National Oilwell Varco (NYSE:NOV)’s share price fell 1.3% during mid-day trading on Monday . The company traded as low as $32.17 and last traded at $32.18, with a volume of 1,510,411 shares changing hands. The stock had previously closed at $32.59.

A number of brokerages recently issued reports on NOV. Jefferies Group reiterated a “hold” rating and issued a $33.00 target price (up previously from $30.00) on shares of National Oilwell Varco in a research report on Monday. Vetr upgraded shares of National Oilwell Varco from a “buy” rating to a “strong-buy” rating and set a $32.36 target price for the company in a research report on Wednesday, April 20th. Societe Generale lowered shares of National Oilwell Varco from a “hold” rating to a “sell” rating and set a $31.00 target price for the company. in a research report on Wednesday, May 4th. Howard Weil upped their price target on shares of National Oilwell Varco from $32.00 to $37.00 and gave the company a “sector perform” rating in a report on Wednesday, June 15th. Finally, Cowen and Company upped their price target on shares of National Oilwell Varco from $25.00 to $28.00 and gave the company a “market perform” rating in a report on Friday, April 29th. Five equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. National Oilwell Varco currently has an average rating of “Hold” and an average target price of $35.41.

The firm’s market capitalization is $12.14 billion. The firm’s 50 day moving average is $33.61 and its 200-day moving average is $31.50.

National Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Thursday, April 28th. The oil and gas exploration company reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.04. During the same quarter last year, the firm earned $1.14 EPS. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $335.85 million. The company’s revenue for the quarter was down 54.6% on a year-over-year basis. Equities analysts anticipate that National Oilwell Varco will post ($0.98) EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Stockholders of record on Friday, June 10th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Wednesday, June 8th.

Several institutional investors have added to or reduced their stakes in NOV. Vanguard Group Inc. boosted its position in National Oilwell Varco by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 23,306,180 shares of the oil and gas exploration company’s stock valued at $780,524,000 after buying an additional 69,123 shares during the period. Harris Associates L P boosted its position in National Oilwell Varco by 5.8% in the fourth quarter. Harris Associates L P now owns 9,660,015 shares of the oil and gas exploration company’s stock valued at $323,514,000 after buying an additional 528,619 shares during the period. Dimensional Fund Advisors LP boosted its position in National Oilwell Varco by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,444,406 shares of the oil and gas exploration company’s stock valued at $115,359,000 after buying an additional 32,755 shares during the period. Morgan Stanley boosted its position in National Oilwell Varco by 41.3% in the fourth quarter. Morgan Stanley now owns 2,461,954 shares of the oil and gas exploration company’s stock valued at $82,450,000 after buying an additional 719,845 shares during the period. Finally, Old Mutual Global Investors UK Ltd. boosted its position in National Oilwell Varco by 20,267.1% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 1,291,071 shares of the oil and gas exploration company’s stock valued at $43,237,000 after buying an additional 1,284,732 shares during the period.

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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