ValuEngine upgraded shares of National Oilwell Varco, Inc. (NYSE:NOV) from a sell rating to a hold rating in a research report report published on Wednesday.

A number of other equities research analysts have also commented on NOV. Jefferies Group LLC set a $38.00 price target on National Oilwell Varco and gave the company a hold rating in a research report on Wednesday, May 31st. Piper Jaffray Companies raised National Oilwell Varco from a neutral rating to an overweight rating and increased their price target for the company from $36.00 to $37.00 in a research report on Tuesday, June 20th. Morgan Stanley reissued an overweight rating and issued a $50.00 price target (down from $60.00) on shares of National Oilwell Varco in a research report on Wednesday, June 21st. BMO Capital Markets reissued a sell rating and issued a $30.00 price target on shares of National Oilwell Varco in a research report on Thursday, June 22nd. Finally, BidaskClub raised National Oilwell Varco from a strong sell rating to a sell rating in a research report on Wednesday, July 5th. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $38.82.

National Oilwell Varco (NYSE NOV) opened at 35.54 on Wednesday. The company has a 50 day moving average of $31.57 and a 200 day moving average of $34.23. National Oilwell Varco has a 1-year low of $29.90 and a 1-year high of $43.63. The company’s market capitalization is $13.51 billion.

National Oilwell Varco (NYSE:NOV) last issued its earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.14). National Oilwell Varco had a negative return on equity of 2.12% and a negative net margin of 33.24%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the firm earned ($0.30) earnings per share. National Oilwell Varco’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts predict that National Oilwell Varco will post ($0.40) earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.56%. National Oilwell Varco’s payout ratio is -3.31%.

Several hedge funds have recently bought and sold shares of NOV. UBS Asset Management Americas Inc. grew its stake in shares of National Oilwell Varco by 14.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,621,622 shares of the oil and gas exploration company’s stock worth $65,011,000 after acquiring an additional 210,281 shares during the period. State of Tennessee Treasury Department grew its stake in shares of National Oilwell Varco by 353.7% during the 1st quarter. State of Tennessee Treasury Department now owns 535,380 shares of the oil and gas exploration company’s stock worth $21,463,000 after acquiring an additional 417,369 shares during the period. Harris Associates L P grew its stake in shares of National Oilwell Varco by 7.2% during the 1st quarter. Harris Associates L P now owns 16,017,269 shares of the oil and gas exploration company’s stock worth $642,133,000 after acquiring an additional 1,080,775 shares during the period. State of Wisconsin Investment Board grew its stake in shares of National Oilwell Varco by 26.6% during the 1st quarter. State of Wisconsin Investment Board now owns 216,693 shares of the oil and gas exploration company’s stock worth $8,687,000 after acquiring an additional 45,555 shares during the period. Finally, Hutchinson Capital Management CA grew its stake in shares of National Oilwell Varco by 0.6% during the 1st quarter. Hutchinson Capital Management CA now owns 553,215 shares of the oil and gas exploration company’s stock worth $22,178,000 after acquiring an additional 3,041 shares during the period. Institutional investors own 90.29% of the company’s stock.

National Oilwell Varco Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for National Oilwell Varco (NYSE:NOV)

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