Piper Jaffray Companies Reaffirms Buy Rating for National-Oilwell Varco (NOV)

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.

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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.

Analyst Recommendations for National-Oilwell Varco (NYSE:NOV)

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