National-Oilwell Varco, Inc. (NYSE:NOV) shares gapped down before the market opened on Friday . The stock had previously closed at $29.95, but opened at $30.27. National-Oilwell Varco shares last traded at $30.59, with a volume of 178642 shares.

A number of research analysts recently weighed in on the company. Zacks Investment Research reissued a “strong sell” rating on shares of National-Oilwell Varco in a report on Wednesday, November 14th. Cowen set a $39.00 target price on National-Oilwell Varco and gave the stock a “hold” rating in a report on Monday. UBS Group set a $40.00 target price on National-Oilwell Varco and gave the stock a “hold” rating in a report on Tuesday, October 30th. R. F. Lafferty set a $43.00 target price on National-Oilwell Varco and gave the stock a “buy” rating in a report on Wednesday, November 28th. Finally, ValuEngine lowered National-Oilwell Varco from a “buy” rating to a “hold” rating in a report on Wednesday, October 17th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company’s stock. National-Oilwell Varco presently has a consensus rating of “Hold” and an average price target of $42.77.

The company has a market cap of $12.15 billion, a PE ratio of -71.49 and a beta of 1.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.17 and a quick ratio of 1.78.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.20 annualized dividend and a yield of 0.67%. National-Oilwell Varco’s dividend payout ratio (DPR) is presently -47.62%.

National-Oilwell Varco announced that its board has initiated a stock buyback plan on Tuesday, November 6th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the oil and gas exploration company to purchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in National-Oilwell Varco by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 40,535,826 shares of the oil and gas exploration company’s stock valued at $1,746,283,000 after purchasing an additional 506,418 shares during the period. Morgan Stanley lifted its position in shares of National-Oilwell Varco by 15.8% during the 3rd quarter. Morgan Stanley now owns 6,524,434 shares of the oil and gas exploration company’s stock valued at $281,073,000 after acquiring an additional 890,440 shares during the period. Legal & General Group Plc lifted its position in shares of National-Oilwell Varco by 2.0% during the 3rd quarter. Legal & General Group Plc now owns 2,012,309 shares of the oil and gas exploration company’s stock valued at $86,712,000 after acquiring an additional 39,430 shares during the period. Kepos Capital LP bought a new stake in shares of National-Oilwell Varco during the 3rd quarter valued at $4,815,000. Finally, Standard Life Aberdeen plc lifted its position in shares of National-Oilwell Varco by 5.2% during the 3rd quarter. Standard Life Aberdeen plc now owns 183,402 shares of the oil and gas exploration company’s stock valued at $7,901,000 after acquiring an additional 9,124 shares during the period. Institutional investors and hedge funds own 92.58% of the company’s stock.

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About National-Oilwell Varco (NYSE:NOV)

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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