National-Oilwell Varco Rating Reiterated by Raymond James (NOV)
National-Oilwell Varco (NYSE:NOV)‘s stock had its “outperform” rating reiterated by Raymond James in a research note issued on Thursday. They currently have a $85.00 price target on the stock, down from their previous price target of $90.00. Raymond James’ price target suggests a potential upside of 11.39% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse initiated coverage on shares of National-Oilwell Varco in a research note on Thursday. They set an “outperform” rating and a $90.00 price target on the stock. Separately, analysts at Susquehanna cut their price target on shares of National-Oilwell Varco from $90.00 to $85.00 in a research note on Wednesday. Finally, analysts at Howard Weil cut their price target on shares of National-Oilwell Varco from $90.00 to $82.00 in a research note on Monday. They now have a “sector perform” rating on the stock. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $89.52.
Shares of National-Oilwell Varco (NYSE:NOV) traded up 0.54% during mid-day trading on Thursday, hitting $76.72. 1,479,728 shares of the company’s stock traded hands. National-Oilwell Varco has a 52-week low of $59.5221 and a 52-week high of $76.55. The stock’s 50-day moving average is $73.33 and its 200-day moving average is $70.82. The company has a market cap of $32.916 billion and a price-to-earnings ratio of 13.53.
National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Monday, April 28th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $1.29 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, analysts predict that National-Oilwell Varco will post $6.10 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 2.41%. The ex-dividend date is Wednesday, June 11th. This is an increase from National-Oilwell Varco’s previous quarterly dividend of $0.26.
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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