Shares of National-Oilwell Varco, Inc. (NYSE:NOV) have received a consensus recommendation of “Hold” from the thirty-one brokerages that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation, twenty have issued a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $37.29.
Several brokerages have commented on NOV. Cowen set a $33.00 price objective on shares of National-Oilwell Varco and gave the stock a “hold” rating in a report on Thursday, January 11th. Susquehanna Bancshares set a $35.00 price objective on shares of National-Oilwell Varco and gave the stock a “hold” rating in a report on Friday, January 12th. Royal Bank of Canada restated a “hold” rating and issued a $40.00 price objective on shares of National-Oilwell Varco in a report on Friday. B. Riley set a $42.00 target price on shares of National-Oilwell Varco and gave the company a “buy” rating in a research note on Friday. Finally, ValuEngine raised shares of National-Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd.
Shares of National-Oilwell Varco (NYSE:NOV) traded up $0.07 on Tuesday, reaching $37.98. 4,587,999 shares of the company’s stock traded hands, compared to its average volume of 2,179,484. The company has a quick ratio of 1.62, a current ratio of 2.75 and a debt-to-equity ratio of 0.19. National-Oilwell Varco has a twelve month low of $29.90 and a twelve month high of $41.90. The stock has a market capitalization of $14,433.62, a price-to-earnings ratio of -15.25, a PEG ratio of 18.77 and a beta of 0.95.
National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. National-Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the business posted ($0.34) earnings per share. National-Oilwell Varco’s quarterly revenue was up 11.5% compared to the same quarter last year. analysts anticipate that National-Oilwell Varco will post -0.4 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Friday, December 8th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Thursday, December 7th. National-Oilwell Varco’s dividend payout ratio (DPR) is currently -8.03%.
Several institutional investors and hedge funds have recently made changes to their positions in NOV. IHT Wealth Management LLC increased its position in shares of 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 in the last quarter. Tiedemann Wealth Management LLC increased its position in shares of National-Oilwell Varco by 77.8% during the third quarter. Tiedemann Wealth Management LLC now owns 11,668 shares of the oil and gas exploration company’s stock valued at $194,000 after acquiring an additional 5,107 shares in the last quarter. IBM Retirement Fund bought a new stake in shares of National-Oilwell Varco during the third quarter valued at approximately $200,000. Wrapmanager Inc. bought a new stake in shares of National-Oilwell Varco during the third quarter valued at approximately $202,000. Finally, Smith Salley & Associates bought a new stake in shares of National-Oilwell Varco during the third quarter valued at approximately $214,000. 92.44% of the stock is owned by 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.
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