National-Oilwell Varco (NOV) Given “Hold” Rating at Cowen

Cowen reiterated their hold rating on shares of National-Oilwell Varco (NYSE:NOV) in a report released on Friday. Cowen currently has a $45.00 price target on the oil and gas exploration company’s stock.

Other equities research analysts also recently issued research reports about the company. Raymond James raised their price target on National-Oilwell Varco from $50.00 to $55.00 and gave the stock a buy rating in a report on Monday, July 30th. Piper Jaffray Companies reissued a buy rating and issued a $53.00 price target on shares of National-Oilwell Varco in a report on Monday, August 6th. R. F. Lafferty raised National-Oilwell Varco from a hold rating to a buy rating and raised their price target for the stock from $41.00 to $51.00 in a report on Tuesday, August 21st. Stifel Nicolaus started coverage on National-Oilwell Varco in a report on Monday, September 10th. They issued a buy rating and a $54.00 price target for the company. Finally, Johnson Rice raised National-Oilwell Varco from a hold rating to a buy rating and set a $55.00 price target for the company in a report on Tuesday, October 2nd. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $44.32.

NOV stock traded up $0.01 during trading on Friday, reaching $41.91. 3,157,276 shares of the company traded hands, compared to its average volume of 3,132,769. National-Oilwell Varco has a 12 month low of $31.47 and a 12 month high of $49.08. The company has a market cap of $16.48 billion, a P/E ratio of -99.79, a PEG ratio of 46.67 and a beta of 0.93. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.19 and a quick ratio of 1.75.

National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings results on Thursday, July 26th. The oil and gas exploration company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2 billion. National-Oilwell Varco had a negative return on equity of 0.60% and a negative net margin of 1.09%. The company’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.14) earnings per share. On average, analysts anticipate that National-Oilwell Varco will post 0.15 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Thursday, September 13th. National-Oilwell Varco’s payout ratio is -47.62%.

In other news, Chairman Clay C. Williams sold 465,116 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $47.91, for a total value of $22,283,707.56. Following the completion of the transaction, the chairman now directly owns 811,642 shares in the company, valued at $38,885,768.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Craig L. Weinstock sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $47.45, for a total value of $1,186,250.00. Following the completion of the transaction, the vice president now owns 67,663 shares of the company’s stock, valued at $3,210,609.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 514,559 shares of company stock valued at $24,588,009. Company insiders own 0.79% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Quad Cities Investment Group LLC purchased a new position in National-Oilwell Varco during the second quarter valued at approximately $104,000. Whittier Trust Co. raised its position in National-Oilwell Varco by 180.6% during the second quarter. Whittier Trust Co. now owns 2,455 shares of the oil and gas exploration company’s stock valued at $202,000 after acquiring an additional 1,580 shares in the last quarter. Cerebellum GP LLC purchased a new position in National-Oilwell Varco during the third quarter valued at approximately $163,000. Vanguard Capital Wealth Advisors purchased a new position in National-Oilwell Varco during the second quarter valued at approximately $295,000. Finally, Piedmont Investment Advisors LLC purchased a new position in National-Oilwell Varco during the second quarter valued at approximately $194,000. Institutional investors own 95.63% of the company’s stock.

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

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