National-Oilwell Varco (NOV) Given a $35.00 Price Target by Susquehanna Bancshares Analysts
Susquehanna Bancshares set a $35.00 price target on National-Oilwell Varco (NYSE:NOV) in a research note published on Friday. The brokerage currently has a hold rating on the oil and gas exploration company’s stock.
Other equities research analysts have also recently issued research reports about the stock. B. Riley reaffirmed a buy rating on shares of National-Oilwell Varco in a research note on Wednesday, November 1st. ValuEngine raised shares of National-Oilwell Varco from a sell rating to a hold rating in a research note on Wednesday, September 20th. Barclays cut their price objective on shares of National-Oilwell Varco from $38.00 to $36.00 and set an equal weight rating for the company in a research note on Monday, October 30th. SunTrust Banks raised shares of National-Oilwell Varco from a sell rating to a hold rating in a research note on Wednesday, November 29th. Finally, Zacks Investment Research cut shares of National-Oilwell Varco from a buy rating to a hold rating in a research report on Monday, October 23rd. Four analysts have rated the stock with a sell rating, twenty have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $38.04.
Shares of National-Oilwell Varco (NOV) traded up $0.30 during trading on Friday, hitting $39.14. 2,531,081 shares of the stock were exchanged, compared to its average volume of 2,603,311. National-Oilwell Varco has a 12 month low of $29.90 and a 12 month high of $41.90. The stock has a market cap of $14,870.00, a PE ratio of -15.78, a price-to-earnings-growth ratio of 21.18 and a beta of 0.95. The company has a quick ratio of 1.62, a current ratio of 2.75 and a debt-to-equity ratio of 0.19.
National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.01. National-Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the company earned ($0.34) EPS. The firm’s revenue was up 11.5% on a year-over-year basis. analysts predict that National-Oilwell Varco will post -0.41 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 8th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $0.20 annualized dividend and a yield of 0.51%. National-Oilwell Varco’s dividend payout ratio (DPR) is presently -8.06%.
A number of hedge funds and other institutional investors have recently modified their holdings of NOV. Hotchkis & Wiley Capital Management LLC bought a new position in National-Oilwell Varco in the 3rd quarter worth $226,421,000. Harris Associates L P raised its holdings in National-Oilwell Varco by 16.0% in the 2nd 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 purchasing an additional 2,557,484 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in National-Oilwell Varco by 459.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,639,603 shares of the oil and gas exploration company’s stock worth $86,948,000 after purchasing an additional 2,167,397 shares in the last quarter. Vanguard Group Inc. raised its holdings in National-Oilwell Varco by 2.5% in the 2nd 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 purchasing an additional 930,849 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in National-Oilwell Varco by 17.1% in the 3rd quarter. Wells Fargo & Company MN now owns 5,248,794 shares of the oil and gas exploration company’s stock worth $187,541,000 after purchasing an additional 765,634 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.
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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.
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