National Oilwell Varco (NYSE:NOV) Receiving Somewhat Favorable Press Coverage, Analysis Shows

News coverage about National Oilwell Varco (NYSE:NOV) has trended somewhat positive this week, according to Accern. The research group identifies negative and positive media coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. National Oilwell Varco earned a news sentiment score of 0.14 on Accern’s scale. Accern also assigned media stories about the oil and gas exploration company an impact score of 46.4031396621844 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.

These are some of the news articles that may have impacted Accern Sentiment’s scoring:

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Shares of NYSE:NOV traded up $0.73 on Wednesday, reaching $38.32. The company’s stock had a trading volume of 4,968,972 shares, compared to its average volume of 3,348,546. The stock has a market capitalization of $14,437.86, a price-to-earnings ratio of -91.24, a PEG ratio of 25.32 and a beta of 0.80. National Oilwell Varco has a 52-week low of $29.90 and a 52-week high of $41.38. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.79 and a current ratio of 3.07.

National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). The firm had revenue of $1.97 billion during the quarter. National Oilwell Varco had a negative net margin of 3.24% and a negative return on equity of 1.10%. During the same period in the prior year, the company earned ($0.15) earnings per share. research analysts forecast that National Oilwell Varco will post 0.25 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 16th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, March 15th. This represents a $0.20 annualized dividend and a yield of 0.52%. National Oilwell Varco’s dividend payout ratio is currently -47.62%.

A number of analysts have issued reports on NOV shares. Royal Bank of Canada reissued a “hold” rating and issued a $40.00 target price on shares of National Oilwell Varco in a research report on Friday, January 19th. TheStreet raised National Oilwell Varco from a “d+” rating to a “c” rating in a research report on Tuesday, February 6th. Cowen set a $33.00 target price on National Oilwell Varco and gave the company a “hold” rating in a research report on Thursday, January 11th. Piper Jaffray reaffirmed a “buy” rating and set a $34.00 price objective on shares of National Oilwell Varco in a research report on Thursday, December 21st. Finally, Zacks Investment Research raised National Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Tuesday, March 13th. Four equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $36.38.

In related news, VP Scott K. Duff sold 7,421 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $35.66, for a total transaction of $264,632.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.79% of the company’s stock.

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National Oilwell Varco Company Profile

National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

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