Friday, May 24, 2024

National-Oilwell Varco, Inc. (NOV) Position Cut by Catawba Capital Management VA

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Catawba Capital Management VA reduced its position in shares of National-Oilwell Varco, Inc. (NYSE:NOV) by 3.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 73,768 shares of the oil and gas exploration company’s stock after selling 2,875 shares during the period. Catawba Capital Management VA’s holdings in National-Oilwell Varco were worth $2,470,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NOV. Beacon Financial Group boosted 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 worth $393,000 after buying an additional 2,459 shares in the last quarter. Kiltearn Partners boosted its stake 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 during the period. Natixis Asset Management boosted its stake in National-Oilwell Varco by 5.7% in the third quarter. Natixis Asset Management now owns 7,544 shares of the oil and gas exploration company’s stock valued at $284,000 after buying an additional 408 shares during the period. Chicago Trust Company boosted its stake in National-Oilwell Varco by 44.3% in the fourth quarter. Chicago Trust Company now owns 36,628 shares of the oil and gas exploration company’s stock valued at $1,227,000 after buying an additional 11,252 shares during the period. Finally, Creative Planning boosted its stake in National-Oilwell Varco by 13.1% in the fourth quarter. Creative Planning now owns 19,291 shares of the oil and gas exploration company’s stock valued at $646,000 after buying an additional 2,227 shares during the period.

Shares of National-Oilwell Varco, Inc. (NYSE:NOV) traded down 8.71% on Wednesday, reaching $28.00. The company’s stock had a trading volume of 29,172,973 shares. National-Oilwell Varco, Inc. has a 52-week low of $26.10 and a 52-week high of $56.64. The stock has a 50-day moving average of $31.88 and a 200 day moving average of $37.20. The company has a market cap of $10.52 billion and a price-to-earnings ratio of 8.33.

National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Wednesday, February 3rd. The oil and gas exploration company reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.24. The firm earned $2.72 billion during the quarter, compared to analysts’ expectations of $3.12 billion. The business’s revenue was down 52.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.69 EPS. On average, equities research analysts forecast that National-Oilwell Varco, Inc. will post $2.94 earnings per share for the current year.

NOV has been the topic of several research reports. Evercore ISI reduced their price target on National-Oilwell Varco to $37.00 in a report on Thursday, October 29th. Seaport Global Securities reduced their price target on National-Oilwell Varco from $49.00 to $40.00 in a report on Thursday, October 29th. Citigroup Inc. reduced their price target on National-Oilwell Varco from $34.00 to $32.00 in a report on Wednesday, January 13th. Raymond James reduced their price target on National-Oilwell Varco from $42.00 to $37.00 in a report on Thursday, January 14th. Finally, Robert W. Baird reduced their price target on National-Oilwell Varco from $39.00 to $34.00 in a report on Thursday, January 21st. Six research analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $42.06.

In other news, Director David D. Harrison sold 16,352 shares of National-Oilwell Varco stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $38.79, for a total value of $634,294.08. Following the sale, the director now directly owns 40,087 shares in the company, valued at approximately $1,554,974.73. The sale was disclosed in a filing with the SEC, which is available through this link.

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.

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