National-Oilwell Varco, Inc. (NYSE:NOV) – Analysts at Jefferies Group lowered their Q3 2018 earnings estimates for National-Oilwell Varco in a research report issued to clients and investors on Thursday. Jefferies Group analyst B. Handler now expects that the oil and gas exploration company will earn $0.02 per share for the quarter, down from their previous forecast of $0.04. Jefferies Group has a “Hold” rating and a $35.00 price objective on the stock. Jefferies Group also issued estimates for National-Oilwell Varco’s Q4 2018 earnings at $0.10 EPS and FY2018 earnings at $0.05 EPS.

National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. National-Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.34) EPS.

Other research analysts also recently issued research reports about the company. B. Riley restated a “buy” rating on shares of National-Oilwell Varco in a research note on Wednesday, November 1st. ValuEngine upgraded National-Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. Barclays dropped their price target on National-Oilwell Varco from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, October 30th. SunTrust Banks upgraded National-Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Wednesday, November 29th. Finally, Zacks Investment Research downgraded National-Oilwell Varco from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Four analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. National-Oilwell Varco has an average rating of “Hold” and a consensus price target of $38.04.

National-Oilwell Varco (NOV) opened at $38.22 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.75 and a quick ratio of 1.62. National-Oilwell Varco has a 12 month low of $29.90 and a 12 month high of $41.90.

Institutional investors have recently bought and sold shares of the stock. IHT Wealth Management LLC boosted its stake in shares of National-Oilwell Varco by 1,923.1% in the second quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock valued at $112,000 after buying an additional 500 shares in the last quarter. IBM Retirement Fund purchased a new stake in shares of National-Oilwell Varco in the third quarter valued at approximately $200,000. Wrapmanager Inc. purchased a new stake in shares of National-Oilwell Varco in the third quarter valued at approximately $202,000. Smith Salley & Associates purchased a new stake in shares of National-Oilwell Varco in the third quarter valued at approximately $214,000. Finally, Advisor Partners LLC purchased a new stake in shares of National-Oilwell Varco in the third quarter valued at approximately $227,000. Hedge funds and other institutional investors own 92.47% of the company’s stock.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Friday, December 8th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%. National-Oilwell Varco’s dividend payout ratio (DPR) is presently -8.03%.

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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.

Earnings History and Estimates for National-Oilwell Varco (NYSE:NOV)

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