National-Oilwell Varco, Inc. (NYSE:NOV) – Equities research analysts at Jefferies Financial Group lowered their FY2021 earnings per share (EPS) estimates for National-Oilwell Varco in a report released on Monday, April 29th. Jefferies Financial Group analyst B. Handler now expects that the oil and gas exploration company will post earnings per share of $1.45 for the year, down from their previous forecast of $1.55.
National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas exploration company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.12). National-Oilwell Varco had a negative return on equity of 0.29% and a negative net margin of 0.47%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same period last year, the firm earned ($0.18) EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis.
Shares of NOV stock opened at $24.95 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.30 and a quick ratio of 1.81. National-Oilwell Varco has a 12-month low of $24.04 and a 12-month high of $49.08. The stock has a market cap of $10.09 billion, a price-to-earnings ratio of -311.88 and a beta of 1.20.
Large investors have recently made changes to their positions in the stock. Reinhart Partners Inc. increased its holdings in National-Oilwell Varco by 9.1% during the 1st quarter. Reinhart Partners Inc. now owns 314,332 shares of the oil and gas exploration company’s stock valued at $8,374,000 after purchasing an additional 26,311 shares during the period. State of Alaska Department of Revenue increased its holdings in National-Oilwell Varco by 29.5% during the 4th quarter. State of Alaska Department of Revenue now owns 138,601 shares of the oil and gas exploration company’s stock valued at $3,559,000 after purchasing an additional 31,567 shares during the period. Legal & General Group Plc increased its holdings in National-Oilwell Varco by 2.0% during the 3rd quarter. Legal & General Group Plc now owns 2,012,309 shares of the oil and gas exploration company’s stock valued at $86,712,000 after purchasing an additional 39,430 shares during the period. Virtu Financial LLC increased its holdings in National-Oilwell Varco by 51.4% during the 4th quarter. Virtu Financial LLC now owns 12,213 shares of the oil and gas exploration company’s stock valued at $314,000 after purchasing an additional 4,147 shares during the period. Finally, Gryphon Financial Partners LLC purchased a new position in National-Oilwell Varco during the 4th quarter valued at about $317,000. Institutional investors own 93.06% of the company’s stock.
In related news, VP Scott K. Duff sold 15,125 shares of the business’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $28.02, for a total transaction of $423,802.50. Following the transaction, the vice president now owns 54,098 shares in the company, valued at approximately $1,515,825.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.79% of the stock is currently owned by insiders.
About National-Oilwell Varco
National Oilwell Varco, Inc designs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. It operates in three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. The Wellbore Technologies segment offers various equipment and technologies used to perform drilling operations.
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