Overbrook Management Corp Has $395,000 Stake in National Oilwell Varco, Inc. (NOV)

Overbrook Management Corp cut its stake in National Oilwell Varco, Inc. (NYSE:NOV) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,000 shares of the oil and gas exploration company’s stock after selling 125 shares during the quarter. Overbrook Management Corp’s holdings in National Oilwell Varco were worth $395,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Cleararc Capital Inc. raised its stake in shares of National Oilwell Varco by 0.7% in the first quarter. Cleararc Capital Inc. now owns 9,243 shares of the oil and gas exploration company’s stock worth $371,000 after purchasing an additional 65 shares during the last quarter. Fernwood Investment Management LLC raised its stake in shares of National Oilwell Varco by 0.6% in the second quarter. Fernwood Investment Management LLC now owns 15,765 shares of the oil and gas exploration company’s stock worth $519,000 after purchasing an additional 100 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of National Oilwell Varco by 0.3% in the second quarter. CIBC Asset Management Inc now owns 36,365 shares of the oil and gas exploration company’s stock worth $1,198,000 after purchasing an additional 113 shares during the last quarter. Sandy Spring Bank raised its stake in shares of National Oilwell Varco by 0.4% in the first quarter. Sandy Spring Bank now owns 32,934 shares of the oil and gas exploration company’s stock worth $1,320,000 after purchasing an additional 115 shares during the last quarter. Finally, Cadence Capital Management LLC raised its stake in shares of National Oilwell Varco by 1.0% in the second quarter. Cadence Capital Management LLC now owns 14,143 shares of the oil and gas exploration company’s stock worth $466,000 after purchasing an additional 143 shares during the last quarter. 90.32% of the stock is owned by hedge funds and other institutional investors.

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Several brokerages have recently commented on NOV. BidaskClub raised National Oilwell Varco from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. Piper Jaffray Companies set a $37.00 price objective on National Oilwell Varco and gave the stock a “buy” rating in a research note on Thursday, July 27th. Scotiabank set a $37.00 price objective on National Oilwell Varco and gave the stock a “hold” rating in a research note on Friday, July 28th. SunTrust Banks, Inc. downgraded National Oilwell Varco from a “hold” rating to a “sell” rating and increased their price objective for the stock from $29.00 to $50.00 in a research note on Monday, August 7th. They noted that the move was a valuation call. Finally, Morgan Stanley reissued an “overweight” rating and issued a $50.00 price objective (down from $60.00) on shares of National Oilwell Varco in a research note on Wednesday, June 21st. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $38.82.

Shares of National Oilwell Varco, Inc. (NOV) traded up 2.16% during trading on Wednesday, reaching $34.10. The company’s stock had a trading volume of 1,357,971 shares. The company’s market capitalization is $12.96 billion. National Oilwell Varco, Inc. has a one year low of $29.90 and a one year high of $43.63. The firm’s 50-day moving average price is $31.40 and its 200-day moving average price is $34.51.

National Oilwell Varco (NYSE:NOV) last announced its earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.14). The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.78 billion. National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.30) EPS. On average, equities analysts anticipate that National Oilwell Varco, Inc. will post ($0.40) earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.60%. National Oilwell Varco’s dividend payout ratio is presently -3.31%.

National Oilwell Varco Profile

National Oilwell Varco, Inc is an oilfield equipment manufacturer and technology provider. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies and Completion & Production Solutions. The Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore.

Institutional Ownership by Quarter for National Oilwell Varco (NYSE:NOV)

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