National-Oilwell Varco, Inc. (NYSE:NOV) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday. The brokerage presently has a $44.47 price objective on the oil and gas exploration company’s stock. Vetr‘s target price would indicate a potential upside of 13.41% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Argus raised National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Friday, March 3rd. Zacks Investment Research downgraded National-Oilwell Varco from a “buy” rating to a “hold” rating in a research report on Monday, February 20th. FBR & Co upped their target price on National-Oilwell Varco from $38.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, February 16th. Piper Jaffray Companies set a $36.00 target price on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Wednesday, February 8th. Finally, Scotiabank reaffirmed a “hold” rating and issued a $37.00 target price on shares of National-Oilwell Varco in a research report on Wednesday, February 8th. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $37.89.

Analyst Recommendations for National-Oilwell Varco (NYSE:NOV)

National-Oilwell Varco (NYSE:NOV) traded down 0.25% on Monday, reaching $39.21. The company had a trading volume of 2,009,005 shares. The firm’s market capitalization is $14.85 billion. The stock has a 50 day moving average of $39.19 and a 200 day moving average of $36.95. National-Oilwell Varco has a 12 month low of $26.86 and a 12 month high of $43.63.

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National-Oilwell Varco (NYSE:NOV) last issued its earnings results on Monday, February 6th. The oil and gas exploration company reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.14. National-Oilwell Varco had a negative return on equity of 2.08% and a negative net margin of 33.26%. The company earned $1.69 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the prior year, the business earned $0.23 earnings per share. The company’s revenue was down 37.8% compared to the same quarter last year. On average, analysts anticipate that National-Oilwell Varco will post ($0.36) EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Wednesday, March 15th. National-Oilwell Varco’s dividend payout ratio (DPR) is presently -3.12%.

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In other news, VP Scott K. Duff sold 37,369 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $39.87, for a total transaction of $1,489,902.03. Following the completion of the transaction, the vice president now directly owns 30,559 shares of the company’s stock, valued at $1,218,387.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph W. Rovig sold 49,825 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $41.48, for a total value of $2,066,741.00. Following the transaction, the insider now directly owns 91 shares of the company’s stock, valued at $3,774.68. The disclosure for this sale can be found here. Insiders have sold 91,979 shares of company stock valued at $3,751,823 over the last ninety days. Corporate insiders own 0.17% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. Forte Capital LLC ADV raised its position in National-Oilwell Varco by 16.5% in the third quarter. Forte Capital LLC ADV now owns 12,019 shares of the oil and gas exploration company’s stock valued at $442,000 after buying an additional 1,700 shares during the period. Dalton Greiner Hartman Maher & Co. bought a new position in National-Oilwell Varco during the third quarter valued at approximately $12,393,000. Canandaigua National Bank & Trust Co. bought a new position in National-Oilwell Varco during the third quarter valued at approximately $246,000. Capstone Asset Management Co. raised its position in National-Oilwell Varco by 0.8% in the third quarter. Capstone Asset Management Co. now owns 58,520 shares of the oil and gas exploration company’s stock valued at $2,150,000 after buying an additional 490 shares during the period. Finally, Atria Investments LLC raised its position in National-Oilwell Varco by 56.6% in the third quarter. Atria Investments LLC now owns 28,700 shares of the oil and gas exploration company’s stock valued at $1,054,000 after buying an additional 10,374 shares during the period. 94.98% of the stock is owned by institutional investors.

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.

5 Day Chart for NYSE:NOV

To view Vetr’s full report, visit Vetr’s official website.

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