ValuEngine Lowers National Oilwell Varco, Inc. (NOV) to Sell

ValuEngine lowered shares of National Oilwell Varco, Inc. (NYSE:NOV) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

Several other brokerages have also issued reports on NOV. Jefferies Group LLC set a $34.00 price target on shares of National Oilwell Varco and gave the company a hold rating in a report on Thursday, October 5th. Piper Jaffray Companies reissued a buy rating and issued a $36.00 price target on shares of National Oilwell Varco in a report on Tuesday, September 26th. Deutsche Bank AG assumed coverage on shares of National Oilwell Varco in a report on Tuesday. They issued a hold rating and a $39.00 price target for the company. Citigroup Inc. boosted their price target on shares of National Oilwell Varco from $34.00 to $36.00 and gave the company a neutral rating in a report on Thursday, October 5th. Finally, Cowen and Company set a $30.00 price target on shares of National Oilwell Varco and gave the company a hold rating in a report on Friday, October 6th. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $38.61.

National Oilwell Varco (NYSE NOV) traded up 0.79% during mid-day trading on Wednesday, hitting $34.65. The stock had a trading volume of 1,615,087 shares. National Oilwell Varco has a 1-year low of $29.90 and a 1-year high of $43.63. The company’s market cap is $13.17 billion. The company has a 50-day moving average price of $33.84 and a 200 day moving average price of $33.87.

National Oilwell Varco (NYSE:NOV) last released its 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). National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the business earned ($0.30) EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities research analysts forecast that National Oilwell Varco will post ($0.41) EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “ValuEngine Lowers National Oilwell Varco, Inc. (NOV) to Sell” was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this news story on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this news story can be viewed at https://ledgergazette.com/2017/10/14/valuengine-lowers-national-oilwell-varco-inc-nov-to-sell.html.

The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.58%. National Oilwell Varco’s payout ratio is -3.31%.

Hedge funds have recently modified their holdings of the company. Amalgamated Bank raised its holdings in shares of National Oilwell Varco by 6.1% in the 1st quarter. Amalgamated Bank now owns 26,521 shares of the oil and gas exploration company’s stock valued at $1,063,000 after purchasing an additional 1,525 shares during the period. Andra AP fonden raised its holdings in shares of National Oilwell Varco by 32.7% in the 2nd quarter. Andra AP fonden now owns 58,500 shares of the oil and gas exploration company’s stock valued at $1,927,000 after purchasing an additional 14,400 shares during the period. Comerica Bank raised its holdings in shares of National Oilwell Varco by 1.0% in the 2nd quarter. Comerica Bank now owns 121,682 shares of the oil and gas exploration company’s stock valued at $4,037,000 after purchasing an additional 1,187 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of National Oilwell Varco by 13.1% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 234,915 shares of the oil and gas exploration company’s stock valued at $9,416,000 after purchasing an additional 27,197 shares during the period. Finally, HAP Trading LLC raised its holdings in shares of National Oilwell Varco by 281.5% in the 2nd quarter. HAP Trading LLC now owns 21,957 shares of the oil and gas exploration company’s stock valued at $723,000 after purchasing an additional 34,057 shares during the period. 90.29% of the stock is currently owned by institutional in

Several other brokerages have also issued reports on NOV. Jefferies Group LLC set a $34.00 price target on shares of National Oilwell Varco and gave the company a hold rating in a report on Thursday, October 5th. Piper Jaffray Companies reissued a buy rating and issued a $36.00 price target on shares of National Oilwell Varco in a report on Tuesday, September 26th. Deutsche Bank AG assumed coverage on shares of National Oilwell Varco in a report on Tuesday. They issued a hold rating and a $39.00 price target for the company. Citigroup Inc. boosted their price target on shares of National Oilwell Varco from $34.00 to $36.00 and gave the company a neutral rating in a report on Thursday, October 5th. Finally, Cowen and Company set a $30.00 price target on shares of National Oilwell Varco and gave the company a hold rating in a report on Friday, October 6th. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $38.61.

National Oilwell Varco (NYSE NOV) traded up 0.79% during mid-day trading on Wednesday, hitting $34.65. The stock had a trading volume of 1,615,087 shares. National Oilwell Varco has a 1-year low of $29.90 and a 1-year high of $43.63. The company’s market cap is $13.17 billion. The company has a 50-day moving average price of $33.84 and a 200 day moving average price of $33.87.

National Oilwell Varco (NYSE:NOV) last released its 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). National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the business earned ($0.30) EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities research analysts forecast that National Oilwell Varco will post ($0.41) EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “ValuEngine Lowers National Oilwell Varco, Inc. (NOV) to Sell” was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this news story on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this news story can be viewed at https://ledgergazette.com/2017/10/14/valuengine-lowers-national-oilwell-varco-inc-nov-to-sell.html.

The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.58%. National Oilwell Varco’s payout ratio is -3.31%.

Hedge funds have recently modified their holdings of the company. Amalgamated Bank raised its holdings in shares of National Oilwell Varco by 6.1% in the 1st quarter. Amalgamated Bank now owns 26,521 shares of the oil and gas exploration company’s stock valued at $1,063,000 after purchasing an additional 1,525 shares during the period. Andra AP fonden raised its holdings in shares of National Oilwell Varco by 32.7% in the 2nd quarter. Andra AP fonden now owns 58,500 shares of the oil and gas exploration company’s stock valued at $1,927,000 after purchasing an additional 14,400 shares during the period. Comerica Bank raised its holdings in shares of National Oilwell Varco by 1.0% in the 2nd quarter. Comerica Bank now owns 121,682 shares of the oil and gas exploration company’s stock valued at $4,037,000 after purchasing an additional 1,187 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of National Oilwell Varco by 13.1% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 234,915 shares of the oil and gas exploration company’s stock valued at $9,416,000 after purchasing an additional 27,197 shares during the period. Finally, HAP Trading LLC raised its holdings in shares of National Oilwell Varco by 281.5% in the 2nd quarter. HAP Trading LLC now owns 21,957 shares of the oil and gas exploration company’s stock valued at $723,000 after purchasing an additional 34,057 shares during the period. 90.29% of the stock is currently owned by institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for National Oilwell Varco (NYSE:NOV)

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