National Oilwell Varco, Inc. (NYSE:NOV) – Equities researchers at Jefferies Group decreased their FY2017 earnings per share estimates for shares of National Oilwell Varco in a research note issued to investors on Monday. Jefferies Group analyst B. Handler now anticipates that the oil and gas exploration company will post earnings per share of ($0.43) for the year, down from their previous estimate of ($0.40). Jefferies Group currently has a “Hold” rating and a $34.00 price target on the stock. Jefferies Group also issued estimates for National Oilwell Varco’s Q4 2017 earnings at ($0.05) EPS, FY2018 earnings at $0.10 EPS, FY2019 earnings at $0.90 EPS and FY2020 earnings at $2.15 EPS.

National Oilwell Varco (NYSE:NOV) last announced its earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. National Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. The company’s revenue was up 11.5% on a year-over-year basis. During the same period last year, the firm earned ($0.34) earnings per share.

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Several other equities research analysts have also issued reports on the stock. Wolfe Research lowered shares of National Oilwell Varco from a “market perform” rating to an “underperform” rating in a research note on Tuesday. Citigroup Inc. cut their target price on shares of National Oilwell Varco from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Tuesday. Barclays PLC cut their target price on shares of National Oilwell Varco from $38.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday. J P Morgan Chase & Co cut their target price on shares of National Oilwell Varco from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Scotiabank set a $37.00 target price on shares of National Oilwell Varco and gave the stock a “hold” rating in a research report on Friday, October 27th. Six analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $37.92.

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in National Oilwell Varco by 2.5% during the second quarter. Vanguard Group Inc. now owns 38,794,232 shares of the oil and gas exploration company’s stock worth $1,277,882,000 after buying an additional 930,849 shares during the last quarter. First Eagle Investment Management LLC grew its stake in National Oilwell Varco by 1.7% during the second quarter. First Eagle Investment Management LLC now owns 26,505,005 shares of the oil and gas exploration company’s stock worth $873,075,000 after buying an additional 452,148 shares during the last quarter. BlackRock Inc. grew its stake in National Oilwell Varco by 1.4% during the second quarter. BlackRock Inc. now owns 25,195,874 shares of the oil and gas exploration company’s stock worth $829,954,000 after buying an additional 354,574 shares during the last quarter. Harris Associates L P grew its stake in National Oilwell Varco by 16.0% during the second quarter. Harris Associates L P now owns 18,574,753 shares of the oil and gas exploration company’s stock worth $611,852,000 after buying an additional 2,557,484 shares during the last quarter. Finally, Clearbridge Investments LLC grew its stake in National Oilwell Varco by 2.8% during the first quarter. Clearbridge Investments LLC now owns 13,209,045 shares of the oil and gas exploration company’s stock worth $529,551,000 after buying an additional 359,809 shares during the last quarter. 90.18% of the stock is currently owned by hedge funds and other 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.

Earnings History and Estimates for National Oilwell Varco (NYSE:NOV)

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