National Oilwell Varco (NYSE:NOV) traded down 5.7% on Tuesday . The company traded as low as $32.40 and last traded at $32.48, with a volume of 1,690,246 shares. The stock had previously closed at $34.44.

A number of research analysts have recently commented on the company. Vetr raised National Oilwell Varco from a “buy” rating to a “strong-buy” rating and set a $37.96 price objective on the stock in a report on Wednesday, June 15th. Societe Generale lowered National Oilwell Varco from a “hold” rating to a “sell” rating and set a $31.00 price objective on the stock. in a report on Wednesday, May 4th. Howard Weil raised their target price on National Oilwell Varco from $32.00 to $37.00 and gave the company a “sector perform” rating in a report on Wednesday, June 15th. Cowen and Company raised their target price on National Oilwell Varco from $25.00 to $28.00 and gave the company a “market perform” rating in a report on Friday, April 29th. Finally, Royal Bank Of Canada raised their target price on National Oilwell Varco from $30.00 to $35.00 and gave the company a “sector perform” rating in a report on Friday, April 29th. Five research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $35.31.

The firm’s market capitalization is $12.18 billion. The stock’s 50-day moving average price is $33.55 and its 200-day moving average price is $31.55.

National Oilwell Varco (NYSE:NOV) last issued its earnings results on Thursday, April 28th. The oil and gas exploration company reported ($0.06) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.04. The business earned $2.19 billion during the quarter, compared to analyst estimates of $335.85 million. During the same period in the prior year, the business posted $1.14 EPS. The company’s revenue for the quarter was down 54.6% compared to the same quarter last year. Equities analysts predict that National Oilwell Varco will post ($0.98) EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Friday, June 10th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Wednesday, June 8th.

Several large investors have modified their holdings of NOV. Korea Investment CORP increased its stake in shares of National Oilwell Varco by 89.8% in the fourth quarter. Korea Investment CORP now owns 81,600 shares of the oil and gas exploration company’s stock worth $2,732,000 after buying an additional 38,600 shares in the last quarter. World Asset Management Inc increased its stake in shares of National Oilwell Varco by 0.6% in the fourth quarter. World Asset Management Inc now owns 43,551 shares of the oil and gas exploration company’s stock worth $1,458,000 after buying an additional 253 shares in the last quarter. Swiss National Bank increased its stake in shares of National Oilwell Varco by 0.6% in the fourth quarter. Swiss National Bank now owns 696,447 shares of the oil and gas exploration company’s stock worth $23,324,000 after buying an additional 4,400 shares in the last quarter. First Trust Advisors LP increased its stake in shares of National Oilwell Varco by 11.4% in the fourth quarter. First Trust Advisors LP now owns 808,839 shares of the oil and gas exploration company’s stock worth $27,088,000 after buying an additional 82,585 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of National Oilwell Varco by 1.7% in the fourth quarter. Rhumbline Advisers now owns 605,739 shares of the oil and gas exploration company’s stock worth $20,286,000 after buying an additional 10,042 shares in the last quarter.

National Oilwell Varco, Inc (NOV) is engaged in providing design, manufacture and sale of equipment and components used in oil and gas drilling, completion and production operations. The Company also provides oilfield services to the upstream oil and gas industry. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies, and Completion & Production Solutions.

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