National-Oilwell Varco, Inc. (NYSE:NOV) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Monday. The brokerage currently has a $44.47 price target on the oil and gas exploration company’s stock. Vetr‘s price objective indicates a potential upside of 13.41% from the company’s current price.
A number of other analysts have also recently commented on the stock. SunTrust Banks, Inc. started coverage on shares of National-Oilwell Varco in a report on Wednesday, January 18th. They set a “hold” rating and a $40.00 target price on the stock. Societe Generale upgraded shares of National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Thursday, January 19th. Guggenheim cut shares of National-Oilwell Varco from a “buy” rating to a “neutral” rating in a report on Tuesday, December 6th. BMO Capital Markets set a $30.00 target price on shares of National-Oilwell Varco and gave the company a “sell” rating in a report on Thursday, January 12th. Finally, Loop Capital started coverage on shares of National-Oilwell Varco in a report on Tuesday, February 7th. They set a “hold” rating on the stock. Three analysts have rated the stock with a sell rating, nineteen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $37.89.
National-Oilwell Varco (NYSE:NOV) traded down 0.25% during midday trading on Monday, reaching $39.21. 2,009,005 shares of the company traded hands. National-Oilwell Varco has a 12-month low of $26.86 and a 12-month high of $43.63. The company has a 50 day moving average of $39.19 and a 200-day moving average of $36.95. The stock’s market capitalization is $14.85 billion.
National-Oilwell Varco (NYSE:NOV) last announced its earnings results on Monday, February 6th. The oil and gas exploration company reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.14. National-Oilwell Varco had a negative net margin of 33.26% and a negative return on equity of 2.08%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the previous year, the business posted $0.23 EPS. The company’s quarterly revenue was down 37.8% on a year-over-year basis. Equities analysts anticipate that National-Oilwell Varco will post ($0.36) EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.51%. The ex-dividend date is Wednesday, March 15th. National-Oilwell Varco’s dividend payout ratio is currently -3.12%.
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In other National-Oilwell Varco news, insider Joseph W. Rovig sold 49,825 shares of the company’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $41.48, for a total transaction of $2,066,741.00. Following the transaction, the insider now owns 91 shares in the company, valued at approximately $3,774.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Scott K. Duff sold 37,369 shares of the company’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $39.87, for a total transaction of $1,489,902.03. Following the transaction, the vice president now owns 30,559 shares in the company, valued at approximately $1,218,387.33. The disclosure for this sale can be found here. Insiders have sold a total of 91,979 shares of company stock worth $3,751,823 in the last 90 days. Company insiders own 0.17% of the company’s stock.
A number of institutional investors have recently bought and sold shares of NOV. Royal Bank of Canada raised its stake in National-Oilwell Varco by 4.0% in the second quarter. Royal Bank of Canada now owns 371,476 shares of the oil and gas exploration company’s stock valued at $12,500,000 after buying an additional 14,427 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in National-Oilwell Varco by 7.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 16,849 shares of the oil and gas exploration company’s stock valued at $566,000 after buying an additional 1,226 shares during the last quarter. Kentucky Retirement Systems acquired a new stake in National-Oilwell Varco during the second quarter valued at approximately $1,079,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in National-Oilwell Varco during the second quarter valued at approximately $512,000. Finally, Williams Jones & Associates LLC raised its stake in National-Oilwell Varco by 148.3% in the second quarter. Williams Jones & Associates LLC now owns 6,698 shares of the oil and gas exploration company’s stock valued at $225,000 after buying an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 94.98% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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