National Oilwell Varco, Inc. (NYSE:NOV) – Stock analysts at SunTrust Banks upped their Q3 2017 earnings per share (EPS) estimates for National Oilwell Varco in a report issued on Monday. SunTrust Banks analyst K. Sill now expects that the oil and gas exploration company will earn ($0.08) per share for the quarter, up from their previous forecast of ($0.09). SunTrust Banks currently has a “Sell” rating and a $50.00 target price on the stock. SunTrust Banks also issued estimates for National Oilwell Varco’s FY2017 earnings at ($0.37) EPS, Q1 2018 earnings at $0.01 EPS, Q2 2018 earnings at ($0.02) EPS, Q3 2018 earnings at $0.01 EPS, Q4 2018 earnings at $0.07 EPS and FY2018 earnings at $0.06 EPS.

Several other equities research analysts have also recently commented on the stock. Zacks Investment Research cut shares of National Oilwell Varco from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. BMO Capital Markets reaffirmed a “sell” rating and issued a $30.00 price objective on shares of National Oilwell Varco in a research report on Thursday, June 22nd. ValuEngine raised shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Morgan Stanley reissued an “overweight” rating and set a $50.00 price target (down from $60.00) on shares of National Oilwell Varco in a research report on Wednesday, June 21st. Finally, Jefferies Group LLC reissued a “hold” rating and set a $36.00 price target on shares of National Oilwell Varco in a research report on Tuesday, April 11th. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. National Oilwell Varco currently has an average rating of “Hold” and a consensus price target of $38.59.

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Shares of National Oilwell Varco (NYSE NOV) opened at 31.29 on Wednesday. National Oilwell Varco has a one year low of $31.03 and a one year high of $43.63. The company’s 50 day moving average price is $32.97 and its 200 day moving average price is $36.03. The stock’s market capitalization is $11.89 billion.

National Oilwell Varco (NYSE:NOV) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.14). National Oilwell Varco had a negative return on equity of 2.12% and a negative net margin of 33.24%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the company earned ($0.30) earnings per share. National Oilwell Varco’s quarterly revenue was up 2.0% compared to the same quarter last year.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of National Oilwell Varco by 3,189.2% in the first quarter. BlackRock Inc. now owns 24,841,300 shares of the oil and gas exploration company’s stock worth $995,890,000 after buying an additional 24,086,060 shares during the period. FMR LLC increased its stake in shares of National Oilwell Varco by 35.3% in the first quarter. FMR LLC now owns 9,054,139 shares of the oil and gas exploration company’s stock worth $362,980,000 after buying an additional 2,363,202 shares during the period. Bank of Montreal Can increased its stake in shares of National Oilwell Varco by 146.8% in the first quarter. Bank of Montreal Can now owns 3,274,041 shares of the oil and gas exploration company’s stock worth $131,257,000 after buying an additional 1,947,233 shares during the period. Schroder Investment Management Group increased its stake in shares of National Oilwell Varco by 37,171.5% in the first quarter. Schroder Investment Management Group now owns 1,515,460 shares of the oil and gas exploration company’s stock worth $60,723,000 after buying an additional 1,511,394 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of National Oilwell Varco by 33.6% in the second quarter. American Century Companies Inc. now owns 5,924,558 shares of the oil and gas exploration company’s stock worth $195,155,000 after buying an additional 1,491,359 shares during the period. 91.00% of the stock is owned by institutional investors.

About National Oilwell Varco

National Oilwell Varco, Inc is an oilfield equipment manufacturer and technology provider. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies and Completion & Production Solutions. The Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore.

Earnings History and Estimates for National Oilwell Varco (NYSE:NOV)

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