Hikari Power Ltd buys $17.4 Million stake in National-Oilwell Varco (NOV)

National-Oilwell Varco (NOV) : Hikari Power Ltd scooped up 403,600 additional shares in National-Oilwell Varco during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 559,000 shares of National-Oilwell Varco which is valued at $17.4 Million.National-Oilwell Varco makes up approximately 2.02% of Hikari Power Ltd’s portfolio.

Other Hedge Funds, Including , Shell Asset Management Co reduced its stake in NOV by selling 951 shares or 2.14% in the most recent quarter. The Hedge Fund company now holds 43,444 shares of NOV which is valued at $1.4 Million. National-Oilwell Varco makes up approx 0.03% of Shell Asset Management Co’s portfolio.Blackrock Advisors reduced its stake in NOV by selling 234,703 shares or 36.43% in the most recent quarter. The Hedge Fund company now holds 409,625 shares of NOV which is valued at $12.8 Million. National-Oilwell Varco makes up approx 0.01% of Blackrock Advisors’s portfolio.Bronfman E.l. Rothschild boosted its stake in NOV in the latest quarter, The investment management firm added 365 additional shares and now holds a total of 2,117 shares of National-Oilwell Varco which is valued at $70,835. National-Oilwell Varco makes up approx 0.01% of Bronfman E.l. Rothschild’s portfolio. Timber Hill added NOV to its portfolio by purchasing 23,231 company shares during the most recent quarter which is valued at $777,309. National-Oilwell Varco makes up approx 0.06% of Timber Hill’s portfolio.Stephens Inc Ar boosted its stake in NOV in the latest quarter, The investment management firm added 2,238 additional shares and now holds a total of 76,021 shares of National-Oilwell Varco which is valued at $2.5 Million. National-Oilwell Varco makes up approx 0.12% of Stephens Inc Ar’s portfolio.

National-Oilwell Varco opened for trading at $31.81 and hit $32.57 on the upside on Monday, eventually ending the session at $32.24, with a gain of 3.47% or 1.08 points. The heightened volatility saw the trading volume jump to 41,57,006 shares. Company has a market cap of $12,156 M.

On the company’s financial health, National-Oilwell Varco reported $-0.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $-0.10. The company had revenue of $2189.00 million for the quarter, compared to analysts expectations of $2186.31 million. The company’s revenue was down -54.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.14 EPS.

Many Wall Street Analysts have commented on National-Oilwell Varco. Shares were Reiterated by FBR Capital on May 5, 2016 to “Outperform” and Lowered the Price Target to $ 44 from a previous price target of $55 .National-Oilwell Varco was Downgraded by Societe Generale to ” Sell” on May 4, 2016. Company shares were Reiterated by Cowen on Apr 29, 2016 to “Market Perform”, Firm has raised the Price Target to $ 28 from a previous price target of $25 .

National Oilwell Varco Inc. (NOV) is engaged in providing design manufacture and sale of equipment and components used in oil and gas drilling completion and production operations. The Company also provides oilfield services to the upstream oil and gas industry. The Company operates through four segments: Rig Systems Rig Aftermarket Wellbore Technologies and Completion & Production Solutions. Its Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore. Its Rig Aftermarket segment provides aftermarket products and services to support land and offshore rigs and drilling rig components manufactured by the Company’s Rig Systems segment. Its Wellbore Technologies segment sells and rents solids control equipment; and provides solids control waste management and drilling fluids services. Its Completion & Production Solutions segment provides technologies for well completions and oil and gas production.

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