Piper Jaffray Companies reissued their buy rating on shares of National-Oilwell Varco (NYSE:NOV) in a research report report published on Thursday, December 21st. Piper Jaffray Companies currently has a $34.00 target price on the oil and gas exploration company’s stock.
A number of other equities research analysts also recently commented on NOV. FBR & Co reaffirmed a buy rating and issued a $42.00 target price on shares of National-Oilwell Varco in a research report on Thursday, August 31st. Royal Bank of Canada reissued a hold rating on shares of National-Oilwell Varco in a research report on Friday, September 1st. ValuEngine raised shares of National-Oilwell Varco from a sell rating to a hold rating in a research report on Wednesday, September 20th. Citigroup boosted their price objective on shares of National-Oilwell Varco from $34.00 to $36.00 and gave the company a neutral rating in a research report on Thursday, October 5th. Finally, Jefferies Group set a $34.00 target price on shares of National-Oilwell Varco and gave the company a hold rating in a research note on Thursday, October 5th. Four equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $38.04.
National-Oilwell Varco (NOV) opened at $39.14 on Thursday. National-Oilwell Varco has a 1-year low of $29.90 and a 1-year high of $41.90. The stock has a market cap of $14,870.00, a P/E ratio of -15.78, a PEG ratio of 21.02 and a beta of 0.95. The company has a current ratio of 2.75, a quick ratio of 1.62 and a debt-to-equity ratio of 0.19.
National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. National-Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.34) earnings per share. sell-side analysts predict that National-Oilwell Varco will post -0.41 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Stockholders of record on Friday, December 8th were given a $0.05 dividend. The ex-dividend date was Thursday, December 7th. This represents a $0.20 annualized dividend and a dividend yield of 0.51%. National-Oilwell Varco’s payout ratio is presently -8.06%.
Institutional investors and hedge funds have recently made changes to their positions in the company. IHT Wealth Management LLC lifted its position in National-Oilwell Varco by 1,923.1% during the second quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock valued at $112,000 after acquiring an additional 500 shares during the last quarter. IBM Retirement Fund purchased a new stake in National-Oilwell Varco during the third quarter valued at approximately $200,000. Wrapmanager Inc. purchased a new stake in National-Oilwell Varco during the third quarter valued at approximately $202,000. Smith Salley & Associates purchased a new stake in National-Oilwell Varco during the third quarter valued at approximately $214,000. Finally, Advisor Partners LLC purchased a new stake in National-Oilwell Varco during the third quarter valued at approximately $227,000. 92.44% of the stock is owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION NOTICE: This piece of content was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece of content on another publication, it was stolen and reposted in violation of United States & international copyright and trademark laws. The correct version of this piece of content can be read at https://www.dispatchtribunal.com/2018/01/14/national-oilwell-varcos-nov-buy-rating-reaffirmed-at-piper-jaffray-companies.html.
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.
Receive News & Ratings for National-Oilwell Varco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National-Oilwell Varco and related companies with MarketBeat.com's FREE daily email newsletter.