National-Oilwell Varco, Inc. (NYSE:NOV) – Research analysts at Jefferies Group upped their FY2017 earnings per share estimates for National-Oilwell Varco in a note issued to investors on Monday. Jefferies Group analyst B. Handler now forecasts that the oil and gas exploration company will post earnings of ($0.42) per share for the year, up from their previous estimate of ($0.43). Jefferies Group currently has a “Hold” rating and a $35.00 target price on the stock. Jefferies Group also issued estimates for National-Oilwell Varco’s Q4 2017 earnings at ($0.04) EPS and Q1 2018 earnings at ($0.05) EPS.

Several other equities analysts have also recently issued reports on the company. ValuEngine cut National-Oilwell Varco from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Royal Bank of Canada reaffirmed a “hold” rating and issued a $40.00 price objective on shares of National-Oilwell Varco in a research report on Friday, January 19th. B. Riley set a $42.00 price objective on National-Oilwell Varco and gave the company a “buy” rating in a research report on Friday, January 19th. Susquehanna Bancshares set a $35.00 price objective on National-Oilwell Varco and gave the company a “hold” rating in a research report on Friday, January 12th. Finally, Cowen set a $33.00 price objective on National-Oilwell Varco and gave the company a “hold” rating in a research report on Thursday, January 11th. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $38.08.

National-Oilwell Varco (NYSE NOV) opened at $35.39 on Wednesday. National-Oilwell Varco has a 12-month low of $29.90 and a 12-month high of $41.90. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.75 and a quick ratio of 1.62.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOV. Ameriprise Financial Inc. raised its holdings in National-Oilwell Varco by 5.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 254,266 shares of the oil and gas exploration company’s stock worth $8,371,000 after purchasing an additional 13,241 shares during the period. Thrivent Financial For Lutherans raised its holdings in National-Oilwell Varco by 3.0% in the 2nd quarter. Thrivent Financial For Lutherans now owns 14,400 shares of the oil and gas exploration company’s stock worth $474,000 after purchasing an additional 420 shares during the period. Balyasny Asset Management LLC bought a new position in National-Oilwell Varco in the 2nd quarter worth $856,000. Royal Bank of Canada raised its holdings in National-Oilwell Varco by 26.5% in the 2nd quarter. Royal Bank of Canada now owns 291,575 shares of the oil and gas exploration company’s stock worth $9,605,000 after purchasing an additional 61,029 shares during the period. Finally, Macquarie Group Ltd. raised its holdings in National-Oilwell Varco by 11.0% in the 2nd quarter. Macquarie Group Ltd. now owns 19,100 shares of the oil and gas exploration company’s stock worth $629,000 after purchasing an additional 1,900 shares during the period. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

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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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