National Oilwell Varco (NOV) Trading Down 2.1%
National Oilwell Varco (NYSE:NOV)’s share price traded down 2.1% during mid-day trading on Monday . The company traded as low as $32.46 and last traded at $33.02, with a volume of 1,406,625 shares traded. The stock had previously closed at $33.74.
A number of equities analysts have recently issued reports on the company. Jefferies Group reissued a “hold” rating and set a $33.00 target price (up from $30.00) on shares of National Oilwell Varco in a research note on Monday, July 11th. 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 note on Wednesday, April 20th. Societe Generale downgraded National Oilwell Varco from a “hold” rating to a “sell” rating and set a $31.00 target price for the company. in a research note on Wednesday, May 4th. Howard Weil increased their target price on National Oilwell Varco from $32.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Wednesday, June 15th. Finally, Cowen and Company increased their target price on National Oilwell Varco from $25.00 to $28.00 and gave the stock a “market perform” rating in a research note 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 assigned a buy rating to the company. National Oilwell Varco has a consensus rating of “Hold” and a consensus price target of $35.41.
The company’s market cap is $12.55 billion. The company’s 50-day moving average is $33.84 and its 200-day moving average is $31.47.
National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data on Thursday, April 28th. The oil and gas exploration company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. During the same quarter in the previous year, the firm posted $1.14 earnings per share. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $335.85 million. The company’s revenue for the quarter was down 54.6% on a year-over-year basis. On average, equities research analysts anticipate that National Oilwell Varco will post ($0.98) EPS for the current fiscal year.
The business also recently declared 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 0.60%. The ex-dividend date was Wednesday, June 8th.
Several institutional investors recently bought and sold shares of NOV. Pitcairn Co. boosted 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. boosted 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. BP PLC bought a new position in National Oilwell Varco during the fourth quarter valued at approximately $1,407,000. Nuance Investments LLC boosted its position in National Oilwell Varco by 122.6% in the fourth quarter. Nuance Investments LLC now owns 43,689 shares of the oil and gas exploration company’s stock valued at $1,463,000 after buying an additional 24,064 shares in the last quarter. Finally, ARGI Investment Services LLC boosted its position in National Oilwell Varco by 105.9% in the fourth quarter. ARGI Investment Services LLC now owns 47,701 shares of the oil and gas exploration company’s stock valued at $1,598,000 after buying an additional 24,537 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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