Shares of National Oilwell Varco (NYSE:NOV) have been assigned a consensus rating of “Hold” from the thirty-two analysts that are covering the company. Five investment 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 1 year target price among brokerages that have issued ratings on the stock in the last year is $34.71.
Several equities analysts recently commented on the company. Vetr cut National Oilwell Varco from a “buy” rating to a “hold” rating and set a $37.96 target price for the company. in a research report on Wednesday, June 8th. Bank of America Corp. restated an “underperform” rating on shares of National Oilwell Varco in a research report on Monday, June 13th. Zacks Investment Research upgraded National Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Monday, June 13th. Howard Weil upped their price objective on National Oilwell Varco from $32.00 to $37.00 and gave the stock a “sector perform” rating in a report on Wednesday, June 15th. Finally, Scotiabank reiterated a “sector perform” rating and issued a $37.00 price objective (up from $32.00) on shares of National Oilwell Varco in a report on Wednesday, June 15th.
Shares of National Oilwell Varco (NYSE:NOV) traded up 3.87% during trading on Wednesday, hitting $37.06. The stock had a trading volume of 2,986,513 shares. The firm has a 50-day moving average price of $34.36 and a 200 day moving average price of $32.82. National Oilwell Varco has a 52 week low of $25.74 and a 52 week high of $42.62. The company’s market capitalization is $14.00 billion.
National Oilwell Varco (NYSE:NOV) last released its quarterly earnings data 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. National Oilwell Varco had a positive return on equity of 1.83% and a negative net margin of 17.14%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the company posted $0.77 EPS. The firm’s revenue for the quarter was down 55.9% compared to the same quarter last year. Equities analysts anticipate that National Oilwell Varco will post ($0.92) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.20 annualized dividend and a yield of 0.56%. National Oilwell Varco’s dividend payout ratio is -4.40%.
In other news, VP Scott K. Duff sold 3,181 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $33.40, for a total value of $106,245.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.17% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Investment Management Company LLC increased its position in National Oilwell Varco by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 14,384 shares of the oil and gas exploration company’s stock worth $484,000 after buying an additional 36 shares during the period. Commerce Bank increased its position in National Oilwell Varco by 0.9% in the second quarter. Commerce Bank now owns 8,661 shares of the oil and gas exploration company’s stock worth $292,000 after buying an additional 78 shares during the period. First Foundation Advisors increased its position in National Oilwell Varco by 0.8% in the second quarter. First Foundation Advisors now owns 10,739 shares of the oil and gas exploration company’s stock worth $361,000 after buying an additional 81 shares during the period. Charter Trust Co. increased its position in National Oilwell Varco by 2.3% in the second quarter. Charter Trust Co. now owns 8,815 shares of the oil and gas exploration company’s stock worth $297,000 after buying an additional 200 shares during the period. Finally, Pacific Global Investment Management CO increased its position in National Oilwell Varco by 3.2% in the first quarter. Pacific Global Investment Management CO now owns 8,215 shares of the oil and gas exploration company’s stock worth $255,000 after buying an additional 252 shares during the period. Hedge funds and other institutional investors own 94.11% of the company’s stock.
National Oilwell Varco Company Profile
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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