National Oilwell Varco, Inc. (NOV) Rating Reiterated by Seaport Global Securities
Several other brokerages also recently issued reports on NOV. Vetr raised shares of National Oilwell Varco from a buy rating to a strong-buy rating and set a $45.50 price target for the company in a report on Monday, April 3rd. Jefferies Group LLC reissued a hold rating and set a $36.00 price target on shares of National Oilwell Varco in a report on Tuesday, April 11th. R. F. Lafferty began coverage on shares of National Oilwell Varco in a report on Thursday, April 6th. They set a hold rating and a $39.00 price target for the company. BMO Capital Markets set a $30.00 price target on shares of National Oilwell Varco and gave the company a sell rating in a report on Wednesday, April 12th. Finally, Zacks Investment Research downgraded shares of National Oilwell Varco from a hold rating to a sell rating in a report on Tuesday, April 18th. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Hold and an average target price of $38.52.
Shares of National Oilwell Varco (NYSE NOV) traded down 2.29% during trading on Friday, reaching $31.96. 1,739,101 shares of the company’s stock were exchanged. National Oilwell Varco has a 52 week low of $31.00 and a 52 week high of $43.63. The stock’s market capitalization is $12.15 billion. The company’s 50-day moving average is $33.09 and its 200 day moving average is $36.14.
National Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.14). National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the company posted ($0.30) earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts forecast that National Oilwell Varco will post ($0.40) earnings per share for the current year.
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A number of institutional investors have recently modified their holdings of NOV. Lakeview Capital Partners LLC boosted its position in shares of National Oilwell Varco by 2.6% in the second quarter. Lakeview Capital Partners LLC now owns 6,194 shares of the oil and gas exploration company’s stock worth $204,000 after buying an additional 155 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of National Oilwell Varco during the second quarter worth $194,000. Retirement Systems of Alabama boosted its position in shares of National Oilwell Varco by 0.7% in the second quarter. Retirement Systems of Alabama now owns 184,265 shares of the oil and gas exploration company’s stock worth $6,070,000 after buying an additional 1,197 shares in the last quarter. Korea Investment CORP boosted its position in shares of National Oilwell Varco by 2,025.9% in the second quarter. Korea Investment CORP now owns 30,805 shares of the oil and gas exploration company’s stock worth $1,015,000 after buying an additional 29,356 shares in the last quarter. Finally, Telemus Capital LLC boosted its position in shares of National Oilwell Varco by 14.2% in the second quarter. Telemus Capital LLC now owns 26,247 shares of the oil and gas exploration company’s stock worth $865,000 after buying an additional 3,272 shares in the last quarter. 91.13% 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.
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