National Oilwell Varco (NOV) Position Has Raised by Dodge & Cox; As Bank Of New York Mellon (BK) Shares Declined, Holder Bank Of New York Mellon Has Lowered Its Stake by $17.47 Million

August 12, 2018 - By Jason Dias

National Oilwell Varco, Inc. (NYSE:NOV) Logo

Dodge & Cox increased its stake in National Oilwell Varco Inc (NOV) by 4.08% based on its latest 2018Q1 regulatory filing with the SEC. Dodge & Cox bought 1.27 million shares as the company’s stock rose 14.04% while stock markets declined. The institutional investor held 32.45M shares of the energy company at the end of 2018Q1, valued at $1.19 billion, up from 31.17M at the end of the previous reported quarter. Dodge & Cox who had been investing in National Oilwell Varco Inc for a number of months, seems to be bullish on the $17.54B market cap company. The stock increased 0.42% or $0.19 during the last trading session, reaching $45.84. About 2.93M shares traded. National Oilwell Varco, Inc. (NYSE:NOV) has risen 26.56% since August 12, 2017 and is uptrending. It has outperformed by 13.99% the S&P500. Some Historical NOV News: 16/04/2018 – National Oilwell Varco Cites Reduced Progress on New Offshore Rig Construction; 27/04/2018 – NOV: SAW EXPLORERS DEPLOY DRILL PIPE FROM STACKED RIGS IN 1Q; 16/04/2018 – National Oilwell Varco Warns Of Revenue Miss — MarketWatch; 16/04/2018 – National Oilwell Varco: Expect Demand for Products, Services to Resume Growth as Year Progresses; 06/03/2018 Report: Developing Opportunities within Carrizo Oil & Gas, Stryker, National Oilwell Varco, CommScope Holding, Park Hotels & Re; 26/04/2018 – NATIONAL OILWELL 1Q ADJ EBITDA $160M; 26/04/2018 – NATIONAL OILWELL VARCO INC NOV.N – BACKLOG FOR CAPITAL EQUIPMENT ORDERS FOR COMPLETION & PRODUCTION SOLUTIONS AT MARCH 31, 2018 WAS $1.01 BLN; 26/04/2018 – NATIONAL OILWELL 1Q REV. $1.80B; 26/04/2018 – NATIONAL OILWELL VARCO INC NOV.N – BACKLOG FOR CAPITAL EQUIPMENT ORDERS FOR RIG TECHNOLOGIES AT MARCH 31, 2018 WAS $2.05 BLN; 27/04/2018 – NATIONAL OILWELL SEEING MORE ELABORATE U.S. LAND RIG UPGRADES

Bank Of New York Mellon Corp decreased its stake in Bank Of New York Mellon Corp (BK) by 4.68% based on its latest 2018Q1 regulatory filing with the SEC. Bank Of New York Mellon Corp sold 342,511 shares as the company’s stock declined 2.03% with the market. The institutional investor held 6.98M shares of the major banks company at the end of 2018Q1, valued at $359.56M, down from 7.32 million at the end of the previous reported quarter. Bank Of New York Mellon Corp who had been investing in Bank Of New York Mellon Corp for a number of months, seems to be less bullish one the $51.02 billion market cap company. The stock decreased 2.43% or $1.27 during the last trading session, reaching $51.02. About 13.59 million shares traded or 164.79% up from the average. The Bank of New York Mellon Corporation (NYSE:BK) has risen 20.30% since August 12, 2017 and is uptrending. It has outperformed by 7.73% the S&P500. Some Historical BK News: 13/03/2018 – BNY MELLON APAC CHAIRMAN CRUIKSHANK SPEAKS ON BLOOMBERG RADIO; 17/05/2018 – REG-Bank of New York Mellon Net Asset Value(s); 03/04/2018 – 85QT: Bank of New York Mellon: FRN Variable Rate Fix; 17/05/2018 – 42CG: Bank of New York Mellon: FRN Variable Rate Fix Amendment; 18/04/2018 – A.M. Best Affirms Credit Ratings of BNY Trade Insurance, Ltd. and The Hamilton Insurance Corp; 15/03/2018 – 64OX: Bank of New York Mellon: FRN Variable Rate Fix; 16/04/2018 – 88ST: Bank of New York Mellon: FRN Variable Rate Fix; 19/03/2018 – BNY Mellon Wealth Management Names Robert J. Bowman as Mid-Atlantic Region Managing Director, Business Development; 25/04/2018 – 63AM: Bank of New York Mellon: FRN Variable Rate Fix; 13/04/2018 – BNY Mellon Unit Sees Opportunities in Argentina, Mexico Debt

