Wall Street brokerages forecast that National Oilwell Varco (NYSE:NOV) will report $0.02 earnings per share (EPS) for the current quarter, according to Zacks. Eleven analysts have made estimates for National Oilwell Varco’s earnings. The lowest EPS estimate is $0.00 and the highest is $0.05. National Oilwell Varco reported earnings of ($0.14) per share in the same quarter last year, which indicates a positive year over year growth rate of 114.3%. The firm is expected to report its next earnings results after the market closes on Thursday, July 26th.
According to Zacks, analysts expect that National Oilwell Varco will report full-year earnings of $0.10 per share for the current fiscal year, with EPS estimates ranging from ($0.15) to $0.26. For the next financial year, analysts expect that the company will post earnings of $1.10 per share, with EPS estimates ranging from $0.30 to $1.51. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow National Oilwell Varco.
National Oilwell Varco (NYSE:NOV) last announced its earnings results on Thursday, April 26th. The oil and gas exploration company reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.13). National Oilwell Varco had a negative return on equity of 1.15% and a negative net margin of 2.49%. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.81 billion.
A number of analysts have recently issued reports on the company. SunTrust Banks set a $31.00 target price on National Oilwell Varco and gave the stock a “hold” rating in a research report on Monday, April 16th. Cowen lifted their target price on National Oilwell Varco from $33.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. TheStreet raised National Oilwell Varco from a “d+” rating to a “c” rating in a research report on Tuesday, February 6th. Zacks Investment Research raised National Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Tuesday, March 13th. Finally, Seaport Global Securities reaffirmed a “sell” rating and set a $30.00 target price on shares of National Oilwell Varco in a research report on Monday, February 12th. Four equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have assigned a buy rating to the company’s stock. National Oilwell Varco presently has an average rating of “Hold” and a consensus target price of $37.22.
Shares of National Oilwell Varco opened at $43.69 on Wednesday, according to Marketbeat Ratings. National Oilwell Varco has a 1 year low of $29.90 and a 1 year high of $45.08. The stock has a market cap of $16.59 billion, a PE ratio of -104.02, a price-to-earnings-growth ratio of 71.89 and a beta of 0.81. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.89 and a current ratio of 3.37.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Thursday, June 14th. National Oilwell Varco’s dividend payout ratio (DPR) is presently -47.62%.
In other news, VP Craig L. Weinstock sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $44.03, for a total transaction of $220,150.00. Following the completion of the transaction, the vice president now directly owns 46,372 shares of the company’s stock, valued at $2,041,759.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott K. Duff sold 7,421 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $35.66, for a total value of $264,632.86. The disclosure for this sale can be found here. Insiders have sold 52,880 shares of company stock valued at $2,144,411 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Commerzbank Aktiengesellschaft FI grew its holdings in shares of National Oilwell Varco by 5.9% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 26,389 shares of the oil and gas exploration company’s stock valued at $971,000 after purchasing an additional 1,463 shares during the last quarter. S&CO Inc. grew its holdings in shares of National Oilwell Varco by 3.6% during the first quarter. S&CO Inc. now owns 43,973 shares of the oil and gas exploration company’s stock valued at $1,619,000 after purchasing an additional 1,524 shares during the last quarter. Iowa State Bank boosted its position in shares of National Oilwell Varco by 9.4% during the first quarter. Iowa State Bank now owns 18,546 shares of the oil and gas exploration company’s stock worth $683,000 after buying an additional 1,589 shares during the period. High Pointe Capital Management LLC boosted its position in shares of National Oilwell Varco by 6.8% during the first quarter. High Pointe Capital Management LLC now owns 29,340 shares of the oil and gas exploration company’s stock worth $1,080,000 after buying an additional 1,860 shares during the period. Finally, Pendal Group Ltd boosted its position in shares of National Oilwell Varco by 8.2% during the first quarter. Pendal Group Ltd now owns 24,862 shares of the oil and gas exploration company’s stock worth $915,000 after buying an additional 1,881 shares during the period. 94.00% of the stock is owned by institutional investors.
About National Oilwell Varco
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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