Jefferies Group Analysts Give National-Oilwell Varco (NOV) a $35.00 Price Target
Jefferies Group set a $35.00 price target on National-Oilwell Varco (NYSE:NOV) in a research note issued to investors on Thursday. The firm currently has a hold rating on the oil and gas exploration company’s stock. Jefferies Group also issued estimates for National-Oilwell Varco’s Q3 2018 earnings at $0.02 EPS, Q4 2018 earnings at $0.10 EPS and FY2018 earnings at $0.05 EPS.
Other equities research analysts also recently issued reports about the stock. B. Riley reissued a buy rating on shares of National-Oilwell Varco in a research report on Wednesday, November 1st. ValuEngine raised shares of National-Oilwell Varco from a sell rating to a hold rating in a research report on Wednesday, September 20th. Barclays dropped their price objective on shares of National-Oilwell Varco from $38.00 to $36.00 and set an equal weight rating on the stock in a research report on Monday, October 30th. SunTrust Banks raised shares of National-Oilwell Varco from a sell rating to a hold rating in a research report on Wednesday, November 29th. Finally, Zacks Investment Research downgraded shares of National-Oilwell Varco from a buy rating to a hold rating in a research report on Monday, October 23rd. Four analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, seven have given 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 price target of $38.04.
National-Oilwell Varco (NYSE NOV) traded up $0.49 during trading on Thursday, reaching $38.71. 3,126,934 shares of the company’s stock were exchanged, compared to its average volume of 2,719,480. National-Oilwell Varco has a 12 month low of $29.90 and a 12 month high of $41.90. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.62 and a current ratio of 2.75. The firm has a market cap of $14,710.00, a price-to-earnings ratio of -15.61, a PEG ratio of 20.24 and a beta of 0.95.
National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.01. National-Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the firm posted ($0.34) EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. analysts predict that National-Oilwell Varco will post -0.41 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 8th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Thursday, December 7th. National-Oilwell Varco’s payout ratio is currently -8.06%.
A number of institutional investors have recently modified their holdings of the business. Parametric Portfolio Associates LLC grew its position in National-Oilwell Varco by 1.7% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,122,145 shares of the oil and gas exploration company’s stock worth $40,094,000 after purchasing an additional 18,333 shares during the last quarter. 683 Capital Management LLC purchased a new position in National-Oilwell Varco during the 3rd quarter worth $8,575,000. Moors & Cabot Inc. grew its position in National-Oilwell Varco by 6.7% during the 3rd quarter. Moors & Cabot Inc. now owns 27,646 shares of the oil and gas exploration company’s stock worth $991,000 after purchasing an additional 1,726 shares during the last quarter. Afam Capital Inc. grew its position in National-Oilwell Varco by 4.3% during the 3rd quarter. Afam Capital Inc. now owns 144,634 shares of the oil and gas exploration company’s stock worth $5,168,000 after purchasing an additional 5,919 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in National-Oilwell Varco by 4.7% during the 3rd quarter. California Public Employees Retirement System now owns 1,211,321 shares of the oil and gas exploration company’s stock worth $43,280,000 after purchasing an additional 54,039 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.
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.
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