Vetr upgraded shares of National-Oilwell Varco, Inc. (NYSE:NOV) from a buy rating to a strong-buy rating in a research note released on Monday. They currently have $44.47 price target on the oil and gas exploration company’s stock.
A number of other analysts also recently issued reports on the company. Argus raised National-Oilwell Varco from a hold rating to a buy rating and set a $51.00 price objective on the stock in a research note on Friday, March 3rd. Zacks Investment Research downgraded National-Oilwell Varco from a buy rating to a hold rating in a research report on Monday, February 20th. FBR & Co boosted their target price on National-Oilwell Varco from $38.00 to $48.00 and gave the company an outperform rating in a research report on Thursday, February 16th. Piper Jaffray Companies set a $36.00 target price on National-Oilwell Varco and gave the company a hold rating in a research report on Wednesday, February 8th. Finally, Scotiabank restated a hold rating and set a $37.00 price objective on shares of National-Oilwell Varco in a report on Wednesday, February 8th. Three research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have issued a buy rating to the company’s stock. National-Oilwell Varco currently has a consensus rating of Hold and an average target price of $37.89.
National-Oilwell Varco (NYSE:NOV) opened at 38.89 on Monday. The company has a 50 day moving average of $39.28 and a 200-day moving average of $37.11. The stock’s market capitalization is $14.73 billion. National-Oilwell Varco has a one year low of $26.86 and a one year high of $43.63.
National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Monday, February 6th. The oil and gas exploration company reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.14. National-Oilwell Varco had a negative return on equity of 2.08% and a negative net margin of 33.26%. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the company posted $0.23 EPS. The company’s revenue was down 37.8% compared to the same quarter last year. Equities research analysts predict that National-Oilwell Varco will post ($0.39) earnings per share for the current fiscal year.
WARNING: This piece was originally posted by BBNS and is owned by of BBNS. If you are accessing this piece on another site, it was stolen and republished in violation of international copyright & trademark laws. The legal version of this piece can be viewed at https://baseballnewssource.com/markets/national-oilwell-varco-inc-nov-lifted-to-strong-buy-at-vetr-inc-updated/518076.html.
The business also recently declared a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, March 17th were issued a $0.05 dividend. The ex-dividend date was Wednesday, March 15th. This represents a $0.20 annualized dividend and a dividend yield of 0.51%. National-Oilwell Varco’s dividend payout ratio is presently -3.12%.
In other National-Oilwell Varco news, VP Scott K. Duff sold 37,369 shares of the firm’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $39.87, for a total transaction of $1,489,902.03. Following the completion of the sale, the vice president now owns 30,559 shares of the company’s stock, valued at $1,218,387.33. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Scott K. Duff sold 4,785 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $40.79, for a total value of $195,180.15. Following the sale, the vice president now directly owns 25,121 shares of the company’s stock, valued at approximately $1,024,685.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,979 shares of company stock valued at $3,751,823. Insiders own 0.17% of the company’s stock.
Several large investors have recently modified their holdings of NOV. Forte Capital LLC ADV boosted its stake in shares of National-Oilwell Varco by 16.5% in the third quarter. Forte Capital LLC ADV now owns 12,019 shares of the oil and gas exploration company’s stock worth $442,000 after buying an additional 1,700 shares during the last quarter. Dalton Greiner Hartman Maher & Co. purchased a new stake in shares of National-Oilwell Varco during the third quarter worth $12,393,000. Canandaigua National Bank & Trust Co. purchased a new stake in shares of National-Oilwell Varco during the third quarter worth $246,000. Capstone Asset Management Co. boosted its stake in shares of National-Oilwell Varco by 0.8% in the third quarter. Capstone Asset Management Co. now owns 58,520 shares of the oil and gas exploration company’s stock worth $2,150,000 after buying an additional 490 shares during the last quarter. Finally, Atria Investments LLC boosted its stake in shares of National-Oilwell Varco by 56.6% in the third quarter. Atria Investments LLC now owns 28,700 shares of the oil and gas exploration company’s stock worth $1,054,000 after buying an additional 10,374 shares during the last quarter. 94.98% of the stock is owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for National-Oilwell Varco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National-Oilwell Varco Inc. and related companies with our FREE daily email newsletter.