National-Oilwell Varco, Inc. Forecasted to Earn FY2018 Earnings of $0.30 Per Share (NOV)

National-Oilwell Varco, Inc. (NYSE:NOV) – Analysts at Gabelli decreased their FY2018 earnings per share (EPS) estimates for shares of National-Oilwell Varco in a research report issued on Wednesday. Gabelli analyst S. Wong now forecasts that the oil and gas exploration company will post earnings of $0.30 per share for the year, down from their previous estimate of $0.45.

Several other research firms have also issued reports on NOV. Wolfe Research lowered shares of National-Oilwell Varco from a “market perform” rating to an “underperform” rating in a research report on Tuesday, October 31st. Royal Bank of Canada set a $37.00 price target on shares of National-Oilwell Varco and gave the stock a “hold” rating in a research report on Thursday, December 21st. JPMorgan Chase & Co. dropped 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 research report on Monday, October 30th. Susquehanna Bancshares set a $35.00 price target on shares of National-Oilwell Varco and gave the stock a “hold” rating in a research report on Friday, January 12th. Finally, Zacks Investment Research lowered shares of National-Oilwell Varco from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Five research analysts have rated the stock with a sell rating, seventeen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $38.50.

Shares of National-Oilwell Varco (NYSE NOV) opened at $33.09 on Monday. The company has a current ratio of 3.07, a quick ratio of 1.62 and a debt-to-equity ratio of 0.19. National-Oilwell Varco has a 1 year low of $29.90 and a 1 year high of $41.90. The stock has a market cap of $12,580.00, a price-to-earnings ratio of -52.52, a price-to-earnings-growth ratio of 18.38 and a beta of 0.89.

National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). National-Oilwell Varco had a negative net margin of 3.24% and a negative return on equity of 1.10%. The firm had revenue of $1.97 billion for the quarter. During the same period last year, the company posted ($0.15) earnings per share.

Several institutional investors and hedge funds have recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC bought a new position in National-Oilwell Varco during the third quarter worth about $226,421,000. Wells Fargo & Company MN increased its position in National-Oilwell Varco by 17.1% during the third quarter. Wells Fargo & Company MN now owns 5,248,794 shares of the oil and gas exploration company’s stock worth $187,541,000 after acquiring an additional 765,634 shares during the period. Parnassus Investments CA increased its position in National-Oilwell Varco by 10.1% during the fourth quarter. Parnassus Investments CA now owns 6,929,938 shares of the oil and gas exploration company’s stock worth $249,616,000 after acquiring an additional 637,925 shares during the period. First Eagle Investment Management LLC increased its position in 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 worth $967,161,000 after acquiring an additional 563,589 shares during the period. Finally, Contrarius Investment Management Ltd increased its position in National-Oilwell Varco by 16.4% during the third quarter. Contrarius Investment Management Ltd now owns 3,103,081 shares of the oil and gas exploration company’s stock worth $110,873,000 after acquiring an additional 436,812 shares during the period. 91.83% of the stock is currently owned by institutional investors.

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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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