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

National-Oilwell Varco (NOV) : Leonard Capital Management Inc 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 May 11, 2016 with the SEC. The investment management company has sold out 38,000 shares of National-Oilwell Varco which is valued at $1.2 Million.

Other Hedge Funds, Including , Janney Montgomery Scott boosted its stake in NOV in the latest quarter, The investment management firm added 8,771 additional shares and now holds a total of 51,201 shares of National-Oilwell Varco which is valued at $1.6 Million. National-Oilwell Varco makes up approx 0.04% of Janney Montgomery Scott’s portfolio.Cibc Asset Management Inc reduced its stake in NOV by selling 432 shares or 1.09% in the most recent quarter. The Hedge Fund company now holds 39,313 shares of NOV which is valued at $1.2 Million. National-Oilwell Varco makes up approx 0.01% of Cibc Asset Management Inc’s portfolio.Rhumbline Advisers boosted its stake in NOV in the latest quarter, The investment management firm added 33,608 additional shares and now holds a total of 639,347 shares of National-Oilwell Varco which is valued at $21.4 Million. National-Oilwell Varco makes up approx 0.07% of Rhumbline Advisers’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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