National-Oilwell Varco’s (NOV) Buy Rating Reaffirmed at Gabelli

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Gabelli reiterated their buy rating on shares of National-Oilwell Varco (NYSE:NOV) in a research note published on Monday morning. Gabelli also issued estimates for National-Oilwell Varco’s FY2019 earnings at $0.40 EPS and FY2023 earnings at $3.25 EPS.

NOV has been the topic of a number of other research reports. Zacks Investment Research reiterated a strong sell rating on shares of National-Oilwell Varco in a research note on Wednesday, November 14th. R. F. Lafferty set a $43.00 price objective on shares of National-Oilwell Varco and gave the company a buy rating in a research note on Wednesday, November 28th. Tudor Pickering upgraded shares of National-Oilwell Varco from a hold rating to a buy rating in a report on Monday, November 5th. UBS Group set a $28.00 target price on shares of National-Oilwell Varco and gave the stock a hold rating in a report on Thursday, December 20th. Finally, Royal Bank of Canada set a $31.00 target price on shares of National-Oilwell Varco and gave the stock a hold rating in a report on Friday. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $39.09.

NYSE NOV opened at $28.83 on Monday. National-Oilwell Varco has a 12 month low of $24.27 and a 12 month high of $49.08. The company has a current ratio of 3.11, a quick ratio of 1.83 and a debt-to-equity ratio of 0.19. The company has a market cap of $10.87 billion, a P/E ratio of -360.38, a P/E/G ratio of 11.73 and a beta of 1.25.

National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data on Wednesday, February 6th. The oil and gas exploration company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.05). National-Oilwell Varco had a negative net margin of 0.37% and a negative return on equity of 0.22%. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the prior year, the business earned ($0.04) EPS. National-Oilwell Varco’s revenue was up 21.8% compared to the same quarter last year. Sell-side analysts predict that National-Oilwell Varco will post 0.4 EPS for the current fiscal year.

National-Oilwell Varco declared that its board has approved a share repurchase program on Tuesday, November 6th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the oil and gas exploration company to reacquire up to 3.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

A number of institutional investors have recently bought and sold shares of NOV. Millennium Management LLC acquired a new position in National-Oilwell Varco in the 2nd quarter worth approximately $1,194,000. Atria Investments LLC acquired a new position in National-Oilwell Varco in the 3rd quarter worth approximately $637,000. DNB Asset Management AS boosted its stake in National-Oilwell Varco by 21.7% in the 3rd quarter. DNB Asset Management AS now owns 62,845 shares of the oil and gas exploration company’s stock worth $2,707,000 after purchasing an additional 11,200 shares during the period. First Hawaiian Bank acquired a new position in National-Oilwell Varco in the 3rd quarter worth approximately $174,000. Finally, Andra AP fonden boosted its stake in National-Oilwell Varco by 2.1% in the 3rd quarter. Andra AP fonden now owns 120,400 shares of the oil and gas exploration company’s stock worth $5,187,000 after purchasing an additional 2,500 shares during the period. 92.16% of the stock is owned by hedge funds and other institutional investors.

About National-Oilwell Varco

National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

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

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