National-Oilwell Varco, Inc. (NOV) Receives $37.98 Average Price Target from Analysts

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.

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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.

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