Analysts await The Bank of New York Mellon Corporation (NYSE:BK) to report earnings on October, 18. They expect $1.04 earnings per share, up 6.12% or $0.06 from last year’s $0.98 per share. BK’s profit will be $1.04 billion for 12.26 P/E if the $1.04 EPS becomes a reality. After $1.03 actual earnings per share reported by The Bank of New York Mellon Corporation for the previous quarter, Wall Street now forecasts 0.97% EPS growth.

Among 25 analysts covering The Bank Of New York Mellon Corporation (NYSE:BK), 11 have Buy rating, 3 Sell and 11 Hold. Therefore 44% are positive. The Bank Of New York Mellon Corporation had 86 analyst reports since July 22, 2015 according to SRatingsIntel. The firm earned “Hold” rating on Wednesday, October 7 by Jefferies. Keefe Bruyette & Woods maintained it with “Hold” rating and $6000 target in Thursday, April 19 report. The stock has “Hold” rating by RBC Capital Markets on Friday, October 6. Keefe Bruyette & Woods maintained the shares of BK in report on Thursday, January 18 with “Hold” rating. The stock has “Buy” rating by Deutsche Bank on Monday, July 18. As per Wednesday, January 10, the company rating was upgraded by Citigroup. Credit Suisse downgraded The Bank of New York Mellon Corporation (NYSE:BK) on Monday, April 24 to “Neutral” rating. RBC Capital Markets maintained the shares of BK in report on Thursday, June 22 with “Hold” rating. The firm has “Hold” rating given on Friday, September 15 by Jefferies. Keefe Bruyette & Woods upgraded The Bank of New York Mellon Corporation (NYSE:BK) on Friday, October 21 to “Outperform” rating.

Bank Of New York Mellon Corp, which manages about $361.31B US Long portfolio, upped its stake in Vanguard Short (VTIP) by 57,686 shares to 160,615 shares, valued at $7.86 million in 2018Q1, according to the filing. It also increased its holding in Banc Of California Inc (NYSE:BANC) by 254,585 shares in the quarter, for a total of 1.16M shares, and has risen its stake in Ishares S&P 500 Value Etf (IVE).

Investors sentiment decreased to 0.87 in Q1 2018. Its down 0.12, from 0.99 in 2017Q4. It worsened, as 53 investors sold BK shares while 340 reduced holdings. 81 funds opened positions while 260 raised stakes. 812.17 million shares or 1.50% less from 824.52 million shares in 2017Q4 were reported. Ballentine Ltd Liability Co has invested 0.04% in The Bank of New York Mellon Corporation (NYSE:BK). Tt has 0.52% invested in The Bank of New York Mellon Corporation (NYSE:BK). Veritas Inv Llp holds 0.11% or 16,387 shares in its portfolio. Mcrae Management Incorporated invested 0.36% in The Bank of New York Mellon Corporation (NYSE:BK). First Personal Services invested 0.19% in The Bank of New York Mellon Corporation (NYSE:BK). Vanguard Group Incorporated accumulated 66.95 million shares. James Invest Research Incorporated invested in 34,280 shares or 0.07% of the stock. Moreover, Kcm Advsr Ltd Llc has 0.01% invested in The Bank of New York Mellon Corporation (NYSE:BK). Shelton Capital Mngmt invested in 137,542 shares or 0.46% of the stock. Louisiana State Employees Retirement Systems holds 0.15% of its portfolio in The Bank of New York Mellon Corporation (NYSE:BK) for 61,700 shares. Forte Lc Adv, New York-based fund reported 12,229 shares. Colorado-based Paragon Cap has invested 0.12% in The Bank of New York Mellon Corporation (NYSE:BK). Moreover, Baker Avenue Asset LP has 0.13% invested in The Bank of New York Mellon Corporation (NYSE:BK). Barrett Asset Management Lc reported 168,636 shares. Livforsakringsbolaget Skandia Omsesidigt reported 34,389 shares.

