National Oilwell Varco (NOV) Lifted to Hold at SunTrust Banks

SunTrust Banks upgraded shares of National Oilwell Varco (NYSE:NOV) from a sell rating to a hold rating in a research report released on Wednesday morning, Marketbeat Ratings reports. SunTrust Banks also issued estimates for National Oilwell Varco’s Q4 2017 earnings at ($0.05) EPS, FY2017 earnings at ($0.43) EPS, Q1 2018 earnings at ($0.02) EPS, Q2 2018 earnings at $0.02 EPS, Q3 2018 earnings at $0.08 EPS, Q4 2018 earnings at $0.15 EPS, FY2018 earnings at $0.23 EPS, Q1 2019 earnings at $0.18 EPS, Q2 2019 earnings at $0.24 EPS, Q3 2019 earnings at $0.31 EPS and FY2019 earnings at $1.12 EPS.

Several other research analysts have also weighed in on NOV. B. Riley reissued a buy rating on shares of National Oilwell Varco in a research report on Wednesday, November 1st. R. F. Lafferty reissued a hold rating and issued a $33.00 price objective (down from $38.00) on shares of National Oilwell Varco in a research report on Tuesday, August 1st. Zacks Investment Research raised National Oilwell Varco from a sell rating to a hold rating in a research report on Tuesday, August 1st. BidaskClub lowered National Oilwell Varco from a sell rating to a strong sell rating in a research report on Saturday, August 12th. Finally, Piper Jaffray Companies reaffirmed a buy rating and issued a $36.00 target price on shares of National Oilwell Varco in a research report on Tuesday, September 26th. Five research analysts have rated the stock with a sell rating, twenty have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. National Oilwell Varco has a consensus rating of Hold and a consensus price target of $38.00.

National Oilwell Varco (NOV) opened at $34.09 on Wednesday. National Oilwell Varco has a 12-month low of $29.90 and a 12-month high of $43.63. The company has a current ratio of 2.75, a quick ratio of 1.62 and a debt-to-equity ratio of 0.19.

National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. National Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the company posted ($0.34) EPS. The business’s quarterly revenue was up 11.5% on a year-over-year basis. equities analysts predict that National Oilwell Varco will post -0.41 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.20 dividend on an annualized basis and a yield of 0.59%. National Oilwell Varco’s dividend payout ratio (DPR) is currently -8.03%.

A number of hedge funds have recently added to or reduced their stakes in the business. Moors & Cabot Inc. boosted its stake in National Oilwell Varco by 6.7% during the 3rd quarter. Moors & Cabot Inc. now owns 27,646 shares of the oil and gas exploration company’s stock valued at $991,000 after purchasing an additional 1,726 shares during the last quarter. Afam Capital Inc. boosted its stake in National Oilwell Varco by 4.3% during the 3rd quarter. Afam Capital Inc. now owns 144,634 shares of the oil and gas exploration company’s stock valued at $5,168,000 after purchasing an additional 5,919 shares during the last quarter. California Public Employees Retirement System boosted its stake in National Oilwell Varco by 4.7% during the 3rd quarter. California Public Employees Retirement System now owns 1,211,321 shares of the oil and gas exploration company’s stock valued at $43,280,000 after purchasing an additional 54,039 shares during the last quarter. Janus Henderson Group PLC boosted its stake in National Oilwell Varco by 24.6% during the 3rd quarter. Janus Henderson Group PLC now owns 151,848 shares of the oil and gas exploration company’s stock valued at $5,425,000 after purchasing an additional 29,990 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its stake in National Oilwell Varco by 1.2% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 481,830 shares of the oil and gas exploration company’s stock valued at $17,216,000 after purchasing an additional 5,641 shares during the last quarter. Institutional investors and hedge funds own 92.57% of the company’s stock.

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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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