National Oilwell Varco (NYSE:NOV) shares traded down 3.1% during trading on Monday . The stock traded as low as $31.18 and last traded at $31.24, with a volume of 1,878,240 shares. The stock had previously closed at $32.25.

A number of research analysts have recently issued reports on the company. Jefferies Group reiterated a “hold” rating and issued a $33.00 price target (up from $30.00) on shares of National Oilwell Varco in a report on Monday, July 11th. Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of National Oilwell Varco in a report on Tuesday, July 5th. Vetr downgraded National Oilwell Varco from a “strong-buy” rating to a “buy” rating and set a $40.44 price target on the stock. in a report on Monday, June 27th. Scotiabank reiterated a “sector perform” rating and issued a $37.00 price target (up from $32.00) on shares of National Oilwell Varco in a report on Wednesday, June 15th. Finally, 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 report on Wednesday, June 15th. Five investment 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. The stock presently has an average rating of “Hold” and an average target price of $35.41.

The company’s market capitalization is $11.79 billion. The stock’s 50 day moving average price is $33.81 and its 200-day moving average price is $31.49.

National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings results on Thursday, April 28th. The oil and gas exploration company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The company earned $2.19 billion during the quarter, compared to the consensus estimate of $335.85 million. National Oilwell Varco’s revenue for the quarter was down 54.6% on a year-over-year basis. During the same period last year, the company earned $1.14 earnings per share. Equities research analysts predict that National Oilwell Varco will post ($0.99) EPS for the current fiscal year.

Several institutional investors have added to or reduced their stakes in the company. Vanguard Group Inc. increased 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 worth $780,524,000 after buying an additional 69,123 shares during the last quarter. BOKF NA increased its position in National Oilwell Varco by 2.4% in the fourth quarter. BOKF NA now owns 50,044 shares of the oil and gas exploration company’s stock worth $1,676,000 after buying an additional 1,194 shares during the last quarter. Harris Associates L P increased 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 worth $323,514,000 after buying an additional 528,619 shares during the last quarter. Buckhead Capital Management LLC increased its position in National Oilwell Varco by 50.0% in the fourth quarter. Buckhead Capital Management LLC now owns 81,591 shares of the oil and gas exploration company’s stock worth $2,732,000 after buying an additional 27,205 shares during the last quarter. Finally, GAM Holding AG increased its position in National Oilwell Varco by 52.9% in the fourth quarter. GAM Holding AG now owns 73,027 shares of the oil and gas exploration company’s stock worth $2,446,000 after buying an additional 25,279 shares during 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 operates through four segments: Rig Systems, which makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore; Rig Aftermarket, which provides aftermarket products and services to support land and offshore rigs, and drilling rig components manufactured by the Company’s Rig Systems segment; Wellbore Technologies, which sells and rents solids control equipment, and provides solids control, waste management and drilling fluids services, and Completion & Production Solutions, which provides technologies for well completions and oil and gas production.

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