Shares of National Oilwell Varco (NYSE:NOV) have earned an average rating of “Hold” from the thirty-two brokerages that are presently covering the company. Five equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seven have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $34.71.
NOV has been the subject of a number of analyst reports. Citigroup Inc. boosted their target price on shares of National Oilwell Varco from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Monday, September 12th. Goldman Sachs Group Inc. reissued a “neutral” rating on shares of National Oilwell Varco in a research note on Tuesday, July 5th. Vetr raised shares of National Oilwell Varco from a “buy” rating to a “strong-buy” rating and set a $40.44 target price for the company in a research note on Tuesday, June 21st. Seaport Global Securities reissued a “neutral” rating on shares of National Oilwell Varco in a research note on Friday, August 19th. Finally, Johnson Rice raised shares of National Oilwell Varco from a “hold” rating to an “accumulate” rating in a research note on Friday, July 29th.
In other news, VP Scott K. Duff sold 3,181 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $33.40, for a total transaction of $106,245.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.17% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Virginia Retirement System purchased a new stake in National Oilwell Varco during the first quarter worth about $700,000. IFP Advisors Inc raised its stake in National Oilwell Varco by 52.2% in the first quarter. IFP Advisors Inc now owns 9,474 shares of the oil and gas exploration company’s stock worth $295,000 after buying an additional 3,249 shares in the last quarter. Ngam Advisors L.P. raised its stake in National Oilwell Varco by 1.2% in the first quarter. Ngam Advisors L.P. now owns 120,478 shares of the oil and gas exploration company’s stock worth $3,747,000 after buying an additional 1,405 shares in the last quarter. Teachers Advisors Inc. raised its stake in National Oilwell Varco by 4.5% in the first quarter. Teachers Advisors Inc. now owns 625,196 shares of the oil and gas exploration company’s stock worth $19,444,000 after buying an additional 27,045 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in National Oilwell Varco by 7.3% in the first quarter. Prudential Financial Inc. now owns 1,057,002 shares of the oil and gas exploration company’s stock worth $32,873,000 after buying an additional 71,500 shares in the last quarter. Institutional investors and hedge funds own 94.11% of the company’s stock.
Shares of National Oilwell Varco (NYSE:NOV) opened at 36.84 on Wednesday. National Oilwell Varco has a 12 month low of $25.74 and a 12 month high of $40.97. The firm’s market cap is $13.91 billion. The company’s 50-day moving average is $34.49 and its 200-day moving average is $32.91.
National Oilwell Varco (NYSE:NOV) last posted its earnings results on Thursday, July 28th. The oil and gas exploration company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.02. The firm earned $1.72 billion during the quarter, compared to analyst estimates of $1.80 billion. National Oilwell Varco had a negative net margin of 17.14% and a positive return on equity of 1.83%. National Oilwell Varco’s revenue was down 55.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 EPS. On average, equities research analysts forecast that National Oilwell Varco will post ($0.92) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were issued a dividend of $0.05 per share. The ex-dividend date was Wednesday, September 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. National Oilwell Varco’s dividend payout ratio is currently -4.40%.
About National Oilwell Varco
National Oilwell Varco, Inc (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 operates through four segments: Rig Systems, which makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore; Rig Aftermarket, which provides aftermarket products and services to support land and offshore rigs, and drilling rig components manufactured by the Company’s Rig Systems segment; Wellbore Technologies, which sells and rents solids control equipment, and provides solids control, waste management and drilling fluids services, and Completion & Production Solutions, which provides technologies for well completions and oil and gas production.
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