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National Oilwell Varco: Are Institutional Investors Bullish?

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Top investors

The top ten institutional investors in National Oilwell Varco (NOV) added 5.6 million National Oilwell Varco shares to their positions during the first quarter. A purchase of 4 million shares by Pzena Investment Management was the biggest position change. The purchase raised Pzena’s stake in the stock from 3.3% to 4.3%. ClearBridge Investments purchased 1 million shares, which increased its stake to 2.9%.

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Vulcan Value Partners sold 0.5 million shares, which reduced its stake to 5.5% from 5.7% at the end of 2018. Together, the top ten investors hold 52.7% of National Oilwell Varco’s outstanding shares—up from 51.5% held at the end of 2018. The above table shows the top ten institutional investors in National Oilwell Varco and the latest position changes.

Other transactions

Recently, Union Investment Privatfonds GmbH purchased 1.7 million shares and AllianceBernstein L.P. purchased 1.3 million National Oilwell Varco shares. Morgan Stanley Investment Management sold 2.4 million shares, while DZ Bank AG and Columbia Threadneedle Investments each sold 2.1 million National Oilwell Varco shares.

National Oilwell Varco stock has fallen 7% in 2019. In comparison, the VanEck Vectors Oil Services ETF (OIH) has risen 8% year-to-date. National Oilwell Varco forms 4.9% of OIH.

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