ICON Advisers reduced its stake in shares of National-Oilwell Varco, Inc. (NYSE:NOV) by 17.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The hedge fund owned 172,300 shares of the oil and gas exploration company’s stock after selling 37,600 shares during the period. ICON Advisers’ holdings in National-Oilwell Varco were worth $6,487,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Palo Capital bought a new position in National-Oilwell Varco during the third quarter valued at $205,000. TrimTabs Asset Management bought a new position in National-Oilwell Varco during the third quarter valued at $2,035,000. Beacon Financial Group raised its position in National-Oilwell Varco by 26.8% in the fourth quarter. Beacon Financial Group now owns 11,649 shares of the oil and gas exploration company’s stock valued at $393,000 after buying an additional 2,459 shares in the last quarter. Finally, Kiltearn Partners raised its position in National-Oilwell Varco by 58.6% in the fourth quarter. Kiltearn Partners now owns 1,591,357 shares of the oil and gas exploration company’s stock valued at $53,295,000 after buying an additional 588,157 shares in the last quarter.

Shares of National-Oilwell Varco, Inc. (NYSE:NOV) traded up 1.83% during midday trading on Friday, hitting $31.23. 6,998,379 shares of the company were exchanged. The company has a 50-day moving average of $32.74 and a 200 day moving average of $38.05. The company has a market capitalization of $11.73 billion and a P/E ratio of 9.29. National-Oilwell Varco, Inc. has a one year low of $28.51 and a one year high of $57.85.

National-Oilwell Varco (NYSE:NOV) last issued its earnings results on Wednesday, October 28th. The oil and gas exploration company reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.05. During the same quarter in the previous year, the firm posted $1.61 earnings per share. The firm had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.51 billion. National-Oilwell Varco’s quarterly revenue was down 40.8% on a year-over-year basis. On average, equities research analysts expect that National-Oilwell Varco, Inc. will post $2.94 earnings per share for the current fiscal year.

Several research analysts have weighed in on NOV shares. Vetr lowered shares of National-Oilwell Varco from a “strong-buy” rating to a “buy” rating and set a $41.90 price objective on the stock. in a research note on Monday, September 28th. Robert W. Baird dropped their price objective on shares of National-Oilwell Varco from $48.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 14th. Societe Generale dropped their price objective on shares of National-Oilwell Varco from $47.00 to $40.00 and set a “hold” rating on the stock in a research note on Thursday, October 15th. Barclays dropped their price objective on shares of National-Oilwell Varco from $48.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, October 29th. Finally, BMO Capital Markets decreased their target price on shares of National-Oilwell Varco from $39.00 to $35.00 and set an “underperform” rating for the company in a research report on Thursday, October 29th. Six analysts have rated the stock with a sell rating, twenty have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $42.06.

In other National-Oilwell Varco news, Director David D. Harrison sold 16,352 shares of National-Oilwell Varco stock in a transaction on Monday, November 9th. The shares were sold at an average price of $38.79, for a total transaction of $634,294.08. Following the completion of the transaction, the director now directly owns 40,087 shares of the company’s stock, valued at $1,554,974.73. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

National Oilwell Varco, Inc. (NYSE: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.

12 Month Chart for NYSE:NOV

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