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.
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