National-Oilwell Varco, Inc. (NYSE:NOV) – Stock analysts at Seaport Global Securities decreased their Q4 2018 earnings estimates for shares of National-Oilwell Varco in a research report issued to clients and investors on Thursday. Seaport Global Securities analyst M. Brown now forecasts that the oil and gas exploration company will post earnings of $0.18 per share for the quarter, down from their prior estimate of $0.21.

Other equities research analysts also recently issued reports about the company. Vetr upgraded National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $42.13 price target for the company in a report on Monday, February 6th. Societe Generale upgraded National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Thursday, January 19th. Zacks Investment Research upgraded National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Friday, February 10th. Argus upgraded National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Friday, March 3rd. Finally, SunTrust Banks, Inc. started coverage on National-Oilwell Varco in a report on Wednesday, January 18th. They issued a “hold” rating and a $40.00 price target for the company. Four research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $39.05.

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

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National-Oilwell Varco (NYSE:NOV) traded down 2.568% on Friday, reaching $34.715. The company had a trading volume of 4,963,355 shares. The company’s market capitalization is $13.15 billion. National-Oilwell Varco has a 12 month low of $28.54 and a 12 month high of $43.63. The company’s 50 day moving average price is $38.70 and its 200-day moving average price is $37.73.

National-Oilwell Varco (NYSE:NOV) last released its earnings results on Monday, February 6th. The oil and gas exploration company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.14. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.62 billion. National-Oilwell Varco had a negative return on equity of 2.08% and a negative net margin of 33.26%. National-Oilwell Varco’s revenue was down 37.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 earnings per share.

A number of institutional investors have recently bought and sold shares of NOV. Retirement Systems of Alabama raised its position in National-Oilwell Varco by 2.3% in the first quarter. Retirement Systems of Alabama now owns 183,068 shares of the oil and gas exploration company’s stock worth $7,339,000 after buying an additional 4,056 shares during the period. State of Alaska Department of Revenue bought a new position in National-Oilwell Varco during the first quarter worth approximately $443,000. Bright Rock Capital Management LLC raised its position in National-Oilwell Varco by 28.4% in the first quarter. Bright Rock Capital Management LLC now owns 149,000 shares of the oil and gas exploration company’s stock worth $5,973,000 after buying an additional 33,000 shares during the period. Nisa Investment Advisors LLC raised its position in National-Oilwell Varco by 1.3% in the first quarter. Nisa Investment Advisors LLC now owns 169,461 shares of the oil and gas exploration company’s stock worth $6,792,000 after buying an additional 2,245 shares during the period. Finally, DnB Asset Management AS raised its position in National-Oilwell Varco by 17.2% in the first quarter. DnB Asset Management AS now owns 47,745 shares of the oil and gas exploration company’s stock worth $1,914,000 after buying an additional 7,000 shares during the period. Hedge funds and other institutional investors own 94.98% of the company’s stock.

In related news, insider Joseph W. Rovig sold 49,825 shares of National-Oilwell Varco stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $41.48, for a total transaction of $2,066,741.00. Following the completion of the sale, the insider now directly owns 91 shares of the company’s stock, valued at approximately $3,774.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Scott K. Duff sold 4,785 shares of National-Oilwell Varco stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $40.79, for a total value of $195,180.15. Following the sale, the vice president now directly owns 25,121 shares of the company’s stock, valued at $1,024,685.59. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,979 shares of company stock valued at $3,751,823. 0.17% of the stock is currently owned by insiders.

The company also recently declared a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, March 17th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, March 15th. This represents a $0.20 annualized dividend and a yield of 0.56%. National-Oilwell Varco’s payout ratio is currently -3.12%.

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.

5 Day Chart for NYSE:NOV

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