National-Oilwell Varco, Inc. (NOV) Lifted to Strong-Buy at Vetr Inc.

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.

Analyst Recommendations for National-Oilwell Varco (NYSE:NOV)

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.

5 Day Chart for NYSE:NOV

To view Vetr’s full report, visit Vetr’s official website.

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