National-Oilwell Varco, Inc. (NYSE:NOV) was the recipient of some unusual options trading on Tuesday. Investors acquired 9,829 call options on the company. This represents an increase of 3,448% compared to the average volume of 277 call options.
National-Oilwell Varco (NOV) opened at $37.31 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.79 and a current ratio of 3.07. National-Oilwell Varco has a one year low of $29.90 and a one year high of $40.90. The stock has a market capitalization of $14,293.40, a price-to-earnings ratio of -59.22, a PEG ratio of 24.04 and a beta of 0.88.
National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share (EPS) for the quarter, meeting the 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 business had revenue of $1.97 billion for the quarter. During the same period last year, the company earned ($0.15) EPS. analysts forecast that National-Oilwell Varco will post 0.26 EPS for the current fiscal year.
A number of analysts have weighed in on the company. Susquehanna Bancshares set a $35.00 price target on National-Oilwell Varco and gave the company a “hold” rating in a research report on Friday, January 12th. Cowen set a $33.00 price objective on National-Oilwell Varco and gave the stock a “hold” rating in a research note on Thursday, January 11th. Royal Bank of Canada reissued a “hold” rating and issued a $40.00 price objective on shares of National-Oilwell Varco in a research note on Friday, January 19th. B. Riley set a $42.00 price objective on National-Oilwell Varco and gave the stock a “buy” rating in a research note on Friday, January 19th. Finally, Jefferies Group set a $35.00 price objective on National-Oilwell Varco and gave the stock a “hold” rating in a research note on Thursday, January 4th. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. National-Oilwell Varco has an average rating of “Hold” and an average price target of $37.55.
In other National-Oilwell Varco news, VP Scott K. Duff sold 7,421 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $35.66, for a total value of $264,632.86. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.58% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Dupont Capital Management Corp acquired a new position in shares of National-Oilwell Varco during the fourth quarter valued at $141,000. Global Trust Asset Management LLC acquired a new position in shares of National-Oilwell Varco during the fourth quarter valued at $160,000. CoreCommodity Management LLC acquired a new position in shares of National-Oilwell Varco during the fourth quarter valued at $162,000. Avestar Capital LLC acquired a new position in shares of National-Oilwell Varco during the fourth quarter valued at $176,000. Finally, Cadence Bank NA acquired a new position in shares of National-Oilwell Varco during the fourth quarter valued at $201,000. 93.57% of the stock is currently 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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