National Oilwell Varco (NYSE:NOV)’s share price gapped up before the market opened on Monday . The stock had previously closed at $33.24, but opened at $33.35. National Oilwell Varco shares last traded at $34.29, with a volume of 2,269,971 shares traded.

A number of equities analysts have recently commented on NOV shares. Vetr raised National Oilwell Varco from a “buy” rating to a “strong-buy” rating and set a $35.67 price objective for the company in a research report on Monday, May 9th. Credit Suisse Group AG reaffirmed a “sell” rating on shares of National Oilwell Varco in a report on Tuesday, April 12th. Morgan Stanley upped their price target on National Oilwell Varco from $35.00 to $39.00 and gave the company an “underweight” rating in a report on Tuesday, April 19th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating on shares of National Oilwell Varco in a report on Tuesday, July 5th. Finally, Johnson Rice raised National Oilwell Varco from a “hold” rating to an “accumulate” rating in a report on Friday, July 29th. Five research analysts have rated the stock with a sell rating, nineteen have given a hold rating and seven have given a buy rating to the company’s stock. National Oilwell Varco has a consensus rating of “Hold” and an average price target of $34.67.

The company’s 50 day moving average price is $33.03 and its 200-day moving average price is $31.65. The company’s market cap is $12.99 billion.

National Oilwell Varco (NYSE:NOV) last announced its earnings results on Thursday, July 28th. The oil and gas exploration company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.02. During the same period in the previous year, the firm earned $0.77 EPS. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.80 billion. The firm’s revenue was down 55.9% on a year-over-year basis. On average, equities research analysts expect that National Oilwell Varco will post ($0.94) EPS for the current year.

In other National Oilwell Varco news, VP Scott K. Duff sold 3,181 shares of National Oilwell Varco stock in a transaction on Monday, August 8th. The stock was sold at an average price of $33.40, for a total transaction of $106,245.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

A number of hedge funds have made changes to their positions in the stock. Morgan Stanley increased its stake in shares of 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 last quarter. Bank of Montreal Can increased its stake in shares of National Oilwell Varco by 179.0% in the fourth quarter. Bank of Montreal Can now owns 357,868 shares of the oil and gas exploration company’s stock valued at $11,985,000 after buying an additional 229,594 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of National Oilwell Varco by 2.5% in the fourth quarter. Principal Financial Group Inc. now owns 576,260 shares of the oil and gas exploration company’s stock valued at $19,299,000 after buying an additional 13,821 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its stake in shares of National Oilwell Varco by 4.6% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 50,748 shares of the oil and gas exploration company’s stock valued at $1,700,000 after buying an additional 2,216 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of 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 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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