National Oilwell Varco’s (NOV) Hold Rating Reiterated at RBC Capital Markets

RBC Capital Markets reiterated their hold rating on shares of National Oilwell Varco, Inc. (NYSE:NOV) in a research note issued to investors on Friday. RBC Capital Markets currently has a $47.00 target price on the oil and gas exploration company’s stock.

Other research analysts also recently issued reports about the company. Johnson Rice downgraded National Oilwell Varco from a buy rating to a hold rating in a report on Friday, December 9th. Societe Generale upgraded National Oilwell Varco from a sell rating to a hold rating and boosted their price target for the company from $32.10 to $35.00 in a report on Monday, October 31st. Zacks Investment Research downgraded National Oilwell Varco from a buy rating to a hold rating in a report on Tuesday, October 18th. Jefferies Group reiterated a hold rating on shares of National Oilwell Varco in a report on Wednesday, November 16th. Finally, Citigroup Inc. upgraded National Oilwell Varco from a sell rating to a neutral rating and boosted their price target for the company from $30.00 to $33.00 in a report on Monday, November 7th. Four equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have given a buy rating to the company’s stock. National Oilwell Varco has a consensus rating of Hold and an average target price of $34.11.

Analyst Recommendations for National Oilwell Varco (NYSE:NOV)

National Oilwell Varco (NYSE:NOV) traded up 1.69% on Friday, reaching $38.40. The company had a trading volume of 393,463 shares. National Oilwell Varco has a 52-week low of $25.74 and a 52-week high of $43.63. The firm’s market capitalization is $14.50 billion. The stock’s 50-day moving average price is $38.26 and its 200 day moving average price is $35.07.

National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings results on Thursday, October 27th. The oil and gas exploration company reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by $0.06. The business earned $1.65 billion during the quarter, compared to analyst estimates of $1.68 billion. National Oilwell Varco had a negative net margin of 38.90% and a negative return on equity of 0.71%. The company’s revenue was down 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 earnings per share. On average, equities analysts anticipate that National Oilwell Varco will post ($1.00) earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Friday, December 2nd were given a $0.05 dividend. The ex-dividend date was Wednesday, November 30th. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. National Oilwell Varco’s payout ratio is currently -2.33%.

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in National Oilwell Varco by 21.7% in the second quarter. Vanguard Group Inc. now owns 35,511,716 shares of the oil and gas exploration company’s stock worth $1,194,969,000 after buying an additional 6,330,248 shares during the last quarter. Dodge & Cox boosted its position in National Oilwell Varco by 19.8% in the second quarter. Dodge & Cox now owns 31,881,470 shares of the oil and gas exploration company’s stock worth $1,072,811,000 after buying an additional 5,258,750 shares during the last quarter. Harris Associates L P boosted its position 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 worth $570,884,000 after buying an additional 1,691,653 shares during the last quarter. Parnassus Investments CA boosted its position 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 worth $516,645,000 after buying an additional 2,366,764 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in National Oilwell Varco by 1.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 9,880,107 shares of the oil and gas exploration company’s stock worth $362,995,000 after buying an additional 147,005 shares during the last quarter. 92.19% of the stock is owned by institutional investors.

About National Oilwell Varco

National Oilwell Varco, Inc (NOV) is engaged in providing design, manufacture and sale of equipment and components used in oil and gas drilling, completion and production operations. The Company operates through four segments: Rig Systems, which makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore; Rig Aftermarket, which provides aftermarket products and services to support land and offshore rigs, and drilling rig components manufactured by the Company’s Rig Systems segment; Wellbore Technologies, which sells and rents solids control equipment, and provides solids control, waste management and drilling fluids services, and Completion & Production Solutions, which provides technologies for well completions and oil and gas production.

5 Day Chart for NYSE:NOV

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