National-Oilwell Varco, Inc. (NOV) Lifted to “Strong-Buy” at Vetr Inc.
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.
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.
To view Vetr’s full report, visit Vetr’s official website.
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