National-Oilwell Varco, Inc. (NYSE:NOV) – Research analysts at Capital One Financial raised their Q1 2018 EPS estimates for National-Oilwell Varco in a research note issued on Wednesday. Capital One Financial analyst J. Gibney now anticipates that the oil and gas exploration company will post earnings per share of ($0.01) for the quarter, up from their previous estimate of ($0.02). Capital One Financial currently has a “Equal Weight” rating on the stock. Capital One Financial also issued estimates for National-Oilwell Varco’s Q2 2018 earnings at $0.02 EPS.
Several other equities research analysts have also recently weighed in on NOV. FBR & Co reiterated a “buy” rating on shares of National-Oilwell Varco in a research report on Monday, October 16th. Zacks Investment Research cut National-Oilwell Varco from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Royal Bank of Canada set a $35.00 price target on National-Oilwell Varco and gave the company a “hold” rating in a research report on Friday, October 27th. Scotiabank set a $37.00 price target on National-Oilwell Varco and gave the company a “hold” rating in a research report on Friday, October 27th. Finally, JPMorgan Chase & Co. decreased their price target on 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. Five equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. National-Oilwell Varco presently has an average rating of “Hold” and a consensus target price of $38.50.
National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). National-Oilwell Varco had a negative return on equity of 1.10% and a negative net margin of 3.24%. The firm had revenue of $1.97 billion for the quarter. During the same quarter in the prior year, the company earned ($0.15) earnings per share.
A number of institutional investors and hedge funds have recently modified their holdings of the business. First Eagle Investment Management LLC boosted its stake in National-Oilwell Varco by 2.1% in 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 buying an additional 563,589 shares in the last quarter. BlackRock Inc. boosted its stake in National-Oilwell Varco by 0.3% in the fourth quarter. BlackRock Inc. now owns 25,257,983 shares of the oil and gas exploration company’s stock worth $909,792,000 after buying an additional 78,663 shares in the last quarter. Parnassus Investments CA boosted its stake in National-Oilwell Varco by 10.1% in 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 buying an additional 637,925 shares in the last quarter. American Century Companies Inc. boosted its stake in National-Oilwell Varco by 4.2% in the fourth quarter. American Century Companies Inc. now owns 6,390,274 shares of the oil and gas exploration company’s stock worth $230,178,000 after buying an additional 255,563 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in National-Oilwell Varco in the third quarter worth approximately $226,421,000. 91.83% of the stock is owned by institutional investors and hedge funds.
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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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