Tudor Pickering Initiates Coverage on National-Oilwell Varco, Inc. (NOV)

Equities research analysts at Tudor Pickering assumed coverage on shares of National-Oilwell Varco, Inc. (NYSE:NOV) in a report released on Thursday. The brokerage set a “hold” rating on the oil and gas exploration company’s stock.

NOV has been the subject of several other reports. Vetr lowered shares of National-Oilwell Varco from a “buy” rating to a “hold” rating and set a $41.60 price objective for the company. in a research report on Tuesday, February 14th. BMO Capital Markets set a $30.00 price objective on shares of National-Oilwell Varco and gave the company a “sell” rating in a research report on Thursday, January 12th. Instinet reaffirmed a “neutral” rating and issued a $35.00 price objective on shares of National-Oilwell Varco in a research report on Tuesday, February 7th. Credit Suisse Group AG raised shares of National-Oilwell Varco from an “underperform” rating to a “neutral” rating and set a $40.00 price objective for the company in a research report on Wednesday, February 8th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $47.00 price objective on shares of National-Oilwell Varco in a research report on Friday, January 6th. Three analysts have rated the stock with a sell rating, twenty have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $37.89.

Analyst Recommendations for National-Oilwell Varco (NYSE:NOV)

National-Oilwell Varco (NYSE:NOV) opened at 38.46 on Thursday. The firm’s 50-day moving average is $39.28 and its 200 day moving average is $37.11. National-Oilwell Varco has a one year low of $26.86 and a one year high of $43.63. The stock’s market cap is $14.57 billion.

National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings data on Monday, February 6th. The oil and gas exploration company reported ($0.15) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.14. The firm earned $1.69 billion during the quarter, compared to analyst estimates of $1.62 billion. National-Oilwell Varco had a negative net margin of 33.26% and a negative return on equity of 2.08%. National-Oilwell Varco’s revenue was down 37.8% on a year-over-year basis. During the same period last year, the firm posted $0.23 EPS. On average, analysts anticipate that National-Oilwell Varco will post ($0.36) EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, March 15th. This represents a $0.20 dividend on an annualized basis and a yield of 0.52%. National-Oilwell Varco’s dividend payout ratio is currently -3.12%.

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In related news, insider Joseph W. Rovig sold 49,825 shares of National-Oilwell Varco stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $41.48, for a total value of $2,066,741.00. Following the sale, the insider now owns 91 shares of the company’s stock, valued at approximately $3,774.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Scott K. Duff sold 4,785 shares of National-Oilwell Varco stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $40.79, for a total transaction of $195,180.15. Following the completion of the sale, the vice president now directly owns 25,121 shares in the company, valued at approximately $1,024,685.59. The disclosure for this sale can be found here. Insiders sold a total of 91,979 shares of company stock worth $3,751,823 in the last three months. 0.17% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan raised its position in shares of National-Oilwell Varco by 0.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 11,950 shares of the oil and gas exploration company’s stock worth $439,000 after buying an additional 50 shares during the last quarter. Wesbanco Bank Inc. raised its position in shares of National-Oilwell Varco by 0.7% in the fourth quarter. Wesbanco Bank Inc. now owns 6,725 shares of the oil and gas exploration company’s stock worth $251,000 after buying an additional 50 shares during the last quarter. Cim Investment Mangement Inc. raised its position in shares of National-Oilwell Varco by 1.2% in the fourth quarter. Cim Investment Mangement Inc. now owns 8,647 shares of the oil and gas exploration company’s stock worth $324,000 after buying an additional 102 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its position in shares of National-Oilwell Varco by 2.8% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 6,503 shares of the oil and gas exploration company’s stock worth $238,000 after buying an additional 178 shares during the last quarter. Finally, Point View Wealth Management Inc. raised its position in shares of National-Oilwell Varco by 1.8% in the third quarter. Point View Wealth Management Inc. now owns 10,782 shares of the oil and gas exploration company’s stock worth $396,000 after buying an additional 186 shares during the last quarter. 94.98% of the stock is currently owned by hedge funds and other institutional investors.

National-Oilwell Varco Company Profile

National Oilwell Varco, Inc is an oilfield equipment manufacturer and technology provider. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies and Completion & Production Solutions. The Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore.

5 Day Chart for NYSE:NOV

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