National-Oilwell Varco, Inc. (NYSE:NOV) – Stock analysts at Jefferies Group dropped their Q2 2018 earnings estimates for shares of National-Oilwell Varco in a 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 post earnings of ($0.03) per share for the quarter, down from their prior forecast of ($0.02). Jefferies Group currently has a “Hold” rating and a $35.00 price target on the stock. Jefferies Group also issued estimates for National-Oilwell Varco’s FY2020 earnings at $2.10 EPS.
Several other research analysts also recently weighed in on the stock. ValuEngine raised shares of National-Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. Piper Jaffray Companies reissued a “buy” rating and issued a $36.00 target price on shares of National-Oilwell Varco in a research report on Tuesday, September 26th. Citigroup boosted their price objective on shares of National-Oilwell Varco from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, October 5th. Cowen set a $30.00 price objective on shares of National-Oilwell Varco and gave the company a “hold” rating in a research report on Friday, October 6th. Finally, Royal Bank of Canada set a $37.00 price objective on shares of National-Oilwell Varco and gave the company a “hold” rating in a research report on Sunday, October 8th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $38.04.
National-Oilwell Varco (NYSE:NOV) last released its earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the firm earned ($0.34) EPS. The business’s revenue for the quarter was up 11.5% on a year-over-year basis.
A number of institutional investors have recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in National-Oilwell Varco by 0.8% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,025 shares of the oil and gas exploration company’s stock valued at $1,055,000 after buying an additional 246 shares during the period. Thrivent Financial For Lutherans increased its holdings in National-Oilwell Varco by 3.0% in the 2nd quarter. Thrivent Financial For Lutherans now owns 14,400 shares of the oil and gas exploration company’s stock valued at $474,000 after buying an additional 420 shares during the period. IHT Wealth Management LLC increased its holdings in National-Oilwell Varco by 1,923.1% in the 2nd quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock valued at $112,000 after buying an additional 500 shares during the period. Commerce Bank increased its holdings in National-Oilwell Varco by 8.1% in the 2nd quarter. Commerce Bank now owns 7,504 shares of the oil and gas exploration company’s stock valued at $247,000 after buying an additional 563 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in National-Oilwell Varco by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 7,996 shares of the oil and gas exploration company’s stock valued at $263,000 after buying an additional 619 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 8th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Thursday, December 7th. National-Oilwell Varco’s dividend payout ratio (DPR) is presently -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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