Gabalex Capital Management Exits Position in National-Oilwell Varco (NOV)

National-Oilwell Varco (NOV) : Gabalex Capital Management has sold out all of its stake in National-Oilwell Varco during the most recent quarter, according to the disclosure filed by the company on Aug 1, 2016 with the SEC. The investment management company has sold out 250,000 shares of National-Oilwell Varco which is valued at $8,165,000.

Other Hedge Funds, Including , Private Harbour Investment Management Counsel reduced its stake in NOV by selling 925 shares or 6.71% in the most recent quarter. The Hedge Fund company now holds 12,865 shares of NOV which is valued at $420,171. National-Oilwell Varco makes up approx 0.34% of Private Harbour Investment Management Counsel’s portfolio.Old Mutual Global Investors (uk) Ltd. reduced its stake in NOV by selling 1,051,177 shares or 92.54% in the most recent quarter. The Hedge Fund company now holds 84,733 shares of NOV which is valued at $2,732,639. National-Oilwell Varco makes up approx 0.05% of Old Mutual Global Investors (uk) Ltd.’s portfolio. Kessler Investment Group sold out all of its stake in NOV during the most recent quarter. The investment firm sold 2,000 shares of NOV which is valued $65,900. Davis R M Inc sold out all of its stake in NOV during the most recent quarter. The investment firm sold 6,874 shares of NOV which is valued $228,767.

National-Oilwell Varco closed down -0.1 points or -0.31% at $32.56 with 21,22,434 shares getting traded on Thursday. Post opening the session at $32.51, the shares hit an intraday low of $32.34 and an intraday high of $32.915 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, National-Oilwell Varco reported $-0.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.33. The company had revenue of $1724.00 million for the quarter, compared to analysts expectations of $1795.21 million. The company’s revenue was down -55.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.77 EPS.

Many Wall Street Analysts have commented on National-Oilwell Varco. National-Oilwell Varco was Upgraded by Johnson Rice to ” Accumulate” on Jul 29, 2016. Company shares were Reiterated by Scotia Howard Weil on Jun 15, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 37 from a previous price target of $32 .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 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.

Leave a Reply

National-Oilwell Varco - Is it time to Sell?

Top Brokerage Firms are advising their investors on National-Oilwell Varco. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.