National Oilwell Varco, Inc. (NOV) Cut to “Sell” at ValuEngine

ValuEngine downgraded shares of National Oilwell Varco, Inc. (NYSE:NOV) from a hold rating to a sell rating in a report released on Wednesday.

Other equities research analysts have also recently issued research reports about the stock. Piper Jaffray Companies reaffirmed a buy rating and set a $36.00 price objective on shares of National Oilwell Varco in a research report on Thursday, August 3rd. Loop Capital raised shares of National Oilwell Varco from a hold rating to a buy rating and set a $40.00 price objective for the company in a research report on Thursday, August 17th. FBR & Co reaffirmed a buy rating and set a $42.00 price objective on shares of National Oilwell Varco in a research report on Thursday, August 31st. Zacks Investment Research raised shares of National Oilwell Varco from a hold rating to a buy rating and set a $39.00 price objective for the company in a research report on Monday, October 9th. Finally, B. Riley reaffirmed a buy rating on shares of National Oilwell Varco in a research report on Wednesday, November 1st. Six 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 assigned a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $37.83.

National Oilwell Varco (NYSE NOV) traded up $0.51 on Wednesday, reaching $32.02. 2,838,565 shares of the company traded hands, compared to its average volume of 3,324,938. National Oilwell Varco has a 1-year low of $29.90 and a 1-year high of $43.63. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.75 and a quick ratio of 1.62.

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 net margin of 13.33% and a negative return on equity of 1.41%. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the business posted ($0.34) earnings per share. National Oilwell Varco’s revenue was up 11.5% compared to the same quarter last year. analysts anticipate that National Oilwell Varco will post -0.41 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, December 7th. National Oilwell Varco’s payout ratio is -8.06%.

Institutional investors have recently bought and sold shares of the business. IHT Wealth Management LLC boosted its holdings in shares of National Oilwell Varco by 1,923.1% during the 2nd quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock worth $112,000 after buying an additional 500 shares in the last quarter. Exane Derivatives boosted its holdings in shares of National Oilwell Varco by 113.8% during the 2nd quarter. Exane Derivatives now owns 3,985 shares of the oil and gas exploration company’s stock worth $131,000 after buying an additional 2,121 shares in the last quarter. IBM Retirement Fund bought a new position in shares of National Oilwell Varco during the 3rd quarter worth approximately $200,000. Wrapmanager Inc. bought a new position in shares of National Oilwell Varco during the 3rd quarter worth approximately $202,000. Finally, Chicago Partners Investment Group LLC bought a new position in shares of National Oilwell Varco during the 2nd quarter worth approximately $194,000. Hedge funds and other institutional investors own 90.16% of the company’s stock.

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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