National-Oilwell Varco, Inc. (NOV) Upgraded at Vetr Inc.

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.

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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.

5 Day Chart for NYSE:NOV

To view Vetr’s full report, visit Vetr’s official website.

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