National Oilwell Varco, Inc. (NYSE:NOV) – Analysts at SunTrust Banks issued their Q1 2019 EPS estimates for National Oilwell Varco in a note issued to investors on Tuesday. SunTrust Banks analyst K. Sill anticipates that the oil and gas exploration company will earn $0.18 per share for the quarter. SunTrust Banks currently has a “Hold” rating on the stock. SunTrust Banks also issued estimates for National Oilwell Varco’s Q2 2019 earnings at $0.24 EPS, Q3 2019 earnings at $0.31 EPS and FY2019 earnings at $1.12 EPS.
NOV has been the subject of several other reports. Jefferies Group set a $34.00 target price on shares of National Oilwell Varco and gave the company a “hold” rating in a research note on Thursday, October 5th. Piper Jaffray Companies reiterated a “buy” rating and issued a $36.00 target price on shares of National Oilwell Varco in a research note on Tuesday, September 26th. Deutsche Bank started coverage on shares of National Oilwell Varco in a research note on Tuesday, October 10th. They issued a “hold” rating and a $39.00 target price for the company. Citigroup boosted their target price on shares of National Oilwell Varco from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, October 5th. Finally, ValuEngine upgraded shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. Five investment analysts have rated the stock with a sell rating, twenty have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $37.83.
National Oilwell Varco (NYSE:NOV) last announced its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. National Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the business posted ($0.34) EPS. The business’s quarterly revenue was up 11.5% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.20 dividend on an annualized basis and a yield of 0.60%. National Oilwell Varco’s payout ratio is currently -8.03%.
A number of hedge funds and other institutional investors have recently bought and sold shares of NOV. IHT Wealth Management LLC lifted its position in shares of National Oilwell Varco by 1,923.1% during the second quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock worth $112,000 after purchasing an additional 500 shares in the last quarter. IBM Retirement Fund acquired a new stake in shares of National Oilwell Varco during the third quarter worth about $200,000. Wrapmanager Inc. acquired a new stake in shares of National Oilwell Varco during the third quarter worth about $202,000. Chicago Partners Investment Group LLC acquired a new stake in shares of National Oilwell Varco during the second quarter worth about $194,000. Finally, Smith Salley & Associates acquired a new stake in shares of National Oilwell Varco during the third quarter worth about $214,000. 92.57% of the stock is currently 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.
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