Shares of National Oilwell Varco, Inc. (NYSE:NOV) have received a consensus rating of “Hold” from the twenty-eight brokerages that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, eighteen have assigned a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $39.11.

NOV has been the subject of a number of recent research reports. BMO Capital Markets reissued a “sell” rating and issued a $30.00 price objective on shares of National Oilwell Varco in a research note on Thursday, June 22nd. Vetr downgraded shares of National Oilwell Varco from a “strong-buy” rating to a “buy” rating and set a $44.47 price objective for the company. in a research note on Wednesday, March 29th. Piper Jaffray Companies raised shares of National Oilwell Varco from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $36.00 to $37.00 in a research note on Tuesday, June 20th. Jefferies Group LLC set a $38.00 price objective on shares of National Oilwell Varco and gave the stock a “hold” rating in a research note on Thursday, April 27th. Finally, ValuEngine downgraded shares of National Oilwell Varco from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in National Oilwell Varco by 1.1% in the first quarter. Vanguard Group Inc. now owns 37,863,383 shares of the oil and gas exploration company’s stock valued at $1,517,944,000 after buying an additional 401,671 shares during the last quarter. First Eagle Investment Management LLC raised its stake in National Oilwell Varco by 2.8% in the first quarter. First Eagle Investment Management LLC now owns 26,052,857 shares of the oil and gas exploration company’s stock valued at $1,044,459,000 after buying an additional 721,441 shares during the last quarter. BlackRock Inc. raised its stake in National Oilwell Varco by 3,189.2% in the first quarter. BlackRock Inc. now owns 24,841,300 shares of the oil and gas exploration company’s stock valued at $995,890,000 after buying an additional 24,086,060 shares during the last quarter. Harris Associates L P raised its stake in National Oilwell Varco by 7.2% in the first quarter. Harris Associates L P now owns 16,017,269 shares of the oil and gas exploration company’s stock valued at $642,133,000 after buying an additional 1,080,775 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in National Oilwell Varco by 2.8% in the first quarter. Clearbridge Investments LLC now owns 13,209,045 shares of the oil and gas exploration company’s stock valued at $529,551,000 after buying an additional 359,809 shares during the last quarter. 91.41% of the stock is currently owned by institutional investors and hedge funds.

National Oilwell Varco (NYSE NOV) traded up 2.77% during mid-day trading on Tuesday, hitting $34.10. The company had a trading volume of 1,343,737 shares. The company has a 50 day moving average of $33.06 and a 200 day moving average of $36.32. National Oilwell Varco has a 1-year low of $29.79 and a 1-year high of $43.63. The firm’s market capitalization is $12.96 billion.

National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Wednesday, April 26th. The oil and gas exploration company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.67 billion. National Oilwell Varco had a negative net margin of 35.50% and a negative return on equity of 2.44%. National Oilwell Varco’s revenue for the quarter was down 20.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. Analysts predict that National Oilwell Varco will post ($0.41) earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Wednesday, June 14th. National Oilwell Varco’s payout ratio is currently -3.12%.

ILLEGAL ACTIVITY WARNING: “National Oilwell Varco, Inc. (NYSE:NOV) Receives Consensus Recommendation of “Hold” from Analysts” was originally posted by American Banking News and is owned by of American Banking News. If you are viewing this report on another publication, it was stolen and republished in violation of U.S. and international trademark & copyright laws. The correct version of this report can be read at https://www.americanbankingnews.com/2017/07/25/national-oilwell-varco-inc-nysenov-receives-consensus-recommendation-of-hold-from-analysts.html.

About National Oilwell Varco

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.

Analyst Recommendations for National Oilwell Varco (NYSE:NOV)

Receive News & Ratings for National Oilwell Varco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Oilwell Varco Inc. and related companies with MarketBeat.com's FREE daily email newsletter.