National-Oilwell Varco, Inc. (NYSE:NOV) – Stock analysts at Jefferies Group lowered their Q3 2018 earnings per share (EPS) estimates for shares of National-Oilwell Varco in a research note issued to investors on Thursday, Zacks Investment Research reports. Jefferies Group analyst B. Handler now anticipates that the oil and gas exploration company will earn $0.02 per share for the quarter, down from their prior estimate of $0.04. Jefferies Group currently has a “Hold” rating and a $35.00 target price on the stock. Jefferies Group also issued estimates for National-Oilwell Varco’s Q4 2018 earnings at $0.10 EPS and FY2018 earnings at $0.05 EPS.
National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. National-Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the business posted ($0.34) EPS. National-Oilwell Varco’s quarterly revenue was up 11.5% on a year-over-year basis.
Several other equities analysts also recently weighed in on NOV. B. Riley reissued a “buy” rating on shares of National-Oilwell Varco in a research report on Wednesday, November 1st. Cowen set a $33.00 price target on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Thursday. Susquehanna Bancshares set a $35.00 price target on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Friday. Piper Jaffray Companies reissued a “buy” rating and set a $36.00 price target on shares of National-Oilwell Varco in a research report on Tuesday, September 26th. Finally, JPMorgan Chase & Co. dropped their price target on National-Oilwell Varco from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, October 30th. Four equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. National-Oilwell Varco currently has a consensus rating of “Hold” and an average target price of $38.04.
National-Oilwell Varco (NOV) opened at $39.14 on Friday. The company has a quick ratio of 1.62, a current ratio of 2.75 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $14,760.45, a P/E ratio of -15.72, a P/E/G ratio of 21.02 and a beta of 0.95. National-Oilwell Varco has a one year low of $29.90 and a one year high of $41.90.
Institutional investors have recently modified their holdings of the stock. HAP Trading LLC boosted its holdings in National-Oilwell Varco by 281.5% in the second quarter. HAP Trading LLC now owns 21,957 shares of the oil and gas exploration company’s stock valued at $723,000 after acquiring an additional 34,057 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its holdings in National-Oilwell Varco by 1.2% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 481,830 shares of the oil and gas exploration company’s stock valued at $17,216,000 after acquiring an additional 5,641 shares during the last quarter. California Public Employees Retirement System boosted its holdings in National-Oilwell Varco by 4.7% in the third quarter. California Public Employees Retirement System now owns 1,211,321 shares of the oil and gas exploration company’s stock valued at $43,280,000 after acquiring an additional 54,039 shares during the last quarter. Swiss National Bank boosted its holdings in National-Oilwell Varco by 1.4% in the third quarter. Swiss National Bank now owns 1,399,047 shares of the oil and gas exploration company’s stock valued at $49,988,000 after acquiring an additional 19,100 shares during the last quarter. Finally, Glenview Trust Co boosted its holdings in National-Oilwell Varco by 4.0% in the second quarter. Glenview Trust Co now owns 245,030 shares of the oil and gas exploration company’s stock valued at $8,071,000 after acquiring an additional 9,382 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Friday, December 8th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Thursday, December 7th. National-Oilwell Varco’s payout ratio is currently -8.03%.
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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.
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