National Oilwell Varco, Inc. (NYSE:NOV) – Analysts at Seaport Global Securities boosted their Q3 2018 earnings per share estimates for shares of National Oilwell Varco in a research report issued to clients and investors on Friday. Seaport Global Securities analyst S. Randhawa now expects that the oil and gas exploration company will earn $0.06 per share for the quarter, up from their prior estimate of $0.04. Seaport Global Securities currently has a “Sell” rating on the stock. Seaport Global Securities also issued estimates for National Oilwell Varco’s Q4 2018 earnings at $0.11 EPS, Q1 2019 earnings at $0.16 EPS and Q2 2019 earnings at $0.22 EPS.

NOV has been the topic of several other research reports. ValuEngine raised National Oilwell Varco from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Wells Fargo & Company reaffirmed a “market perform” rating on shares of National Oilwell Varco in a report on Monday, July 10th. Jefferies Group LLC reaffirmed a “hold” rating and set a $34.00 price objective (down previously from $38.00) on shares of National Oilwell Varco in a report on Monday, July 31st. Cowen and Company reaffirmed a “hold” rating and set a $37.00 price objective on shares of National Oilwell Varco in a report on Tuesday, July 11th. Finally, Zacks Investment Research raised National Oilwell Varco from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $38.14.

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Shares of National Oilwell Varco (NOV) opened at 33.18 on Monday. The firm’s 50-day moving average price is $33.02 and its 200 day moving average price is $36.10. The stock’s market cap is $12.61 billion. National Oilwell Varco has a 1-year low of $31.02 and a 1-year high of $43.63.

National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.14). The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.78 billion. National Oilwell Varco had a negative return on equity of 2.12% and a negative net margin of 33.24%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.30) EPS.

Several large investors have recently bought and sold shares of NOV. Moody Lynn & Lieberson LLC increased its stake in National Oilwell Varco by 0.4% in the first quarter. Moody Lynn & Lieberson LLC now owns 6,684 shares of the oil and gas exploration company’s stock worth $268,000 after buying an additional 29 shares during the last quarter. Cleararc Capital Inc. increased its position in shares of National Oilwell Varco by 0.7% in the first quarter. Cleararc Capital Inc. now owns 9,243 shares of the oil and gas exploration company’s stock valued at $371,000 after buying an additional 65 shares in the last quarter. First Manhattan Co. increased its position in shares of National Oilwell Varco by 0.3% in the first quarter. First Manhattan Co. now owns 32,934 shares of the oil and gas exploration company’s stock valued at $1,210,000 after buying an additional 98 shares in the last quarter. Fernwood Investment Management LLC increased its position in shares of National Oilwell Varco by 0.6% in the second quarter. Fernwood Investment Management LLC now owns 15,765 shares of the oil and gas exploration company’s stock valued at $519,000 after buying an additional 100 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of National Oilwell Varco by 0.3% in the second quarter. CIBC Asset Management Inc now owns 36,365 shares of the oil and gas exploration company’s stock valued at $1,198,000 after buying an additional 113 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

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.

Earnings History and Estimates for National Oilwell Varco (NYSE:NOV)

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