Q4 2019 EPS Estimates for National-Oilwell Varco, Inc. (NOV) Lowered by Analyst

National-Oilwell Varco, Inc. (NYSE:NOV) – Analysts at Seaport Global Securities decreased their Q4 2019 earnings per share (EPS) estimates for shares of National-Oilwell Varco in a research report issued on Tuesday, April 16th, Zacks Investment Research reports. Seaport Global Securities analyst M. Urban now forecasts that the oil and gas exploration company will post earnings of $0.12 per share for the quarter, down from their previous estimate of $0.21. Seaport Global Securities has a “Sell” rating and a $24.00 price objective on the stock. Seaport Global Securities also issued estimates for National-Oilwell Varco’s Q2 2020 earnings at $0.11 EPS, Q3 2020 earnings at $0.20 EPS and Q4 2020 earnings at $0.34 EPS.

Several other research analysts have also recently issued reports on NOV. Cowen set a $23.00 target price on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Friday, April 12th. Zacks Investment Research raised National-Oilwell Varco from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Citigroup set a $31.00 target price on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Wednesday. Gabelli reissued a “buy” rating on shares of National-Oilwell Varco in a research report on Monday, February 11th. Finally, SunTrust Banks dropped their target price on National-Oilwell Varco to $24.00 and set a “hold” rating on the stock in a research report on Tuesday, April 16th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $38.08.

NYSE:NOV traded down $0.21 on Wednesday, hitting $24.90. The stock had a trading volume of 5,086,292 shares, compared to its average volume of 4,782,645. The stock has a market capitalization of $9.69 billion, a price-to-earnings ratio of -311.25 and a beta of 1.20. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.81 and a current ratio of 3.30. National-Oilwell Varco has a 52-week low of $24.04 and a 52-week high of $49.08.

National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Thursday, April 25th. The oil and gas exploration company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.12). The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.99 billion. National-Oilwell Varco had a negative net margin of 0.47% and a negative return on equity of 0.29%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the business earned ($0.18) earnings per share.

A number of institutional investors and hedge funds have recently modified their holdings of NOV. Truvestments Capital LLC bought a new stake in National-Oilwell Varco in the 1st quarter worth approximately $26,000. JOYN Advisors Inc. increased its stake in National-Oilwell Varco by 166.2% in the 4th quarter. JOYN Advisors Inc. now owns 1,046 shares of the oil and gas exploration company’s stock worth $27,000 after acquiring an additional 653 shares during the last quarter. Enlightenment Research LLC bought a new stake in National-Oilwell Varco in the 4th quarter worth approximately $28,000. Moody National Bank Trust Division increased its stake in National-Oilwell Varco by 125.0% in the 1st quarter. Moody National Bank Trust Division now owns 1,233 shares of the oil and gas exploration company’s stock worth $33,000 after acquiring an additional 685 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in National-Oilwell Varco by 2,438.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,065,034 shares of the oil and gas exploration company’s stock worth $41,000 after acquiring an additional 1,023,079 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors.

In related news, VP Scott K. Duff sold 15,125 shares of National-Oilwell Varco stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $28.02, for a total transaction of $423,802.50. Following the sale, the vice president now owns 54,098 shares of the company’s stock, valued at approximately $1,515,825.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.79% of the stock is currently owned by company insiders.

About National-Oilwell Varco

National Oilwell Varco, Inc designs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. It operates in three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. The Wellbore Technologies segment offers various equipment and technologies used to perform drilling operations.

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

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