National-Oilwell Varco, Inc. (NYSE:NOV) has received an average recommendation of “Hold” from the thirty-two brokerages that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a sell rating, twenty have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $37.24.
NOV has been the topic of a number of recent research reports. Zacks Investment Research raised National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Monday, October 9th. FBR & Co reissued a “buy” rating on shares of National-Oilwell Varco in a report on Monday, October 16th. Piper Jaffray Companies reissued a “buy” rating and issued a $36.00 target price on shares of National-Oilwell Varco in a report on Tuesday, September 26th. B. Riley reissued a “buy” rating on shares of National-Oilwell Varco in a report on Wednesday, November 1st. Finally, Capital One Financial reissued an “equal weight” rating on shares of National-Oilwell Varco in a report on Friday, October 27th.
Several large investors have recently added to or reduced their stakes in NOV. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of National-Oilwell Varco during the third quarter worth about $226,421,000. Harris Associates L P grew its position in shares of National-Oilwell Varco by 16.0% during the second quarter. Harris Associates L P now owns 18,574,753 shares of the oil and gas exploration company’s stock worth $611,852,000 after purchasing an additional 2,557,484 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of National-Oilwell Varco by 459.0% during the second quarter. The Manufacturers Life Insurance Company now owns 2,639,603 shares of the oil and gas exploration company’s stock worth $86,948,000 after purchasing an additional 2,167,397 shares in the last quarter. Vanguard Group Inc. grew its position in shares of National-Oilwell Varco by 2.5% during the second quarter. Vanguard Group Inc. now owns 38,794,232 shares of the oil and gas exploration company’s stock worth $1,277,882,000 after purchasing an additional 930,849 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of National-Oilwell Varco by 17.1% during the third quarter. Wells Fargo & Company MN now owns 5,248,794 shares of the oil and gas exploration company’s stock worth $187,541,000 after purchasing an additional 765,634 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.
Shares of National-Oilwell Varco (NYSE NOV) traded up $0.30 during trading hours on Tuesday, hitting $39.14. The stock had a trading volume of 2,531,000 shares, compared to its average volume of 2,603,311. The company has a market capitalization of $14,870.00, a P/E ratio of -15.78, a P/E/G ratio of 21.18 and a beta of 0.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.62 and a current ratio of 2.75. National-Oilwell Varco has a 1 year low of $29.90 and a 1 year high of $41.90.
National-Oilwell Varco (NYSE:NOV) last posted its earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. National-Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the company earned ($0.34) earnings per share. National-Oilwell Varco’s revenue was up 11.5% on a year-over-year basis. sell-side analysts expect that National-Oilwell Varco will post -0.41 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 8th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Thursday, December 7th. National-Oilwell Varco’s payout ratio is -8.06%.
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.
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