Another recent and important The Bank of New York Mellon Corporation (NYSE:BK) news was published by Benzinga.com which published an article titled: “A Look Ahead At Bank Of New York Mellon’s Earnings” on July 18, 2018.

Investors sentiment increased to 0.86 in 2018 Q1. Its up 0.16, from 0.7 in 2017Q4. It is positive, as 42 investors sold NOV shares while 182 reduced holdings. 54 funds opened positions while 138 raised stakes. 354.58 million shares or 1.45% more from 349.52 million shares in 2017Q4 were reported. Communications Of Vermont has 7,782 shares for 0.03% of their portfolio. Signaturefd Ltd Company holds 0.01% or 1,299 shares. Qs Invsts Ltd has 56,297 shares. Telemus Capital Llc has 0.08% invested in National Oilwell Varco, Inc. (NYSE:NOV) for 27,932 shares. Delta Asset Mgmt Ltd Co Tn reported 261,699 shares. Mountain Lake Mngmt reported 405,000 shares. Speece Thorson Cap Group has invested 3.96% of its portfolio in National Oilwell Varco, Inc. (NYSE:NOV). Moors And Cabot Inc has invested 0.13% in National Oilwell Varco, Inc. (NYSE:NOV). Alps Advsr reported 17,354 shares. 58,181 are owned by Exxonmobil Investment Mgmt Tx. Meag Munich Ergo Kapitalanlagegesellschaft Mbh holds 0.07% of its portfolio in National Oilwell Varco, Inc. (NYSE:NOV) for 47,400 shares. Amer Century Cos Inc, Missouri-based fund reported 5.76M shares. 6,644 are owned by Federated Pa. Franklin accumulated 8,239 shares. Hartford Fincl reported 48 shares.

Among 36 analysts covering National Oilwell Varco (NYSE:NOV), 8 have Buy rating, 5 Sell and 23 Hold. Therefore 22% are positive. National Oilwell Varco had 132 analyst reports since July 31, 2015 according to SRatingsIntel. The firm has “Buy” rating given on Thursday, August 17 by Loop Capital. The stock has “Sector Weight” rating by KeyBanc Capital Markets on Tuesday, January 5. Citigroup maintained National Oilwell Varco, Inc. (NYSE:NOV) rating on Monday, October 5. Citigroup has “Sell” rating and $32 target. The rating was upgraded by PiperJaffray to “Overweight” on Tuesday, June 20. The rating was maintained by Susquehanna on Wednesday, March 9 with “Neutral”. Susquehanna maintained National Oilwell Varco, Inc. (NYSE:NOV) on Friday, January 12 with “Hold” rating. The company was maintained on Friday, April 29 by Cowen & Co. The rating was downgraded by FBR Capital on Tuesday, April 17 to “Hold”. The firm has “Hold” rating given on Friday, January 19 by RBC Capital Markets. As per Friday, July 29, the company rating was upgraded by Johnson Rice.

Since February 28, 2018, it had 0 buys, and 4 sales for $5.43 million activity. $3.28 million worth of stock was sold by Rovig Joseph W on Wednesday, June 27. $1.66M worth of stock was sold by Duff Scott K. on Monday, May 14.

Dodge & Cox, which manages about $123.87B US Long portfolio, decreased its stake in Suncor Energy Inc (NYSE:SU) by 159,400 shares to 40.91M shares, valued at $1.41 billion in 2018Q1, according to the filing. It also reduced its holding in Union Pacific Corp (NYSE:UNP) by 264,120 shares in the quarter, leaving it with 13.22 million shares, and cut its stake in Concho Resources Inc (NYSE:CXO).

The Bank of New York Mellon Corporation (NYSE:BK) Institutional Positions Chart

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