Q1 2018 Earnings Estimate for National-Oilwell Varco, Inc. (NOV) Issued By SunTrust Banks
National-Oilwell Varco, Inc. (NYSE:NOV) – Stock analysts at SunTrust Banks upped their Q1 2018 earnings estimates for shares of National-Oilwell Varco in a research note issued to investors on Monday. SunTrust Banks analyst K. Sill now expects that the oil and gas exploration company will post earnings per share of ($0.01) for the quarter, up from their prior estimate of ($0.02). SunTrust Banks has a “Hold” rating on the stock. SunTrust Banks also issued estimates for National-Oilwell Varco’s Q3 2018 earnings at $0.06 EPS, Q4 2018 earnings at $0.12 EPS and FY2018 earnings at $0.20 EPS.
National-Oilwell Varco (NYSE:NOV) last posted its earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). The firm had revenue of $1.97 billion during the quarter. National-Oilwell Varco had a negative net margin of 3.24% and a negative return on equity of 1.10%. During the same period last year, the firm earned ($0.15) earnings per share.
National-Oilwell Varco (NYSE:NOV) opened at $36.08 on Thursday. The company has a current ratio of 3.07, a quick ratio of 1.79 and a debt-to-equity ratio of 0.19. National-Oilwell Varco has a 1-year low of $29.90 and a 1-year high of $41.00.
Several institutional investors have recently added to or reduced their stakes in the company. Dupont Capital Management Corp acquired a new position in shares of National-Oilwell Varco during the 4th quarter valued at about $141,000. Global Trust Asset Management LLC acquired a new position in shares of National-Oilwell Varco during the 4th quarter valued at about $160,000. CoreCommodity Management LLC acquired a new position in shares of National-Oilwell Varco during the 4th quarter valued at about $162,000. Avestar Capital LLC acquired a new position in shares of National-Oilwell Varco during the 4th quarter valued at about $176,000. Finally, Cadence Bank NA acquired a new position in shares of National-Oilwell Varco during the 4th quarter valued at about $201,000. 91.10% of the stock is owned by institutional investors and hedge funds.
In other news, VP Scott K. Duff sold 7,421 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $35.66, for a total transaction of $264,632.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is owned by corporate insiders.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Thursday, March 15th. National-Oilwell Varco’s payout ratio is -31.75%.
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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