National-Oilwell Varco, Inc. (NOV) Stake Lessened by Berkeley Capital Partners LLC

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Berkeley Capital Partners LLC cut its holdings in National-Oilwell Varco, Inc. (NYSE:NOV) by 5.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,848 shares of the oil and gas exploration company’s stock after selling 1,793 shares during the period. National-Oilwell Varco comprises approximately 0.7% of Berkeley Capital Partners LLC’s portfolio, making the stock its 24th biggest holding. Berkeley Capital Partners LLC’s holdings in National-Oilwell Varco were worth $1,329,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Arizona State Retirement System grew its holdings in shares of National-Oilwell Varco by 1.3% in the third quarter. Arizona State Retirement System now owns 203,208 shares of the oil and gas exploration company’s stock valued at $8,754,000 after acquiring an additional 2,546 shares in the last quarter. Adams Natural Resources Fund Inc. lifted its stake in National-Oilwell Varco by 146.6% in the third quarter. Adams Natural Resources Fund Inc. now owns 109,000 shares of the oil and gas exploration company’s stock valued at $4,696,000 after purchasing an additional 64,800 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in National-Oilwell Varco by 1,004.3% in the third quarter. Assenagon Asset Management S.A. now owns 136,269 shares of the oil and gas exploration company’s stock valued at $5,870,000 after purchasing an additional 123,929 shares during the last quarter. NN Investment Partners Holdings N.V. lifted its stake in National-Oilwell Varco by 32.0% in the third quarter. NN Investment Partners Holdings N.V. now owns 160,041 shares of the oil and gas exploration company’s stock valued at $6,894,000 after purchasing an additional 38,843 shares during the last quarter. Finally, QUANTRES ASSET MANAGEMENT Ltd purchased a new position in National-Oilwell Varco in the third quarter valued at approximately $564,000. 95.45% of the stock is owned by institutional investors.

Shares of NYSE:NOV traded up $1.02 during trading on Tuesday, hitting $36.13. 135,123 shares of the company were exchanged, compared to its average volume of 3,859,171. The company has a market cap of $13.73 billion, a P/E ratio of -85.50, a P/E/G ratio of 45.14 and a beta of 0.93. National-Oilwell Varco, Inc. has a 52-week low of $31.47 and a 52-week high of $49.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.17 and a quick ratio of 1.78.

In related news, Chairman Clay C. Williams sold 465,116 shares of the stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $47.91, for a total value of $22,283,707.56. Following the sale, the chairman now owns 811,642 shares in the company, valued at $38,885,768.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eric L. Mattson sold 5,284 shares of the stock in a transaction on Friday, August 24th. The stock was sold at an average price of $45.06, for a total value of $238,097.04. Following the completion of the sale, the director now owns 66,862 shares in the company, valued at approximately $3,012,801.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 510,850 shares of company stock worth $24,409,902. Company insiders own 0.79% of the company’s stock.

NOV has been the topic of several research analyst reports. Morgan Stanley initiated coverage on National-Oilwell Varco in a research note on Tuesday, September 18th. They issued an “equal weight” rating and a $50.00 price objective on the stock. Johnson Rice upgraded National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Tuesday, October 2nd. Credit Suisse Group set a $43.00 price objective on National-Oilwell Varco and gave the company a “hold” rating in a research note on Monday, July 30th. Stifel Nicolaus initiated coverage on National-Oilwell Varco in a research note on Monday, September 10th. They issued a “buy” rating and a $54.00 price objective on the stock. Finally, R. F. Lafferty upgraded National-Oilwell Varco from a “hold” rating to a “buy” rating and upped their price objective for the company from $41.00 to $51.00 in a research note on Tuesday, August 21st. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the stock. National-Oilwell Varco has an average rating of “Hold” and an average price target of $42.61.

About National-Oilwell Varco

National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

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

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