Q4 2019 EPS Estimates for National-Oilwell Varco, Inc. Cut by Seaport Global Securities (NOV)

National-Oilwell Varco, Inc. (NYSE:NOV) – Analysts at Seaport Global Securities dropped their Q4 2019 earnings per share estimates for National-Oilwell Varco in a report issued on Monday. Seaport Global Securities analyst S. Randhawa now forecasts that the oil and gas exploration company will post earnings of $0.32 per share for the quarter, down from their previous estimate of $0.33. Seaport Global Securities has a “Sell” rating and a $30.00 price target on the stock.

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

NOV has been the subject of several other reports. Scotiabank set a $37.00 target price on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Friday, October 27th. Zacks Investment Research downgraded 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 $37.00 target price on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Thursday, December 21st. ValuEngine downgraded National-Oilwell Varco from a “hold” rating to a “sell” rating in a research report on Wednesday, November 15th. Finally, R. F. Lafferty decreased their target price on National-Oilwell Varco from $33.00 to $31.00 and set a “hold” rating for the company in a research report on Monday, November 6th. Five research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. National-Oilwell Varco has an average rating of “Hold” and an average price target of $38.13.

National-Oilwell Varco (NYSE:NOV) traded down $0.02 during midday trading on Tuesday, reaching $33.69. 2,910,446 shares of the company’s stock traded hands, compared to its average volume of 3,372,509. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.07 and a quick ratio of 1.79. The stock has a market capitalization of $12,620.00, a price-to-earnings ratio of -53.35, a price-to-earnings-growth ratio of 21.05 and a beta of 0.89. National-Oilwell Varco has a 52 week low of $29.90 and a 52 week high of $41.90.

Several hedge funds have recently added to or reduced their stakes in NOV. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of National-Oilwell Varco in the third quarter valued at about $226,421,000. Wells Fargo & Company MN raised its holdings in shares of National-Oilwell Varco by 17.1% in the third quarter. Wells Fargo & Company MN now owns 5,248,794 shares of the oil and gas exploration company’s stock valued at $187,541,000 after acquiring an additional 765,634 shares in the last quarter. Parnassus Investments CA raised its holdings in shares of 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 valued at $249,616,000 after acquiring an additional 637,925 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in shares of 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 valued at $967,161,000 after acquiring an additional 563,589 shares in the last quarter. Finally, Contrarius Investment Management Ltd raised its holdings in National-Oilwell Varco by 16.4% in 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 purchasing an additional 436,812 shares in the last quarter. Hedge funds and other institutional investors own 91.70% of the company’s stock.

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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.

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

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