FBR & Co reaffirmed their buy rating on shares of National Oilwell Varco, Inc. (NYSE:NOV) in a research report released on Monday morning.

Other equities analysts have also issued research reports about the company. Piper Jaffray Companies set a $37.00 target price on National Oilwell Varco and gave the company a buy rating in a report on Thursday, July 27th. Loop Capital raised National Oilwell Varco from a hold rating to a buy rating and set a $40.00 target price on the stock in a report on Thursday, August 17th. Zacks Investment Research raised National Oilwell Varco from a hold rating to a buy rating and set a $39.00 target price on the stock in a report on Monday, October 9th. Credit Suisse Group set a $35.00 target price on National Oilwell Varco and gave the company a hold rating in a report on Saturday, July 29th. Finally, Scotiabank set a $37.00 target price on National Oilwell Varco and gave the company a hold rating in a report on Friday, July 28th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $38.61.

Shares of National Oilwell Varco (NYSE:NOV) opened at 34.99 on Monday. The firm’s market cap is $13.30 billion. National Oilwell Varco has a 52-week low of $29.90 and a 52-week high of $43.63. The stock has a 50 day moving average price of $33.94 and a 200-day moving average price of $33.79.

National Oilwell Varco (NYSE:NOV) last posted its earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.78 billion. National Oilwell Varco had a negative return on equity of 2.12% and a negative net margin of 33.24%. National Oilwell Varco’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.30) earnings per share. On average, equities analysts anticipate that National Oilwell Varco will post ($0.41) EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a $0.05 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.57%. National Oilwell Varco’s payout ratio is currently -3.31%.

A number of large investors have recently made changes to their positions in NOV. BlackRock Inc. lifted its position in 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 valued at $995,890,000 after purchasing an additional 24,086,060 shares during the period. Harris Associates L P lifted its position in National Oilwell Varco by 16.0% in the second quarter. Harris Associates L P now owns 18,574,753 shares of the oil and gas exploration company’s stock valued at $611,852,000 after purchasing an additional 2,557,484 shares during the period. The Manufacturers Life Insurance Company lifted its position in National Oilwell Varco by 459.0% in the second quarter. The Manufacturers Life Insurance Company now owns 2,639,603 shares of the oil and gas exploration company’s stock valued at $86,948,000 after purchasing an additional 2,167,397 shares during the period. American Century Companies Inc. lifted its position in 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 valued at $195,155,000 after purchasing an additional 1,491,359 shares during the period. Finally, Morgan Stanley lifted its position in National Oilwell Varco by 36.3% in the first quarter. Morgan Stanley now owns 4,218,392 shares of the oil and gas exploration company’s stock valued at $169,114,000 after purchasing an additional 1,124,578 shares during the period. Hedge funds and other institutional investors own 90.31% of the company’s stock.

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.

Analyst Recommendations for National Oilwell Varco (NYSE:NOV)

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