National-Oilwell Varco, Inc. (NYSE:NOV) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday. The firm presently has a $44.47 price objective on the oil and gas exploration company’s stock. Vetr‘s price objective points to a potential upside of 13.41% from the stock’s current price.
NOV has been the subject of a number of other research reports. SunTrust Banks, Inc. assumed coverage on shares of National-Oilwell Varco in a report on Wednesday, January 18th. They issued a “hold” rating and a $40.00 price target for the company. Zacks Investment Research raised shares of National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Friday, February 10th. Societe Generale raised shares of National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Thursday, January 19th. BMO Capital Markets set a $30.00 price target on shares of National-Oilwell Varco and gave the company a “sell” rating in a report on Thursday, January 12th. Finally, Guggenheim lowered shares of National-Oilwell Varco from a “buy” rating to a “neutral” rating in a report on Tuesday, December 6th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. National-Oilwell Varco currently has an average rating of “Hold” and a consensus target price of $37.89.
Shares of National-Oilwell Varco (NYSE:NOV) traded down 0.25% during mid-day trading on Monday, reaching $39.21. 2,009,005 shares of the company’s stock traded hands. National-Oilwell Varco has a 52 week low of $26.86 and a 52 week high of $43.63. The firm’s market cap is $14.85 billion. The company’s 50 day moving average is $39.19 and its 200-day moving average is $36.95.
National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings results on Monday, February 6th. The oil and gas exploration company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.14. The business earned $1.69 billion during the quarter, compared to analyst estimates of $1.62 billion. National-Oilwell Varco had a negative net margin of 33.26% and a negative return on equity of 2.08%. National-Oilwell Varco’s revenue for the quarter was down 37.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 earnings per share. Equities analysts expect that National-Oilwell Varco will post ($0.36) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be given a $0.05 dividend. The ex-dividend date is Wednesday, March 15th. This represents a $0.20 annualized dividend and a yield of 0.51%. National-Oilwell Varco’s dividend payout ratio is currently -3.12%.
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In related news, insider Joseph W. Rovig sold 49,825 shares of the business’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $41.48, for a total value of $2,066,741.00. Following the sale, the insider now directly owns 91 shares of the company’s stock, valued at approximately $3,774.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Scott K. Duff sold 37,369 shares of the business’s stock in a transaction on Friday, February 24th. The shares were 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 directly owns 30,559 shares in the company, valued at $1,218,387.33. The disclosure for this sale can be found here. Insiders sold a total of 91,979 shares of company stock worth $3,751,823 over the last ninety days. 0.17% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the stock. Dodge & Cox bought a new stake in National-Oilwell Varco during the fourth quarter valued at approximately $1,171,647,000. Norges Bank bought a new stake in National-Oilwell Varco during the fourth quarter valued at approximately $132,512,000. Parnassus Investments CA boosted its stake in National-Oilwell Varco by 20.2% in the third quarter. Parnassus Investments CA now owns 14,062,198 shares of the oil and gas exploration company’s stock valued at $516,645,000 after buying an additional 2,366,764 shares in the last quarter. Harris Associates L P boosted its stake in National-Oilwell Varco by 12.2% in the third quarter. Harris Associates L P now owns 15,538,489 shares of the oil and gas exploration company’s stock valued at $570,884,000 after buying an additional 1,691,653 shares in the last quarter. Finally, APG Asset Management N.V. boosted its stake in National-Oilwell Varco by 285.0% in the third quarter. APG Asset Management N.V. now owns 1,722,442 shares of the oil and gas exploration company’s stock valued at $63,283,000 after buying an additional 1,275,030 shares in the last quarter. 94.98% of the stock is currently 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.
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