Credit Suisse Group set a $35.00 target price on National Oilwell Varco, Inc. (NYSE:NOV) in a research note issued to investors on Saturday, July 29th. The brokerage currently has a hold rating on the oil and gas exploration company’s stock.
Several other research firms have also issued reports on NOV. Vetr upgraded shares of National Oilwell Varco from a buy rating to a strong-buy rating and set a $45.50 price target for the company in a research report on Monday, April 3rd. Jefferies Group LLC restated a hold rating and set a $36.00 price target on shares of National Oilwell Varco in a research report on Tuesday, April 11th. R. F. Lafferty initiated coverage on shares of National Oilwell Varco in a report on Thursday, April 6th. They set a hold rating and a $39.00 target price for the company. BMO Capital Markets set a $30.00 target price on shares of National Oilwell Varco and gave the stock a sell rating in a report on Wednesday, April 12th. Finally, Zacks Investment Research lowered shares of National Oilwell Varco from a hold rating to a sell rating in a report on Tuesday, April 18th. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. National Oilwell Varco has a consensus rating of Hold and an average target price of $38.63.
National Oilwell Varco (NYSE:NOV) opened at 30.38 on Friday. National Oilwell Varco has a one year low of $29.90 and a one year high of $43.63. The firm’s market capitalization is $11.55 billion. The firm’s 50-day moving average price is $32.47 and its 200 day moving average price is $35.46.
National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.14). National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the business posted ($0.30) earnings per share. The company’s revenue was up 2.0% on a year-over-year basis. On average, equities analysts anticipate that National Oilwell Varco will post ($0.39) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Thursday, September 14th. National Oilwell Varco’s dividend payout ratio (DPR) is currently -3.31%.
Large investors have recently made changes to their positions in the stock. IHT Wealth Management LLC increased its stake in shares of National Oilwell Varco by 1,923.1% in 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 buying an additional 500 shares during the period. FNY Partners Fund LP purchased a new stake in shares of National Oilwell Varco during the first quarter valued at $120,000. Quadrant Capital Group LLC increased its stake in shares of National Oilwell Varco by 6.8% in the first quarter. Quadrant Capital Group LLC now owns 3,214 shares of the oil and gas exploration company’s stock valued at $122,000 after buying an additional 205 shares during the period. Exane Derivatives increased its stake in shares of National Oilwell Varco by 113.8% in the second quarter. Exane Derivatives now owns 3,985 shares of the oil and gas exploration company’s stock valued at $131,000 after buying an additional 2,121 shares during the period. Finally, WMS Partners LLC purchased a new stake in shares of National Oilwell Varco during the first quarter valued at $200,000. 91.63% of the stock is 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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