Alps Advisors Inc. lifted its position in National-Oilwell Varco, Inc. (NYSE:NOV) by 10.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,657 shares of the oil and gas exploration company’s stock after buying an additional 2,471 shares during the period. Alps Advisors Inc.’s holdings in National-Oilwell Varco were worth $685,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Millennium Management LLC acquired a new stake in National-Oilwell Varco during the 2nd quarter valued at $1,194,000. Atria Investments LLC acquired a new stake in National-Oilwell Varco during the 3rd quarter valued at $637,000. First Hawaiian Bank acquired a new stake in National-Oilwell Varco during the 3rd quarter valued at $174,000. Andra AP fonden increased its holdings in National-Oilwell Varco by 2.1% during the 3rd quarter. Andra AP fonden now owns 120,400 shares of the oil and gas exploration company’s stock valued at $5,187,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in National-Oilwell Varco by 8.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 197,857 shares of the oil and gas exploration company’s stock valued at $8,523,000 after purchasing an additional 14,859 shares in the last quarter. Hedge funds and other institutional investors own 92.16% of the company’s stock.
NOV stock opened at $29.51 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.83 and a current ratio of 3.11. The stock has a market cap of $11.04 billion, a price-to-earnings ratio of -368.88, a price-to-earnings-growth ratio of 11.73 and a beta of 1.25. National-Oilwell Varco, Inc. has a 1-year low of $24.27 and a 1-year high of $49.08.
National-Oilwell Varco declared that its board has authorized a stock buyback program on Tuesday, November 6th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the oil and gas exploration company to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
NOV has been the subject of a number of recent analyst reports. ValuEngine cut National-Oilwell Varco from a “buy” rating to a “hold” rating in a report on Wednesday, October 17th. Jefferies Financial Group increased their price objective on National-Oilwell Varco from $42.00 to $46.00 and gave the company a “hold” rating in a research report on Thursday, October 18th. Seaport Global Securities set a $31.00 price objective on National-Oilwell Varco and gave the company a “sell” rating in a research report on Monday, October 29th. Piper Jaffray Companies set a $42.00 price target on National-Oilwell Varco and gave the stock a “buy” rating in a research report on Sunday, October 28th. Finally, Royal Bank of Canada set a $43.00 price target on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Sunday, October 28th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $39.09.
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National-Oilwell Varco Company Profile
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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