National-Oilwell Varco Stock Rating Reaffirmed by JPMorgan Chase & Co. (NOV)
National-Oilwell Varco (NYSE:NOV)‘s stock had its “overweight” rating reiterated by research analysts at JPMorgan Chase & Co. in a report released on Friday. They currently have a $94.00 price objective on the stock, down from their previous price objective of $97.00. JPMorgan Chase & Co.’s price target suggests a potential upside of 14.52% from the company’s current price.
In other National-Oilwell Varco news, Director Ben A. Guill sold 23,990 shares of the company’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $82.51, for a total value of $1,979,414.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
National-Oilwell Varco (NYSE:NOV) opened at 82.08 on Friday. National-Oilwell Varco has a 1-year low of $66.01 and a 1-year high of $84.71. The stock’s 50-day moving average is $80.85 and its 200-day moving average is $78.58. The company has a market cap of $35.216 billion and a P/E ratio of 14.52.
National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Monday, April 28th. The company reported $1.40 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.39 by $0.01. The company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter last year, the company posted $1.29 earnings per share. National-Oilwell Varco’s revenue was up 8.9% compared to the same quarter last year. On average, analysts predict that National-Oilwell Varco will post $6.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 27th. Investors of record on Friday, June 13th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Wednesday, June 11th. This is an increase from National-Oilwell Varco’s previous quarterly dividend of $0.26.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of National-Oilwell Varco in a research note on Thursday, May 8th. They now have a $85.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of National-Oilwell Varco in a research note on Tuesday, April 29th. They now have a $96.00 price target on the stock. Finally, analysts at Global Hunter Securities downgraded shares of National-Oilwell Varco from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 29th. They now have a $80.00 price target on the stock, down previously from $90.00. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. National-Oilwell Varco currently has an average rating of “Buy” and a consensus price target of $90.62.
National Oilwell Varco, Inc is a provider of equipment and components used in oil and gas drilling and production operations, oilfield services, and supply chain integration services to the upstream oil and gas industry.
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