National-Oilwell Varco (NOV) : Mountain Lake Investment Management scooped up 25,000 additional shares in National-Oilwell Varco during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 225,000 shares of National-Oilwell Varco which is valued at $7,607,250.National-Oilwell Varco makes up approximately 4.43% of Mountain Lake Investment Management’s portfolio.
Other Hedge Funds, Including , Usca Ria sold out all of its stake in NOV during the most recent quarter. The investment firm sold 15,462 shares of NOV which is valued $522,770. Omers Administration Corp added NOV to its portfolio by purchasing 25,700 company shares during the most recent quarter which is valued at $868,917. National-Oilwell Varco makes up approx 0.02% of Omers Administration Corp’s portfolio.Parsons Capital Management Incri reduced its stake in NOV by selling 5,608 shares or 39.66% in the most recent quarter. The Hedge Fund company now holds 8,533 shares of NOV which is valued at $288,501. National-Oilwell Varco makes up approx 0.04% of Parsons Capital Management Incri’s portfolio.
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.