National-Oilwell Varco, Inc. (NYSE:NOV) has been given an average recommendation of “Hold” by the twenty-eight ratings firms that are currently covering the firm. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $38.81.
NOV has been the topic of a number of analyst reports. Vetr raised shares of National-Oilwell Varco from a “buy” rating to a “strong-buy” rating and set a $44.47 price objective on the stock in a report on Monday, March 20th. SunTrust Banks, Inc. assumed coverage on shares of National-Oilwell Varco in a report on Wednesday, January 18th. They issued a “hold” rating and a $40.00 price target on the stock. Societe Generale raised shares of National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Thursday, January 19th. BMO Capital Markets set a $30.00 price target on shares of National-Oilwell Varco and gave the stock a “sell” rating in a report on Thursday, January 12th. Finally, Loop Capital began coverage on shares of National-Oilwell Varco in a report on Tuesday, February 7th. They set a “hold” rating on the stock.
National-Oilwell Varco (NYSE:NOV) traded down 2.75% on Monday, reaching $34.65. 6,334,449 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $38.70 and its 200 day moving average price is $37.73. The firm’s market capitalization is $13.12 billion. National-Oilwell Varco has a 52-week low of $28.54 and a 52-week high of $43.63.
National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data on Monday, February 6th. The oil and gas exploration company reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.14. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.62 billion. National-Oilwell Varco had a negative net margin of 33.26% and a negative return on equity of 2.08%. The business’s revenue for the quarter was down 37.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 EPS. On average, analysts predict that National-Oilwell Varco will post ($0.37) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Friday, March 17th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Wednesday, March 15th. National-Oilwell Varco’s dividend payout ratio (DPR) is presently -3.12%.
In other news, insider Joseph W. Rovig sold 49,825 shares of the stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $41.48, for a total transaction of $2,066,741.00. Following the completion of the sale, the insider now owns 91 shares of the company’s stock, valued at $3,774.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Scott K. Duff sold 37,369 shares of the firm’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $39.87, for a total value of $1,489,902.03. Following the completion of the sale, the vice president now directly owns 30,559 shares of the company’s stock, valued at approximately $1,218,387.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,979 shares of company stock valued at $3,751,823. Insiders own 0.17% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Dodge & Cox bought a new position in shares of National-Oilwell Varco during the fourth quarter valued at $1,171,647,000. State Street Corp raised its position in shares of National-Oilwell Varco by 4.9% in the fourth quarter. State Street Corp now owns 22,236,890 shares of the oil and gas exploration company’s stock valued at $832,548,000 after buying an additional 1,044,224 shares during the last quarter. Harris Associates L P raised its position in shares of National-Oilwell Varco by 12.2% in the third quarter. Harris Associates L P now owns 15,538,489 shares of the oil and gas exploration company’s stock valued at $570,884,000 after buying an additional 1,691,653 shares during the last quarter. Parnassus Investments CA raised its position in shares of National-Oilwell Varco by 20.2% in the third quarter. Parnassus Investments CA now owns 14,062,198 shares of the oil and gas exploration company’s stock valued at $516,645,000 after buying an additional 2,366,764 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of National-Oilwell Varco by 1.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 9,880,107 shares of the oil and gas exploration company’s stock valued at $362,995,000 after buying an additional 147,005 shares during the last quarter. Institutional investors and hedge funds own 94.98% of the company’s stock.
About National-Oilwell Varco
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.
What are top analysts saying about National-Oilwell Varco Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for National-Oilwell Varco Inc. and related companies.