Shares of National Oilwell Varco (NYSE:NOV) dropped 1.6% during trading on Friday . The company traded as low as $34.60 and last traded at $34.63, with a volume of 1,346,200 shares changing hands. The stock had previously closed at $35.20.

NOV has been the subject of a number of research analyst reports. KLR Group reaffirmed a “buy” rating and set a $52.00 price target on shares of National Oilwell Varco in a research report on Sunday, May 1st. 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 report on Wednesday, May 4th. FBR & Co decreased their target price on National Oilwell Varco from $55.00 to $44.00 and set an “outperform” rating for the company in a research report on Thursday, May 5th. Vetr raised National Oilwell Varco from a “buy” rating to a “strong-buy” rating and set a $35.67 target price for the company in a research report on Monday, May 9th. Finally, Argus reissued a “hold” rating on shares of National Oilwell Varco in a research report on Monday, May 16th. Five analysts have rated the stock with a sell rating, twenty 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 $34.67.

The firm’s 50 day moving average is $33.51 and its 200-day moving average is $32.09. The stock’s market cap is $13.04 billion.

National Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Thursday, July 28th. The oil and gas exploration company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.02. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the company earned $0.77 EPS. The firm’s revenue for the quarter was down 55.9% on a year-over-year basis. Equities analysts anticipate that National Oilwell Varco will post ($0.92) earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.58%.

In other National Oilwell Varco news, VP Scott K. Duff sold 3,181 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $33.40, for a total transaction of $106,245.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Several hedge funds and institutional investors recently added to or reduced their stakes in NOV. BlackRock Advisors LLC increased its position in National Oilwell Varco by 22.9% in the fourth quarter. BlackRock Advisors LLC now owns 644,328 shares of the oil and gas exploration company’s stock valued at $21,578,000 after buying an additional 119,988 shares during the period. Bank of Montreal Can increased its position in 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 period. Finally, American International Group Inc. increased its position in National Oilwell Varco by 21.9% in the fourth quarter. American International Group Inc. now owns 8,650,886 shares of the oil and gas exploration company’s stock valued at $289,718,000 after buying an additional 1,556,671 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 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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