National-Oilwell Varco, Inc. (NYSE:NOV) – Investment analysts at Piper Jaffray Companies issued their Q1 2020 earnings estimates for National-Oilwell Varco in a research note issued to investors on Friday, February 8th. Piper Jaffray Companies analyst B. Herbert forecasts that the oil and gas exploration company will earn $0.13 per share for the quarter. Piper Jaffray Companies has a “Buy” rating and a $32.00 price objective on the stock. Piper Jaffray Companies also issued estimates for National-Oilwell Varco’s Q2 2020 earnings at $0.17 EPS, Q3 2020 earnings at $0.22 EPS and Q4 2020 earnings at $0.28 EPS.

National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Wednesday, February 6th. The oil and gas exploration company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.18 billion. National-Oilwell Varco had a negative net margin of 0.37% and a negative return on equity of 0.22%. The business’s revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.04) earnings per share.

NOV has been the topic of a number of other reports. Zacks Investment Research reiterated a “strong sell” rating on shares of National-Oilwell Varco in a research report on Wednesday, November 14th. R. F. Lafferty set a $43.00 target price on shares of National-Oilwell Varco and gave the stock a “buy” rating in a report on Wednesday, November 28th. Tudor Pickering upgraded shares of National-Oilwell Varco from a “hold” rating to a “buy” rating in a report on Monday, November 5th. UBS Group set a $28.00 target price on shares of National-Oilwell Varco and gave the stock a “hold” rating in a report on Thursday, December 20th. Finally, Royal Bank of Canada set a $31.00 target price on shares of National-Oilwell Varco and gave the stock a “hold” rating in a report on Friday. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $39.91.

Shares of NYSE:NOV opened at $28.35 on Monday. The company has a market capitalization of $10.87 billion, a P/E ratio of -354.38, a PEG ratio of 10.79 and a beta of 1.25. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.78 and a current ratio of 3.11. National-Oilwell Varco has a fifty-two week low of $24.27 and a fifty-two week high of $49.08.

Several institutional investors and hedge funds have recently modified their holdings of NOV. Millennium Management LLC bought a new position in shares of National-Oilwell Varco during the 2nd quarter worth approximately $1,194,000. Atria Investments LLC bought a new position in shares of National-Oilwell Varco during the 3rd quarter worth approximately $637,000. State of Alaska Department of Revenue grew its stake in shares of National-Oilwell Varco by 37.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 107,034 shares of the oil and gas exploration company’s stock worth $4,609,000 after acquiring an additional 29,166 shares in the last quarter. DNB Asset Management AS grew its stake in shares of National-Oilwell Varco by 21.7% during the 3rd quarter. DNB Asset Management AS now owns 62,845 shares of the oil and gas exploration company’s stock worth $2,707,000 after acquiring an additional 11,200 shares in the last quarter. Finally, First Hawaiian Bank bought a new position in shares of National-Oilwell Varco during the 3rd quarter worth approximately $174,000. 91.98% of the stock is owned by institutional investors.

National-Oilwell Varco declared that its Board of Directors has authorized a stock repurchase program on Tuesday, November 6th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the oil and gas exploration company to purchase up to 3.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

National-Oilwell Varco Company Profile

National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

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

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