximately $280,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc raised its holdings in shares of National-Oilwell Varco by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 40,535,826 shares of the oil and gas exploration company’s stock valued at $1,746,283,000 after buying an additional 506,418 shares in the last quarter. BlackRock Inc. raised its holdings in shares of National-Oilwell Varco by 4.3% during the 4th quarter. BlackRock Inc. now owns 26,005,356 shares of the oil and gas exploration company’s stock valued at $668,337,000 after buying an additional 1,072,861 shares in the last quarter. Harris Associates L P raised its holdings in shares of National-Oilwell Varco by 1.8% during the 4th quarter. Harris Associates L P now owns 22,820,259 shares of the oil and gas exploration company’s stock valued at $586,481,000 after buying an additional 412,852 shares in the last quarter. Pzena Investment Management LLC raised its holdings in shares of National-Oilwell Varco by 37.9% during the 4th quarter. Pzena Investment Management LLC now owns 12,651,572 shares of the oil and gas exploration company’s stock valued at $325,145,000 after buying an additional 3,475,751 shares in the last quarter. Finally, Parnassus Investments CA raised its holdings in shares of National-Oilwell Varco by 0.7% during the 1st quarter. Parnassus Investments CA now owns 11,107,784 shares of the oil and gas exploration company’s stock valued at $295,911,000 after buying an additional 73,441 shares in the last quarter. 93.54% of the stock is currently owned by institutional investors.

NOV opened at $24.38 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.81 and a current ratio of 3.30. National-Oilwell Varco, Inc. has a 52-week low of $23.42 and a 52-week high of $49.08. The company has a market cap of $9.16 billion, a PE ratio of -304.75 and a beta of 1.20.

National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings results 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). National-Oilwell Varco had a negative net margin of 0.47% and a negative return on equity of 0.29%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities analysts anticipate that National-Oilwell Varco, Inc. will post -0.16 EPS for the current year.

In related news, VP Scott K. Duff sold 15,125 shares of National-Oilwell Varco stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $28.02, for a total transaction of $423,802.50. Following the sale, the vice president now directly owns 54,098 shares in the company, valued at $1,515,825.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.92% of the company’s stock.

A number of equities analysts have commented on NOV shares. Cowen set a $23.00 price target on National-Oilwell Varco and gave the stock a “hold” rating in a research note on Friday, April 12th. Raymond James decreased their price target on National-Oilwell Varco from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, April 15th. Goldman Sachs Group started coverage on National-Oilwell Varco in a research note on Sunday, March 10th. They issued a “neutral” rating and a $33.00 price target on the stock. Royal Bank of Canada set a $31.00 price target on National-Oilwell Varco and gave the stock a “hold” rating in a research note on Friday, February 8th. Finally, Barclays set a $32.00 price target on National-Oilwell Varco and gave the stock a “hold” rating in a research note on Saturday, February 9th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $38.08.

ILLEGAL ACTIVITY WARNING: This article was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another domain, it was stolen and reposted in violation of US and international copyright & trademark law. The legal version of this article can be read at https://www.thecerbatgem.com/2019/05/16/south-dakota-investment-council-acquires-shares-of-10504-national-oilwell-varco-inc-nov.html.

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.

Featured Story: Lock-Up Period Expiration

Want to see what other hedge funds are holding NOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National-Oilwell Varco, Inc. (NYSE:NOV).

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

Receive News & Ratings for National-Oilwell Varco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National-Oilwell Varco and related companies with MarketBeat.com's FREE daily email newsletter.