Gabelli reissued their buy rating on shares of National-Oilwell Varco (NYSE:NOV) in a report published on Monday. Gabelli also issued estimates for National-Oilwell Varco’s FY2019 earnings at $0.40 EPS and FY2023 earnings at $3.25 EPS.

A number of other equities analysts have also recently weighed in on the stock. Raymond James decreased their price objective on shares of National-Oilwell Varco from $55.00 to $45.00 and set an outperform rating for the company in a research report on Monday, October 29th. Jefferies Financial Group upped their price objective on shares of National-Oilwell Varco from $42.00 to $46.00 and gave the company a hold rating in a research report on Thursday, October 18th. Citigroup decreased their price objective on shares of National-Oilwell Varco from $48.00 to $40.00 and set a hold rating for the company in a research report on Monday, October 29th. Credit Suisse Group decreased their price objective on shares of National-Oilwell Varco from $43.00 to $38.00 and set a hold rating for the company in a research report on Monday, October 29th. Finally, Evercore ISI raised shares of National-Oilwell Varco from an in-line rating to an outperform rating and set a $54.00 price objective for the company in a research report on Monday, October 29th. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $39.09.

NYSE:NOV opened at $28.83 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.11 and a quick ratio of 1.83. The stock has a market capitalization of $10.87 billion, a price-to-earnings ratio of -360.38, a PEG ratio of 11.73 and a beta of 1.25. National-Oilwell Varco has a 1-year low of $24.27 and a 1-year high of $49.08.

National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data on Wednesday, February 6th. The oil and gas exploration company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.18 billion. National-Oilwell Varco had a negative net margin of 0.37% and a negative return on equity of 0.22%. The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.04) earnings per share. As a group, sell-side analysts expect that National-Oilwell Varco will post 0.4 earnings per share for the current fiscal year.

National-Oilwell Varco declared that its Board of Directors has approved a stock repurchase program on Tuesday, November 6th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the oil and gas exploration company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Several hedge funds have recently modified their holdings of the company. State of Tennessee Treasury Department lifted its holdings in National-Oilwell Varco by 16.3% in the fourth quarter. State of Tennessee Treasury Department now owns 99,347 shares of the oil and gas exploration company’s stock worth $2,553,000 after acquiring an additional 13,936 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in National-Oilwell Varco by 4.0% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 58,912 shares of the oil and gas exploration company’s stock worth $1,514,000 after acquiring an additional 2,279 shares during the last quarter. AlphaCrest Capital Management LLC bought a new position in National-Oilwell Varco in the fourth quarter worth about $417,000. Bank of Nova Scotia lifted its holdings in National-Oilwell Varco by 6.0% in the fourth quarter. Bank of Nova Scotia now owns 82,488 shares of the oil and gas exploration company’s stock worth $2,118,000 after acquiring an additional 4,702 shares during the last quarter. Finally, Gryphon Financial Partners LLC bought a new position in National-Oilwell Varco in the fourth quarter worth about $317,000. 92.16% of the stock is currently owned by institutional investors and hedge funds.

About National-Oilwell Varco

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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Analyst Recommendations for National-Oilwell Varco (NYSE:NOV)

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