FBR & Co Weighs in on National Oilwell Varco, Inc.’s FY2017 Earnings (NOV)
National Oilwell Varco, Inc. (NYSE:NOV) – Research analysts at FBR & Co lowered their FY2017 EPS estimates for National Oilwell Varco in a report released on Monday. FBR & Co analyst T. Curran now expects that the oil and gas exploration company will post earnings of ($0.41) per share for the year, down from their previous estimate of ($0.27). FBR & Co has a “Buy” rating on the stock. FBR & Co also issued estimates for National Oilwell Varco’s Q4 2017 earnings at ($0.03) EPS, Q1 2018 earnings at $0.07 EPS, Q2 2018 earnings at $0.16 EPS, Q3 2018 earnings at $0.29 EPS, Q4 2018 earnings at $0.41 EPS, FY2018 earnings at $0.93 EPS, Q1 2019 earnings at $0.41 EPS, Q2 2019 earnings at $0.43 EPS, Q3 2019 earnings at $0.43 EPS and FY2019 earnings at $1.70 EPS.
Several other research analysts have also recently weighed in on NOV. J P Morgan Chase & Co cut their price target on shares of National Oilwell Varco from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday. Citigroup Inc. cut their price target on shares of National Oilwell Varco from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Tuesday. R. F. Lafferty restated a “hold” rating and set a $33.00 price target (down from $38.00) on shares of National Oilwell Varco in a report on Tuesday, August 1st. Barclays PLC dropped their target price on shares of National Oilwell Varco from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Wolfe Research cut shares of National Oilwell Varco from a “market perform” rating to an “underperform” rating in a research note on Tuesday. Six analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $37.92.
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Shares of National Oilwell Varco (NYSE:NOV) opened at 34.19 on Wednesday. The company’s market capitalization is $12.99 billion. The stock has a 50 day moving average of $34.77 and a 200-day moving average of $33.40. National Oilwell Varco has a one year low of $29.90 and a one year high of $43.63.
National Oilwell Varco (NYSE:NOV) last issued its earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.01. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.86 billion. National Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. National Oilwell Varco’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.34) EPS.
Institutional investors have recently bought and sold shares of the stock. IHT Wealth Management LLC increased its holdings in National Oilwell Varco by 1,923.1% during the 2nd quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock worth $112,000 after acquiring an additional 500 shares during the period. FNY Partners Fund LP bought a new stake in National Oilwell Varco during the 1st quarter worth approximately $120,000. Exane Derivatives increased its holdings in National Oilwell Varco by 113.8% during the 2nd quarter. Exane Derivatives now owns 3,985 shares of the oil and gas exploration company’s stock worth $131,000 after acquiring an additional 2,121 shares during the period. Chicago Partners Investment Group LLC bought a new stake in National Oilwell Varco during the 2nd quarter worth approximately $194,000. Finally, Lakeview Capital Partners LLC increased its holdings in National Oilwell Varco by 2.6% during the 2nd quarter. Lakeview Capital Partners LLC now owns 6,194 shares of the oil and gas exploration company’s stock worth $204,000 after acquiring an additional 155 shares during the period. 90.18% of the stock is currently owned by institutional investors and hedge funds.
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.
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