National-Oilwell Varco, Inc. (NYSE:NOV) – Analysts at Jefferies Group dropped their Q2 2018 earnings estimates for National-Oilwell Varco in a report released on Thursday. Jefferies Group analyst B. Handler now anticipates that the oil and gas exploration company will earn ($0.03) per share for the quarter, down from their prior forecast of ($0.02). Jefferies Group currently has a “Hold” rating and a $35.00 target price on the stock. Jefferies Group also issued estimates for National-Oilwell Varco’s FY2020 earnings at $2.10 EPS.
A number of other research firms also recently commented on NOV. ValuEngine raised shares of National-Oilwell Varco from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $36.00 price objective on shares of National-Oilwell Varco in a report on Tuesday, September 26th. Royal Bank of Canada set a $37.00 price objective on shares of National-Oilwell Varco and gave the stock a “hold” rating in a report on Thursday, December 21st. Deutsche Bank initiated coverage on National-Oilwell Varco in a research note on Tuesday, October 10th. They issued a “hold” rating and a $39.00 target price on the stock. Finally, Citigroup raised their target price on National-Oilwell Varco from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, October 5th. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. National-Oilwell Varco presently has a consensus rating of “Hold” and an average price target of $38.04.
National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. National-Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. The firm’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.34) earnings per share.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of National-Oilwell Varco by 2.5% during the second quarter. Vanguard Group Inc. now owns 38,794,232 shares of the oil and gas exploration company’s stock valued at $1,277,882,000 after purchasing an additional 930,849 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of National-Oilwell Varco by 2.1% during the third quarter. First Eagle Investment Management LLC now owns 27,068,594 shares of the oil and gas exploration company’s stock valued at $967,161,000 after purchasing an additional 563,589 shares in the last quarter. BlackRock Inc. raised its stake in shares of National-Oilwell Varco by 1.4% during the second quarter. BlackRock Inc. now owns 25,195,874 shares of the oil and gas exploration company’s stock valued at $829,954,000 after purchasing an additional 354,574 shares in the last quarter. Harris Associates L P raised its stake in shares of National-Oilwell Varco by 16.0% during the second quarter. Harris Associates L P now owns 18,574,753 shares of the oil and gas exploration company’s stock valued at $611,852,000 after purchasing an additional 2,557,484 shares in the last quarter. Finally, FMR LLC raised its stake in shares of National-Oilwell Varco by 6.4% during the second quarter. FMR LLC now owns 9,635,851 shares of the oil and gas exploration company’s stock valued at $317,405,000 after purchasing an additional 581,712 shares in the last quarter. Institutional investors and hedge funds own 92.47% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Friday, December 8th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Thursday, December 7th. National-Oilwell Varco’s dividend payout ratio is currently -8.06%.
COPYRIGHT VIOLATION NOTICE: “Jefferies Group Equities Analysts Decrease Earnings Estimates for National-Oilwell Varco, Inc. (NOV)” was first published by Community Financial News and is owned by of Community Financial News. If you are reading this news story on another domain, it was copied illegally and republished in violation of US and international copyright law. The legal version of this news story can be accessed at https://www.com-unik.info/2018/01/08/jefferies-group-equities-analysts-decrease-earnings-estimates-for-national-oilwell-varco-inc-nov.html.
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.
Receive News & Ratings for National-Oilwell Varco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National-Oilwell Varco and related companies with MarketBeat.com's FREE daily email newsletter.