A number of other brokerages have also commented on NOV. BMO Capital Markets reiterated a sell rating and set a $30.00 price target on shares of National Oilwell Varco in a report on Thursday, June 22nd. Credit Suisse Group set a $35.00 target price on shares of National Oilwell Varco and gave the company a hold rating in a report on Saturday, July 29th. Piper Jaffray Companies upgraded shares of National Oilwell Varco from a neutral rating to an overweight rating and boosted their target price for the company from $36.00 to $37.00 in a report on Tuesday, June 20th. Vetr upgraded shares of National Oilwell Varco from a buy rating to a strong-buy rating and set a $45.00 target price on the stock in a report on Monday, April 10th. Finally, Jefferies Group LLC set a $38.00 target price on shares of National Oilwell Varco and gave the company a hold rating in a report on Thursday, April 27th. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $38.63.
Shares of National Oilwell Varco (NOV) opened at 30.38 on Friday. The company has a 50-day moving average price of $32.47 and a 200 day moving average price of $35.46. The firm’s market capitalization is $11.55 billion. National Oilwell Varco has a 52-week low of $29.90 and a 52-week high of $43.63.
National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14). The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.78 billion. National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. National Oilwell Varco’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.30) earnings per share. Analysts expect that National Oilwell Varco will post ($0.39) EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Thursday, September 14th. National Oilwell Varco’s payout ratio is -3.31%.
Several institutional investors have recently modified their holdings of NOV. IHT Wealth Management LLC raised its position in National Oilwell Varco by 1,923.1% in the second quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock valued at $112,000 after buying an additional 500 shares in the last quarter. FNY Partners Fund LP acquired a new position in National Oilwell Varco during the first quarter valued at approximately $120,000. Quadrant Capital Group LLC raised its position in National Oilwell Varco by 6.8% in the first quarter. Quadrant Capital Group LLC now owns 3,214 shares of the oil and gas exploration company’s stock valued at $122,000 after buying an additional 205 shares in the last quarter. Exane Derivatives raised its position in National Oilwell Varco by 113.8% in the second quarter. Exane Derivatives now owns 3,985 shares of the oil and gas exploration company’s stock valued at $131,000 after buying an additional 2,121 shares in the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new position in National Oilwell Varco during the second quarter valued at approximately $194,000. 91.63% of the stock is currently owned by hedge funds and other institutional investors.
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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