National-Oilwell Varco (NOV) : Tower Square Investment Management added new position in National-Oilwell Varco during the most recent quarter end. The investment management firm now holds 45,198 shares of National-Oilwell Varco which is valued at $1.4 Million , the company said in a statement filed on May 12, 2016 with the SEC.National-Oilwell Varco makes up approximately 0.73% of Tower Square Investment Management’s portfolio.
Other Hedge Funds, Including , Edmond De Rothschild Holding S.a. sold out all of its stake in NOV during the most recent quarter. The investment firm sold 260 shares of NOV which is valued $8,102. Jefferies Group added NOV to its portfolio by purchasing 46,770 company shares during the most recent quarter which is valued at $1.5 Million. National-Oilwell Varco makes up approx 0.05% of Jefferies Group’s portfolio.Schwab Charles Investment Management Inc boosted its stake in NOV in the latest quarter, The investment management firm added 37,758 additional shares and now holds a total of 1,229,996 shares of National-Oilwell Varco which is valued at $41.2 Million. National-Oilwell Varco makes up approx 0.05% of Schwab Charles Investment Management Inc’s portfolio.Ohio National Investments boosted its stake in NOV in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 8,400 shares of National-Oilwell Varco which is valued at $302,736. National-Oilwell Varco makes up approx 0.06% of Ohio National Investments’s portfolio.
National-Oilwell Varco opened for trading at $31.12 and hit $31.985 on the upside on Friday, eventually ending the session at $31.83, with a gain of 2.38% or 0.74 points. The heightened volatility saw the trading volume jump to 41,06,984 shares. Company has a market cap of $12,002 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.