B. Riley downgraded shares of National Oilwell Varco (NYSE:NOV) from a buy rating to a hold rating in a research report report published on Tuesday morning, Marketbeat.com reports. They currently have $40.00 target price on the oil and gas exploration company’s stock, down from their prior target price of $42.00.
Several other equities research analysts have also recently weighed in on NOV. Susquehanna Bancshares set a $37.00 price target on National Oilwell Varco and gave the stock a hold rating in a research note on Friday, April 13th. Barclays set a $37.00 price target on National Oilwell Varco and gave the stock an equal weight rating in a research note on Thursday, February 8th. Zacks Investment Research raised National Oilwell Varco from a sell rating to a hold rating in a research note on Tuesday, March 13th. Seaport Global Securities reaffirmed a sell rating and issued a $30.00 price target on shares of National Oilwell Varco in a research note on Monday, February 12th. Finally, Jefferies Group set a $35.00 price target on National Oilwell Varco and gave the stock a hold rating in a research note on Thursday, January 4th. Four equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $36.38.
NOV opened at $37.59 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.79 and a current ratio of 3.07. National Oilwell Varco has a 52-week low of $29.90 and a 52-week high of $41.38. The company has a market cap of $15,555.48, a PE ratio of -89.50, a price-to-earnings-growth ratio of 26.57 and a beta of 0.80.
National Oilwell Varco (NYSE:NOV) last posted its earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). The firm had revenue of $1.97 billion for the quarter. National Oilwell Varco had a negative return on equity of 1.10% and a negative net margin of 3.24%. During the same period last year, the firm posted ($0.15) earnings per share. equities analysts anticipate that National Oilwell Varco will post 0.26 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 16th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Thursday, March 15th. National Oilwell Varco’s dividend payout ratio (DPR) is -47.62%.
In other National Oilwell Varco news, VP Scott K. Duff sold 7,421 shares of the business’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $35.66, for a total value of $264,632.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.79% of the company’s stock.
Large investors have recently made changes to their positions in the company. Dupont Capital Management Corp bought a new position in shares of National Oilwell Varco during the fourth quarter valued at $141,000. Global Trust Asset Management LLC bought a new position in shares of National Oilwell Varco during the fourth quarter valued at $160,000. CoreCommodity Management LLC bought a new position in shares of National Oilwell Varco during the fourth quarter valued at $162,000. Avestar Capital LLC bought a new position in shares of National Oilwell Varco during the fourth quarter valued at $176,000. Finally, Cadence Bank NA bought a new position in shares of National Oilwell Varco during the fourth quarter valued at $201,000. 93.51% of the stock is currently owned by hedge funds and other institutional investors.
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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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