Seaport Global Securities Comments on National-Oilwell Varco, Inc.’s Q1 2018 Earnings (NOV)

National-Oilwell Varco, Inc. (NYSE:NOV) – Investment analysts at Seaport Global Securities boosted their Q1 2018 earnings per share estimates for shares of National-Oilwell Varco in a note issued to investors on Monday. Seaport Global Securities analyst S. Randhawa now forecasts that the oil and gas exploration company will earn ($0.02) per share for the quarter, up from their previous forecast of ($0.04). Seaport Global Securities has a “Sell” rating and a $30.00 price objective on the stock. Seaport Global Securities also issued estimates for National-Oilwell Varco’s Q2 2018 earnings at $0.03 EPS, Q3 2018 earnings at $0.09 EPS, Q4 2018 earnings at $0.15 EPS, FY2018 earnings at $0.24 EPS, Q1 2019 earnings at $0.18 EPS, Q2 2019 earnings at $0.22 EPS, Q3 2019 earnings at $0.27 EPS and FY2019 earnings at $0.99 EPS.

National-Oilwell Varco (NYSE:NOV) last announced its earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). The business had revenue of $1.97 billion for 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 prior year, the business earned ($0.15) earnings per share.

A number of other equities research analysts also recently weighed in on the stock. Scotiabank set a $37.00 target price on shares of National-Oilwell Varco and gave the company a “hold” rating in a research note on Friday, October 27th. Zacks Investment Research downgraded shares of National-Oilwell Varco from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Royal Bank of Canada set a $37.00 target price on shares of National-Oilwell Varco and gave the company a “hold” rating in a research note on Thursday, December 21st. ValuEngine downgraded shares of National-Oilwell Varco from a “hold” rating to a “sell” rating in a research note on Wednesday, November 15th. Finally, R. F. Lafferty lowered their target price on shares of National-Oilwell Varco from $33.00 to $31.00 and set a “hold” rating on the stock in a research note on Monday, November 6th. Five investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $38.13.

Shares of National-Oilwell Varco (NYSE NOV) opened at $33.66 on Wednesday. The company has a quick ratio of 1.79, a current ratio of 3.07 and a debt-to-equity ratio of 0.19. National-Oilwell Varco has a one year low of $29.90 and a one year high of $41.90.

A number of hedge funds and other institutional investors have recently modified their holdings of NOV. Hotchkis & Wiley Capital Management LLC bought a new position in shares of National-Oilwell Varco in the third quarter worth approximately $226,421,000. Wells Fargo & Company MN grew 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 worth $187,541,000 after purchasing an additional 765,634 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of National-Oilwell Varco by 86.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,639,210 shares of the oil and gas exploration company’s stock worth $59,044,000 after purchasing an additional 760,500 shares during the last quarter. Parnassus Investments CA grew 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 worth $249,616,000 after purchasing an additional 637,925 shares during the last quarter. Finally, First Eagle Investment Management LLC grew 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 worth $967,161,000 after purchasing an additional 563,589 shares during the last quarter. Institutional investors and hedge funds own 91.70% of the company’s stock.

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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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