Q4 2018 EPS Estimates for National-Oilwell Varco, Inc. Boosted by Analyst (NOV)

National-Oilwell Varco, Inc. (NYSE:NOV) – Analysts at Jefferies Group increased their Q4 2018 earnings estimates for shares of National-Oilwell Varco in a research note issued to investors on Wednesday. Jefferies Group analyst E. Royes now forecasts that the oil and gas exploration company will post earnings of $0.17 per share for the quarter, up from their prior estimate of $0.10. Jefferies Group currently has a “Hold” rating and a $35.00 price target on the stock.

National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). National-Oilwell Varco had a negative net margin of 3.24% and a negative return on equity of 1.10%. The firm had revenue of $1.97 billion during the quarter. During the same quarter in the previous year, the business posted ($0.15) earnings per share.

Several other brokerages have also weighed in on NOV. Cowen set a $33.00 target price on shares of National-Oilwell Varco and gave the stock a “hold” rating in a research note on Thursday, January 11th. Susquehanna Bancshares set a $35.00 target price on shares of National-Oilwell Varco and gave the stock a “hold” rating in a research note on Friday, January 12th. Royal Bank of Canada reaffirmed a “hold” rating and set a $40.00 target price on shares of National-Oilwell Varco in a research note on Friday, January 19th. B. Riley set a $42.00 target price on shares of National-Oilwell Varco and gave the stock a “buy” rating in a research note on Friday, January 19th. Finally, ValuEngine raised shares of National-Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Five research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $38.50.

Shares of National-Oilwell Varco (NOV) traded up $0.44 during mid-day trading on Thursday, reaching $33.09. 5,520,000 shares of the company’s stock traded hands, compared to its average volume of 3,160,000. The company has a current ratio of 3.07, a quick ratio of 1.62 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $12,750.00, a price-to-earnings ratio of -52.52, a PEG ratio of 18.13 and a beta of 0.89. National-Oilwell Varco has a one year low of $29.90 and a one year high of $41.90.

Several hedge funds and other institutional investors have recently bought and sold shares of NOV. IHT Wealth Management LLC lifted its stake 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 worth $112,000 after acquiring an additional 500 shares during the last quarter. Dupont Capital Management Corp purchased a new position in National-Oilwell Varco in the fourth quarter worth approximately $141,000. Global Trust Asset Management LLC purchased a new position in National-Oilwell Varco in the fourth quarter worth approximately $160,000. Tiedemann Wealth Management LLC lifted its stake in National-Oilwell Varco by 77.8% in the third quarter. Tiedemann Wealth Management LLC now owns 11,668 shares of the oil and gas exploration company’s stock worth $194,000 after acquiring an additional 5,107 shares during the last quarter. Finally, IBM Retirement Fund purchased a new position in National-Oilwell Varco in the third quarter worth approximately $200,000. 91.83% of the stock is owned by institutional investors and hedge funds.

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National-Oilwell Varco Company Profile

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.

Earnings History and Estimates for National-Oilwell Varco (NYSE:NOV)

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