National-Oilwell Varco, Inc. (NYSE:NOV) – Equities research analysts at Seaport Global Securities lowered their Q4 2019 earnings estimates for shares of National-Oilwell Varco in a report released on Monday, according to Zacks Investment Research. Seaport Global Securities analyst S. Randhawa now forecasts that the oil and gas exploration company will post earnings of $0.32 per share for the quarter, down from their prior estimate of $0.33. Seaport Global Securities currently has a “Sell” rating and a $30.00 target price on the stock.
Other analysts have also issued reports about the company. B. Riley reaffirmed a “buy” rating on shares of National-Oilwell Varco in a research note on Wednesday, November 1st. SunTrust Banks raised National-Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Wednesday, November 29th. Barclays lowered their price target on National-Oilwell Varco from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, October 30th. ValuEngine raised National-Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Zacks Investment Research lowered National-Oilwell Varco from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Five research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. National-Oilwell Varco presently has an average rating of “Hold” and a consensus price target of $38.13.
Shares of National-Oilwell Varco (NOV) traded down $0.22 during trading hours on Tuesday, hitting $35.39. The stock had a trading volume of 2,227,390 shares, compared to its average volume of 3,413,113. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.07 and a quick ratio of 1.79. The firm has a market capitalization of $13,536.92, a price-to-earnings ratio of -56.48, a PEG ratio of 22.66 and a beta of 0.89. National-Oilwell Varco has a 12-month low of $29.90 and a 12-month high of $41.90.
National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.04). The firm had revenue of $1.97 billion for the quarter. National-Oilwell Varco had a negative return on equity of 1.10% and a negative net margin of 3.24%. During the same period in the prior year, the firm earned ($0.15) earnings per share.
Several institutional investors have recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of National-Oilwell Varco by 5.8% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 217,343 shares of the oil and gas exploration company’s stock valued at $7,829,000 after purchasing an additional 11,942 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in shares of National-Oilwell Varco by 32.0% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 29,694 shares of the oil and gas exploration company’s stock valued at $1,070,000 after purchasing an additional 7,200 shares during the last quarter. 683 Capital Management LLC lifted its stake in shares of National-Oilwell Varco by 22.9% in the 4th quarter. 683 Capital Management LLC now owns 295,000 shares of the oil and gas exploration company’s stock valued at $10,626,000 after purchasing an additional 55,000 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in shares of National-Oilwell Varco in the 4th quarter valued at $4,236,000. Finally, BB&T Securities LLC lifted its stake in shares of National-Oilwell Varco by 14.3% in the 4th quarter. BB&T Securities LLC now owns 26,706 shares of the oil and gas exploration company’s stock valued at $961,000 after purchasing an additional 3,337 shares during the last quarter. 91.10% of the stock is currently owned by institutional investors and hedge funds.
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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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