National-Oilwell Varco (NYSE:NOV) was upgraded by B. Riley to a “hold” rating in a research note issued to investors on Monday. The firm currently has a $45.00 price target on the oil and gas exploration company’s stock. B. Riley’s price objective points to a potential upside of 0.83% from the stock’s current price. B. Riley also issued estimates for National-Oilwell Varco’s Q4 2018 earnings at $0.16 EPS, FY2019 earnings at $1.17 EPS and FY2020 earnings at $1.82 EPS.
A number of other analysts have also issued reports on NOV. ValuEngine upgraded National-Oilwell Varco from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Argus reiterated a “buy” rating and issued a $51.00 price target on shares of National-Oilwell Varco in a report on Thursday, May 17th. Wells Fargo & Co boosted their price target on National-Oilwell Varco from $37.00 to $47.00 and gave the company a “market perform” rating in a report on Thursday, May 24th. Citigroup boosted their price target on National-Oilwell Varco from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, July 11th. Finally, BMO Capital Markets boosted their price target on National-Oilwell Varco from $32.00 to $39.00 and gave the company a “sell” rating in a report on Monday, July 30th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $42.23.
Shares of NYSE NOV opened at $44.63 on Monday. The company has a quick ratio of 1.75, a current ratio of 3.19 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $16.77 billion, a P/E ratio of -107.48, a PEG ratio of 42.98 and a beta of 0.87. National-Oilwell Varco has a 52-week low of $29.93 and a 52-week high of $49.08.
National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Thursday, July 26th. The oil and gas exploration company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2 billion. National-Oilwell Varco had a negative return on equity of 0.60% and a negative net margin of 1.09%. National-Oilwell Varco’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.14) earnings per share. analysts anticipate that National-Oilwell Varco will post 0.17 EPS for the current year.
In other National-Oilwell Varco news, VP Craig L. Weinstock sold 3,709 shares of the company’s stock in a transaction on Monday, July 30th. The stock was sold at an average price of $48.02, for a total transaction of $178,106.18. Following the completion of the sale, the vice president now owns 42,663 shares in the company, valued at $2,048,677.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Eric L. Mattson sold 4,338 shares of the company’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $45.65, for a total value of $198,029.70. Following the sale, the director now owns 76,484 shares of the company’s stock, valued at approximately $3,491,494.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 574,599 shares of company stock valued at $27,128,255. 0.79% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of NOV. Quad Cities Investment Group LLC acquired a new position in shares of National-Oilwell Varco during the second quarter worth $104,000. Whittier Trust Co. increased its position in shares of National-Oilwell Varco by 180.6% during the second quarter. Whittier Trust Co. now owns 2,455 shares of the oil and gas exploration company’s stock worth $202,000 after purchasing an additional 1,580 shares in the last quarter. Vanguard Capital Wealth Advisors acquired a new position in shares of National-Oilwell Varco during the second quarter worth $295,000. Bedel Financial Consulting Inc. acquired a new position in shares of National-Oilwell Varco during the first quarter worth $152,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of National-Oilwell Varco during the second quarter worth $194,000. Institutional investors own 95.56% of the company’s stock.
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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