National-Oilwell Varco (NOV) Earns Peer Perform Rating from Analysts at Wolfe Research

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Wolfe Research began coverage on shares of National-Oilwell Varco (NYSE:NOV) in a research report sent to investors on Wednesday, MarketBeat reports. The brokerage issued a peer perform rating on the oil and gas exploration company’s stock.

Other analysts also recently issued research reports about the company. Barclays lifted their price objective on National-Oilwell Varco from $37.00 to $44.00 and gave the stock a hold rating in a research note on Monday, July 30th. Stifel Nicolaus began coverage on National-Oilwell Varco in a research note on Monday, September 10th. They issued a buy rating and a $54.00 price objective on the stock. Credit Suisse Group set a $43.00 price objective on National-Oilwell Varco and gave the stock a hold rating in a research note on Monday, July 30th. Raymond James lifted their price objective on National-Oilwell Varco from $50.00 to $55.00 and gave the stock a buy rating in a research note on Monday, July 30th. Finally, Piper Jaffray Companies reaffirmed a buy rating and issued a $53.00 price objective on shares of National-Oilwell Varco in a research note on Monday, August 6th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $44.32.

NYSE:NOV opened at $41.91 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.75 and a current ratio of 3.19. National-Oilwell Varco has a 1 year low of $31.47 and a 1 year high of $49.08. The company has a market capitalization of $16.48 billion, a price-to-earnings ratio of -99.79, a PEG ratio of 46.67 and a beta of 0.93.

National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Thursday, July 26th. The oil and gas exploration company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.04. National-Oilwell Varco had a negative return on equity of 0.60% and a negative net margin of 1.09%. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the previous year, the company posted ($0.14) EPS. The company’s revenue was up 19.7% compared to the same quarter last year. On average, equities analysts expect that National-Oilwell Varco will post 0.15 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Thursday, September 13th. National-Oilwell Varco’s dividend payout ratio (DPR) is presently -47.62%.

In other news, VP Craig L. Weinstock sold 3,709 shares of the business’s stock in a transaction on Monday, July 30th. The stock was sold at an average price of $48.02, for a total value of $178,106.18. Following the completion of the transaction, the vice president now directly owns 42,663 shares of the company’s stock, valued at approximately $2,048,677.26. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Craig L. Weinstock sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $47.45, for a total value of $1,186,250.00. Following the completion of the transaction, the vice president now directly owns 67,663 shares of the company’s stock, valued at $3,210,609.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 514,559 shares of company stock valued at $24,588,009. 0.79% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOV. Independent Order of Foresters increased its position in National-Oilwell Varco by 19.7% during the 2nd quarter. Independent Order of Foresters now owns 7,281 shares of the oil and gas exploration company’s stock valued at $316,000 after buying an additional 1,200 shares in the last quarter. State Treasurer State of Michigan boosted its stake in shares of National-Oilwell Varco by 1.1% in the second quarter. State Treasurer State of Michigan now owns 113,078 shares of the oil and gas exploration company’s stock worth $4,908,000 after buying an additional 1,200 shares during the last quarter. Whittier Trust Co. boosted its stake in shares of National-Oilwell Varco by 180.6% in the second quarter. Whittier Trust Co. now owns 2,455 shares of the oil and gas exploration company’s stock worth $202,000 after buying an additional 1,580 shares during the last quarter. MUFG Americas Holdings Corp boosted its stake in shares of National-Oilwell Varco by 29.8% in the second quarter. MUFG Americas Holdings Corp now owns 7,183 shares of the oil and gas exploration company’s stock worth $312,000 after buying an additional 1,650 shares during the last quarter. Finally, Dupont Capital Management Corp boosted its stake in shares of National-Oilwell Varco by 55.9% in the second quarter. Dupont Capital Management Corp now owns 4,960 shares of the oil and gas exploration company’s stock worth $215,000 after buying an additional 1,779 shares during the last quarter. 95.63% of the stock is owned by hedge funds and other institutional investors.

National-Oilwell Varco Company Profile

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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