Susquehanna Bancshares set a $35.00 price objective on National-Oilwell Varco (NYSE:NOV) in a research report released on Friday morning. The firm currently has a hold rating on the oil and gas exploration company’s stock.
Several other equities research analysts have also recently weighed in on the company. Scotiabank set a $37.00 price objective on National-Oilwell Varco and gave the stock a hold rating in a report on Friday, October 27th. Zacks Investment Research cut National-Oilwell Varco from a buy rating to a hold rating in a report on Monday, October 23rd. ValuEngine cut National-Oilwell Varco from a hold rating to a sell rating in a report on Wednesday, November 15th. R. F. Lafferty lowered their target price on National-Oilwell Varco from $33.00 to $31.00 and set a hold rating for the company in a research note on Monday, November 6th. Finally, Deutsche Bank initiated coverage on National-Oilwell Varco in a research note on Tuesday, October 10th. They issued a hold rating and a $39.00 target price for the company. Four analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Hold and an average target price of $38.04.
National-Oilwell Varco (NOV) traded up $0.30 during midday trading on Friday, reaching $39.14. The company’s stock had a trading volume of 2,530,000 shares, compared to its average volume of 2,960,000. National-Oilwell Varco has a 1-year low of $29.90 and a 1-year high of $41.90. The company has a current ratio of 2.75, a quick ratio of 1.62 and a debt-to-equity ratio of 0.19. The stock has a market cap of $14,870.00, a PE ratio of -15.78, a P/E/G ratio of 21.02 and a beta of 0.95.
National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. National-Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the business posted ($0.34) EPS. The business’s revenue was up 11.5% on a year-over-year basis. equities analysts forecast that National-Oilwell Varco will post -0.41 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 8th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Thursday, December 7th. National-Oilwell Varco’s payout ratio is -8.06%.
A number of large investors have recently made changes to their positions in NOV. Pacer Advisors Inc. raised its stake in National-Oilwell Varco by 8.4% during the second quarter. Pacer Advisors Inc. now owns 7,996 shares of the oil and gas exploration company’s stock valued at $263,000 after buying an additional 619 shares during the last quarter. JPMorgan Chase & Co. raised its stake in National-Oilwell Varco by 106.7% during the second quarter. JPMorgan Chase & Co. now owns 691,571 shares of the oil and gas exploration company’s stock valued at $22,780,000 after buying an additional 357,021 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in National-Oilwell Varco during the second quarter valued at $1,060,000. Ameriprise Financial Inc. raised its stake in National-Oilwell Varco by 5.5% during the second quarter. Ameriprise Financial Inc. now owns 254,266 shares of the oil and gas exploration company’s stock valued at $8,371,000 after buying an additional 13,241 shares during the last quarter. Finally, Norinchukin Bank The raised its stake in National-Oilwell Varco by 7.2% during the second quarter. Norinchukin Bank The now owns 26,374 shares of the oil and gas exploration company’s stock valued at $869,000 after buying an additional 1,763 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.
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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.
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