California Public Employees Retirement System Purchases 59,242 Shares of National-Oilwell Varco, Inc. (NYSE:NOV)

California Public Employees Retirement System raised its position in National-Oilwell Varco, Inc. (NYSE:NOV) by 7.6% during the third quarter, Holdings Channel reports. The institutional investor owned 842,041 shares of the oil and gas exploration company’s stock after buying an additional 59,242 shares during the quarter. California Public Employees Retirement System’s holdings in National-Oilwell Varco were worth $17,851,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Securian Asset Management Inc boosted its position in shares of National-Oilwell Varco by 1.4% in the 2nd quarter. Securian Asset Management Inc now owns 39,714 shares of the oil and gas exploration company’s stock worth $883,000 after purchasing an additional 553 shares during the last quarter. Alps Advisors Inc. boosted its position in shares of National-Oilwell Varco by 2.1% in the 2nd quarter. Alps Advisors Inc. now owns 27,402 shares of the oil and gas exploration company’s stock worth $609,000 after purchasing an additional 558 shares during the last quarter. Heartland Advisors Inc. boosted its position in shares of National-Oilwell Varco by 2.2% in the 2nd quarter. Heartland Advisors Inc. now owns 26,669 shares of the oil and gas exploration company’s stock worth $593,000 after purchasing an additional 570 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of National-Oilwell Varco by 1.7% in the 2nd quarter. CIBC Asset Management Inc now owns 40,358 shares of the oil and gas exploration company’s stock worth $897,000 after purchasing an additional 664 shares during the last quarter. Finally, FinTrust Capital Advisors LLC boosted its position in shares of National-Oilwell Varco by 156.2% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 1,227 shares of the oil and gas exploration company’s stock worth $26,000 after purchasing an additional 748 shares during the last quarter. Hedge funds and other institutional investors own 94.63% of the company’s stock.

In other National-Oilwell Varco news, VP Scott K. Duff sold 6,000 shares of National-Oilwell Varco stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $23.51, for a total value of $141,060.00. Following the sale, the vice president now owns 42,721 shares of the company’s stock, valued at approximately $1,004,370.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph W. Rovig sold 22,640 shares of National-Oilwell Varco stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $18.37, for a total value of $415,896.80. Following the completion of the sale, the insider now directly owns 73,867 shares in the company, valued at approximately $1,356,936.79. The disclosure for this sale can be found here. Company insiders own 0.92% of the company’s stock.

Several analysts recently commented on the company. Seaport Global Securities raised National-Oilwell Varco from a “sell” rating to a “neutral” rating in a research note on Wednesday, July 31st. Susquehanna Bancshares raised National-Oilwell Varco from a “neutral” rating to a “positive” rating and set a $25.00 price objective on the stock in a research note on Monday, August 12th. Griffin Securities reaffirmed a “hold” rating on shares of National-Oilwell Varco in a research note on Thursday, August 1st. Citigroup dropped their price objective on National-Oilwell Varco from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Finally, Raymond James raised their price objective on National-Oilwell Varco from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $27.58.

NOV opened at $23.38 on Friday. The business’s 50-day moving average price is $21.68 and its two-hundred day moving average price is $21.97. National-Oilwell Varco, Inc. has a 1 year low of $18.05 and a 1 year high of $35.62. The company has a market capitalization of $9.32 billion, a price-to-earnings ratio of -292.25, a P/E/G ratio of 10.13 and a beta of 1.32. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.86 and a quick ratio of 1.75.

National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Monday, October 28th. The oil and gas exploration company reported ($0.64) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.76). National-Oilwell Varco had a negative net margin of 66.29% and a negative return on equity of 2.82%. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.17 billion. National-Oilwell Varco’s revenue for the quarter was down 1.3% on a year-over-year basis. Sell-side analysts anticipate that National-Oilwell Varco, Inc. will post 0.16 earnings per share for the current fiscal year.

National-Oilwell Varco Profile

National Oilwell Varco, Inc designs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. It operates in three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. The Wellbore Technologies segment offers various equipment and technologies used to perform drilling operations.

Further Reading: What is Put Option Volume?

Want to see what other hedge funds are holding NOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National-Oilwell Varco, Inc. (NYSE:NOV).

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

Receive News & Ratings for National-Oilwell Varco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National-Oilwell Varco and related companies with MarketBeat.com's FREE daily email newsletter.