Cowen set a $33.00 price objective on National-Oilwell Varco (NYSE:NOV) in a research report sent to investors on Thursday morning. The brokerage currently has a hold rating on the oil and gas exploration company’s stock.
Several other analysts have also recently issued reports on NOV. ValuEngine raised shares of National-Oilwell Varco from a sell rating to a hold rating in a report on Wednesday, September 20th. Piper Jaffray Companies reaffirmed a buy rating and issued a $36.00 price target on shares of National-Oilwell Varco in a report on Tuesday, September 26th. Citigroup upped their price target on shares of National-Oilwell Varco from $34.00 to $36.00 and gave the company a neutral rating in a report on Thursday, October 5th. Jefferies Group set a $34.00 price target on shares of National-Oilwell Varco and gave the company a hold rating in a report on Thursday, October 5th. Finally, Royal Bank of Canada set a $37.00 price target on shares of National-Oilwell Varco and gave the company a hold rating in a report on Sunday, October 8th. Four equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. National-Oilwell Varco currently has an average rating of Hold and an average price target of $38.04.
Shares of National-Oilwell Varco (NYSE NOV) opened at $39.14 on Thursday. The stock has a market cap of $14,874.45, a price-to-earnings ratio of -15.72, a P/E/G ratio of 21.18 and a beta of 0.95. The company has a quick ratio of 1.62, a current ratio of 2.75 and a debt-to-equity ratio of 0.19. National-Oilwell Varco has a twelve month low of $29.90 and a twelve month high of $41.90.
National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.86 billion. National-Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.34) earnings per share. equities analysts predict that National-Oilwell Varco will post -0.41 EPS for the current fiscal year.
The firm also recently announced 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. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $0.20 annualized dividend and a yield of 0.51%. National-Oilwell Varco’s payout ratio is -8.03%.
Hedge funds have recently added to or reduced their stakes in the business. IHT Wealth Management LLC increased its stake in National-Oilwell Varco by 1,923.1% during the second quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock valued at $112,000 after purchasing an additional 500 shares during the last quarter. IBM Retirement Fund bought a new position in shares of National-Oilwell Varco during the third quarter worth about $200,000. Wrapmanager Inc. bought a new position in shares of National-Oilwell Varco during the third quarter worth about $202,000. Smith Salley & Associates bought a new position in shares of National-Oilwell Varco during the third quarter worth about $214,000. Finally, Advisor Partners LLC bought a new position in shares of National-Oilwell Varco during the third quarter worth about $227,000. Hedge funds and other institutional investors own 92.44% 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.
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