National Oilwell Varco, Inc. (NOV) Earns Buy Rating from FBR & Co

FBR & Co reiterated their buy rating on shares of National Oilwell Varco, Inc. (NYSE:NOV) in a report released on Monday morning.

Other research analysts have also issued research reports about the company. Piper Jaffray Companies set a $37.00 price target on National Oilwell Varco and gave the stock a buy rating in a report on Thursday, July 27th. Loop Capital upgraded National Oilwell Varco from a hold rating to a buy rating and set a $40.00 price target on the stock in a report on Thursday, August 17th. Zacks Investment Research upgraded National Oilwell Varco from a hold rating to a buy rating and set a $39.00 price target on the stock in a report on Monday, October 9th. Credit Suisse Group set a $35.00 price target on National Oilwell Varco and gave the stock a hold rating in a report on Saturday, July 29th. Finally, Scotiabank set a $37.00 price target on National Oilwell Varco and gave the stock a hold rating in a report on Friday, July 28th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. National Oilwell Varco has an average rating of Hold and a consensus price target of $38.61.

National Oilwell Varco (NYSE:NOV) opened at 34.08 on Monday. The company’s market cap is $12.95 billion. National Oilwell Varco has a 52-week low of $29.90 and a 52-week high of $43.63. The firm’s 50-day moving average is $34.32 and its 200-day moving average is $33.72.

National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). National Oilwell Varco had a negative return on equity of 2.12% and a negative net margin of 33.24%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the firm earned ($0.30) EPS. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts anticipate that National Oilwell Varco will post ($0.41) EPS for the current year.

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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Thursday, September 14th. National Oilwell Varco’s dividend payout ratio is presently -3.31%.

Several institutional investors have recently made changes to their positions in the company. Osborn Williams & Donohoe LLC grew its position in shares of National Oilwell Varco by 44.9% during the third quarter. Osborn Williams & Donohoe LLC now owns 51,751 shares of the oil and gas exploration company’s stock worth $1,849,000 after buying an additional 16,024 shares in the last quarter. Fulton Bank N.A. acquired a new position in shares of National Oilwell Varco during the third quarter worth about $241,000. Park National Corp OH grew its position in shares of National Oilwell Varco by 25.2% during the third quarter. Park National Corp OH now owns 27,230 shares of the oil and gas exploration company’s stock worth $973,000 after buying an additional 5,473 shares in the last quarter. Intl Fcstone Inc. acquired a new position in shares of National Oilwell Varco during the second quarter worth about $392,000. Finally, Lord Abbett & CO. LLC grew its position in shares of National Oilwell Varco by 1.8% during the second quarter. Lord Abbett & CO. LLC now owns 202,000 shares of the oil and gas exploration company’s stock worth $6,654,000 after buying an additional 3,500 shares in the last quarter. 90.31% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for National Oilwell Varco (NYSE:NOV)

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