Cowen and Company set a $30.00 price target on National Oilwell Varco, Inc. (NYSE:NOV) in a report published on Friday, October 6th. The brokerage currently has a hold rating on the oil and gas exploration company’s stock.
A number of other research analysts have also issued reports on the stock. Jefferies Group LLC set a $34.00 price target on shares of National Oilwell Varco and gave the stock a hold rating in a research note on Thursday, October 5th. Citigroup Inc. boosted their price target on shares of National Oilwell Varco from $34.00 to $36.00 and gave the stock a neutral rating in a research note on Thursday, October 5th. Piper Jaffray Companies reiterated a buy rating and set a $36.00 price target on shares of National Oilwell Varco in a research note on Tuesday, September 26th. ValuEngine upgraded shares of National Oilwell Varco from a sell rating to a hold rating in a research note on Wednesday, September 20th. Finally, Royal Bank Of Canada restated a hold rating on shares of National Oilwell Varco in a research report on Friday, September 1st. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. National Oilwell Varco has a consensus rating of Hold and a consensus target price of $38.61.
National Oilwell Varco (NYSE:NOV) traded up 0.09% during midday trading on Friday, hitting $34.95. The stock had a trading volume of 368,676 shares. National Oilwell Varco has a 12 month low of $29.90 and a 12 month high of $43.63. The stock’s market cap is $13.28 billion. The stock has a 50 day moving average of $33.94 and a 200 day moving average of $33.79.
National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.14). National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the business posted ($0.30) earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year. Analysts expect that National Oilwell Varco will post ($0.41) EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Thursday, September 14th. National Oilwell Varco’s dividend payout ratio is currently -3.31%.
A number of large investors have recently bought and sold shares of NOV. UBS Asset Management Americas Inc. raised its stake in National Oilwell Varco by 14.9% during the first quarter. UBS Asset Management Americas Inc. now owns 1,621,622 shares of the oil and gas exploration company’s stock worth $65,011,000 after purchasing an additional 210,281 shares during the period. Oxford Asset Management purchased a new position in National Oilwell Varco during the first quarter worth approximately $780,000. Pacer Advisors Inc. raised its stake in National Oilwell Varco by 3.4% during the first quarter. Pacer Advisors Inc. now owns 7,377 shares of the oil and gas exploration company’s stock worth $296,000 after purchasing an additional 240 shares during the period. JPMorgan Chase & Co. raised its stake in National Oilwell Varco by 54.5% during the first quarter. JPMorgan Chase & Co. now owns 334,550 shares of the oil and gas exploration company’s stock worth $13,413,000 after purchasing an additional 118,002 shares during the period. Finally, KBC Group NV raised its stake in National Oilwell Varco by 10.1% during the first quarter. KBC Group NV now owns 31,954 shares of the oil and gas exploration company’s stock worth $1,281,000 after purchasing an additional 2,923 shares during the period. 90.31% of the stock is currently owned by institutional investors.
About National Oilwell Varco
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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