Academy Capital Management Inctx Lowers stake in National-Oilwell Varco (NOV)

National-Oilwell Varco (NOV) : Academy Capital Management Inctx reduced its stake in National-Oilwell Varco by 4.0% during the most recent quarter end. The investment management company now holds a total of 566,021 shares of National-Oilwell Varco which is valued at $18,254,177 after selling 23,609 shares in National-Oilwell Varco , the firm said in a disclosure report filed with the SEC on Jul 21, 2016.National-Oilwell Varco makes up approximately 4.70% of Academy Capital Management Inctx’s portfolio.

Other Hedge Funds, Including , Jolley Asset Management boosted its stake in NOV in the latest quarter, The investment management firm added 1,150 additional shares and now holds a total of 6,370 shares of National-Oilwell Varco which is valued at $205,433. National-Oilwell Varco makes up approx 0.16% of Jolley Asset Management’s portfolio.Regentatlantic Capital reduced its stake in NOV by selling 12,529 shares or 55.54% in the most recent quarter. The Hedge Fund company now holds 10,030 shares of NOV which is valued at $330,489. National-Oilwell Varco makes up approx 0.03% of Regentatlantic Capital’s portfolio. Cribstone Capital Management added NOV to its portfolio by purchasing 517 company shares during the most recent quarter which is valued at $17,035. National-Oilwell Varco makes up approx 0.01% of Cribstone Capital Management’s portfolio.

National-Oilwell Varco opened for trading at $31 and hit $33.1 on the upside on Thursday, eventually ending the session at $32.04, with a gain of 2.46% or 0.77 points. The heightened volatility saw the trading volume jump to 73,66,920 shares. Company has a market cap of $12,081 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. 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 was Downgraded by Societe Generale to ” Sell” on May 4, 2016.

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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