National Oilwell Varco (NYSE:NOV) was downgraded by investment analysts at Societe Generale from a “buy” rating to a “hold” rating in a research report issued on Thursday, The Fly reports.
NOV has been the subject of a number of other research reports. Royal Bank of Canada reiterated a “hold” rating and set a $40.00 price objective on shares of National Oilwell Varco in a research note on Friday, January 19th. TheStreet upgraded National Oilwell Varco from a “d+” rating to a “c” rating in a research note on Tuesday, February 6th. Cowen set a $33.00 price objective on National Oilwell Varco and gave the company a “hold” rating in a research note on Thursday, January 11th. Piper Jaffray reiterated a “buy” rating and set a $34.00 price objective on shares of National Oilwell Varco in a research note on Thursday, December 21st. Finally, Zacks Investment Research upgraded National Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Tuesday, March 13th. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating and four have issued a buy rating to the company’s stock. National Oilwell Varco presently has an average rating of “Hold” and an average target price of $36.38.
Shares of NOV opened at $38.32 on Thursday. National Oilwell Varco has a one year low of $29.90 and a one year high of $41.38. The company has a quick ratio of 1.79, a current ratio of 3.07 and a debt-to-equity ratio of 0.19. The stock has a market cap of $14,289.60, a price-to-earnings ratio of -91.24, a PEG ratio of 26.03 and a beta of 0.80.
National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.04). National Oilwell Varco had a negative return on equity of 1.10% and a negative net margin of 3.24%. The company had revenue of $1.97 billion during the quarter. During the same period in the prior year, the firm posted ($0.15) EPS. equities research analysts expect that National Oilwell Varco will post 0.24 earnings per share for the current year.
In related news, VP Scott K. Duff sold 7,421 shares of National Oilwell Varco stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $35.66, for a total value of $264,632.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.79% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Dupont Capital Management Corp purchased a new stake in National Oilwell Varco during the 4th quarter worth approximately $141,000. Global Trust Asset Management LLC purchased a new stake in National Oilwell Varco during the 4th quarter worth approximately $160,000. CoreCommodity Management LLC purchased a new stake in National Oilwell Varco during the 4th quarter worth approximately $162,000. Avestar Capital LLC purchased a new stake in National Oilwell Varco during the 4th quarter worth approximately $176,000. Finally, Cadence Bank NA purchased a new stake in National Oilwell Varco during the 4th quarter worth approximately $201,000. Institutional investors own 93.51% of the company’s stock.
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About National Oilwell Varco
National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.
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