National-Oilwell Varco, Inc. to Post Q3 2018 Earnings of $0.02 Per Share, Jefferies Group Forecasts (NOV)

National-Oilwell Varco, Inc. (NYSE:NOV) – Research analysts at Jefferies Group reduced their Q3 2018 EPS estimates for shares of National-Oilwell Varco in a report issued on Thursday. Jefferies Group analyst B. Handler now forecasts that the oil and gas exploration company will earn $0.02 per share for the quarter, down from their prior estimate of $0.04. Jefferies Group has a “Hold” rating and a $35.00 price target on the stock. Jefferies Group also issued estimates for National-Oilwell Varco’s Q4 2018 earnings at $0.10 EPS and FY2018 earnings at $0.05 EPS.

National-Oilwell Varco (NYSE:NOV) last released its earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. National-Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. The business’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.34) EPS.

NOV has been the subject of several other reports. R. F. Lafferty reduced their target price on National-Oilwell Varco from $33.00 to $31.00 and set a “hold” rating for the company in a research note on Monday, November 6th. FBR & Co restated a “buy” rating on shares of National-Oilwell Varco in a research note on Monday, October 16th. Cowen set a $30.00 price objective on National-Oilwell Varco and gave the stock a “hold” rating in a research note on Friday, October 6th. Scotiabank set a $37.00 price objective on National-Oilwell Varco and gave the stock a “hold” rating in a research note on Friday, October 27th. Finally, Zacks Investment Research upgraded National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Monday, October 9th. Four equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $38.04.

National-Oilwell Varco (NOV) traded up $0.58 during trading on Friday, hitting $38.43. The stock had a trading volume of 2,372,200 shares, compared to its average volume of 2,751,500. The stock has a market cap of $14,510.00, a PE ratio of -15.50, a P/E/G ratio of 19.84 and a beta of 0.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.62 and a current ratio of 2.75. National-Oilwell Varco has a 12 month low of $29.90 and a 12 month high of $41.90.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of National-Oilwell Varco by 2.5% during the second quarter. Vanguard Group Inc. now owns 38,794,232 shares of the oil and gas exploration company’s stock valued at $1,277,882,000 after purchasing an additional 930,849 shares during the period. First Eagle Investment Management LLC increased its holdings in shares of National-Oilwell Varco by 2.1% during the third quarter. First Eagle Investment Management LLC now owns 27,068,594 shares of the oil and gas exploration company’s stock valued at $967,161,000 after purchasing an additional 563,589 shares during the period. BlackRock Inc. increased its holdings in shares of National-Oilwell Varco by 1.4% during the second quarter. BlackRock Inc. now owns 25,195,874 shares of the oil and gas exploration company’s stock valued at $829,954,000 after purchasing an additional 354,574 shares during the period. Harris Associates L P increased its holdings in shares of National-Oilwell Varco by 16.0% during the second quarter. Harris Associates L P now owns 18,574,753 shares of the oil and gas exploration company’s stock valued at $611,852,000 after purchasing an additional 2,557,484 shares during the period. Finally, FMR LLC increased its holdings in shares of National-Oilwell Varco by 6.4% during the second quarter. FMR LLC now owns 9,635,851 shares of the oil and gas exploration company’s stock valued at $317,405,000 after purchasing an additional 581,712 shares during the period. 92.47% of the stock is currently owned by institutional investors.

The business also recently announced a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 8th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.52%. The ex-dividend date was Thursday, December 7th. National-Oilwell Varco’s dividend payout ratio is presently -8.06%.

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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.

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

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