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

National-Oilwell Varco (NOV) : Leonard 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 15, 2016 with the SEC. The investment management company has sold out 38,000 shares of National-Oilwell Varco which is valued at $1,284,780.

Other Hedge Funds, Including , Mitsubishi Ufj Securities Holdings Ltd. sold out all of its stake in NOV during the most recent quarter. The investment firm sold 2,830 shares of NOV which is valued $95,682.Ubs Asset Management Americas Inc boosted its stake in NOV in the latest quarter, The investment management firm added 25,398 additional shares and now holds a total of 1,388,797 shares of National-Oilwell Varco which is valued at $46,760,795. National-Oilwell Varco makes up approx 0.05% of Ubs Asset Management Americas Inc’s portfolio.Advisory Services Network boosted its stake in NOV in the latest quarter, The investment management firm added 5,242 additional shares and now holds a total of 7,319 shares of National-Oilwell Varco which is valued at $228,865. National-Oilwell Varco makes up approx 0.05% of Advisory Services Network’s portfolio. Park Circle Co sold out all of its stake in NOV during the most recent quarter. The investment firm sold 500 shares of NOV which is valued $16,125.

National-Oilwell Varco closed down -0.5 points or -1.49% at $33.04 with 29,28,137 shares getting traded on Thursday. Post opening the session at $33.4, the shares hit an intraday low of $32.7 and an intraday high of $33.49 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.

Investors should note that on Aug 18, 2016, National-Oilwell Varco announced a cash dividend of $0.0500. The company’s management has announced Sep 14, 2016 as the ex-dividend date and fixed the record date on Sep 16, 2016. The payable date has been fixed on Sep 30, 2016.

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 .

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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