Wall Street brokerages predict that National-Oilwell Varco, Inc. (NYSE:NOV) will post $2.20 billion in sales for the current quarter, Zacks Investment Research reports. Ten analysts have provided estimates for National-Oilwell Varco’s earnings. The lowest sales estimate is $2.10 billion and the highest is $2.26 billion. National-Oilwell Varco posted sales of $1.84 billion in the same quarter last year, which would indicate a positive year over year growth rate of 19.6%. The company is scheduled to issue its next quarterly earnings report after the market closes on Thursday, October 25th.
According to Zacks, analysts expect that National-Oilwell Varco will report full-year sales of $8.36 billion for the current financial year, with estimates ranging from $8.09 billion to $8.46 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $9.57 billion per share, with estimates ranging from $8.62 billion to $9.99 billion. Zacks’ sales averages are an average based on a survey of analysts that follow National-Oilwell Varco.
National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Thursday, July 26th. The oil and gas exploration company reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.04. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2 billion. National-Oilwell Varco had a negative net margin of 1.09% and a negative return on equity of 0.60%. The business’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.14) earnings per share.
NOV has been the topic of a number of research analyst reports. Argus restated a “buy” rating and issued a $51.00 price target on shares of National-Oilwell Varco in a report on Thursday, May 17th. Raymond James upped their price target on shares of National-Oilwell Varco from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, July 30th. Piper Jaffray Companies restated a “buy” rating and issued a $53.00 price target on shares of National-Oilwell Varco in a report on Monday, August 6th. R. F. Lafferty upgraded shares of National-Oilwell Varco from a “hold” rating to a “buy” rating and upped their price target for the stock from $41.00 to $51.00 in a report on Tuesday, August 21st. Finally, Barclays upped their price target on shares of National-Oilwell Varco from $37.00 to $44.00 and gave the stock a “hold” rating in a report on Monday, July 30th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $42.24.
NYSE NOV opened at $46.26 on Thursday. The company has a current ratio of 3.19, a quick ratio of 1.75 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $18.01 billion, a PE ratio of -108.26, a P/E/G ratio of 46.15 and a beta of 0.94. National-Oilwell Varco has a 12 month low of $31.42 and a 12 month high of $49.08.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Thursday, September 13th. National-Oilwell Varco’s dividend payout ratio (DPR) is presently -47.62%.
In related news, Chairman Clay C. Williams sold 465,116 shares of the company’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $47.91, for a total value of $22,283,707.56. Following the completion of the sale, the chairman now directly owns 811,642 shares of the company’s stock, valued at $38,885,768.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Craig L. Weinstock sold 3,709 shares of the company’s stock in a transaction dated 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 directly owns 42,663 shares of the company’s stock, valued at $2,048,677.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 590,995 shares of company stock valued at $27,870,170. 0.79% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in NOV. BDO Wealth Advisors LLC lifted its position in shares of National-Oilwell Varco by 29.6% during the second quarter. BDO Wealth Advisors LLC now owns 11,603 shares of the oil and gas exploration company’s stock valued at $504,000 after buying an additional 2,651 shares during the last quarter. Cleararc Capital Inc. lifted its position in shares of National-Oilwell Varco by 578.7% during the second quarter. Cleararc Capital Inc. now owns 65,770 shares of the oil and gas exploration company’s stock valued at $2,854,000 after buying an additional 56,079 shares during the last quarter. Energy Opportunities Capital Management LLC lifted its position in shares of National-Oilwell Varco by 16.4% during the second quarter. Energy Opportunities Capital Management LLC now owns 177,699 shares of the oil and gas exploration company’s stock valued at $7,712,000 after buying an additional 25,100 shares during the last quarter. WINTON GROUP Ltd lifted its position in shares of National-Oilwell Varco by 66.0% during the second quarter. WINTON GROUP Ltd now owns 210,061 shares of the oil and gas exploration company’s stock valued at $9,117,000 after buying an additional 83,553 shares during the last quarter. Finally, GHP Investment Advisors Inc. purchased a new stake in shares of National-Oilwell Varco during the second quarter valued at about $205,000. 95.61% of the stock is owned by institutional investors.
About National-Oilwell Varco
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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