Shares of National Oilwell Varco (NYSE:NOV) shot up 6.2% during mid-day trading on Tuesday . The company traded as high as $34.20 and last traded at $34.19, with a volume of 1,754,815 shares traded. The stock had previously closed at $32.19.

A number of research firms have issued reports on NOV. Jefferies Group reissued a “hold” rating and issued a $33.00 target price (up from $30.00) on shares of National Oilwell Varco in a research report on Monday. Vetr raised 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 cut National Oilwell Varco from a “hold” rating to a “sell” rating and set a $31.00 price target for the company. in a research report on Wednesday, May 4th. Howard Weil lifted their price target on National Oilwell Varco from $32.00 to $37.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 15th. Finally, Cowen and Company lifted their price target on National Oilwell Varco from $25.00 to $28.00 and gave the company a “market perform” rating in a research report on Friday, April 29th. Five equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $35.41.

The stock’s market cap is $12.59 billion. The firm has a 50-day moving average price of $33.74 and a 200-day moving average price of $31.51.

National Oilwell Varco (NYSE:NOV) last issued 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 Zacks’ consensus estimate of ($0.10) by $0.04. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $335.85 million. During the same quarter in the previous year, the business earned $1.14 EPS. The company’s revenue for the quarter was down 54.6% on a year-over-year basis. Analysts expect that National Oilwell Varco will post ($0.99) earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 24th. Investors of record on Friday, June 10th were given a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, June 8th. This represents a $0.20 annualized dividend and a yield of 0.60%.

A number of hedge funds and institutional investors recently added to or reduced their stakes in NOV. Greylin Investment Mangement Inc. bought a new position in National Oilwell Varco during the fourth quarter valued at approximately $1,042,000. Pitcairn Co. raised its position in National Oilwell Varco by 89.3% in the fourth quarter. Pitcairn Co. now owns 36,596 shares of the oil and gas exploration company’s stock valued at $1,226,000 after buying an additional 17,264 shares in the last quarter. Victory Capital Management Inc. raised its position in National Oilwell Varco by 36.9% in the fourth quarter. Victory Capital Management Inc. now owns 40,288 shares of the oil and gas exploration company’s stock valued at $1,349,000 after buying an additional 10,868 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its position in National Oilwell Varco by 120.0% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 40,434 shares of the oil and gas exploration company’s stock valued at $1,354,000 after buying an additional 22,055 shares in the last quarter. Finally, BP PLC bought a new position in National Oilwell Varco during the fourth quarter valued at approximately $1,407,000.

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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