National-Oilwell Varco, Inc. (NYSE:NOV) – Equities researchers at Griffin Securities cut their Q3 2019 earnings per share (EPS) estimates for National-Oilwell Varco in a report released on Friday, May 10th. Griffin Securities analyst K. Simpson now forecasts that the oil and gas exploration company will post earnings of $0.02 per share for the quarter, down from their prior forecast of $0.06. Griffin Securities also issued estimates for National-Oilwell Varco’s Q4 2019 earnings at $0.08 EPS.
NOV has been the subject of several other reports. SunTrust Banks cut their target price on shares of National-Oilwell Varco to $24.00 and set a “hold” rating for the company in a research note on Tuesday, April 16th. Citigroup raised their target price on shares of National-Oilwell Varco from $29.00 to $31.00 and gave the company a “neutral” rating in a research note on Tuesday, April 30th. Raymond James cut their target price on shares of National-Oilwell Varco from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday, April 15th. Barclays set a $32.00 target price on shares of National-Oilwell Varco and gave the company a “hold” rating in a research note on Saturday, February 9th. Finally, Gabelli reaffirmed a “buy” rating on shares of National-Oilwell Varco in a research note on Monday, February 11th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $38.08.
National-Oilwell Varco (NYSE:NOV) last posted its earnings results on Thursday, April 25th. The oil and gas exploration company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.12). The company 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 business’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.18) earnings per share.
In other National-Oilwell Varco news, VP Scott K. Duff sold 15,125 shares of the stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $28.02, for a total transaction of $423,802.50. Following the completion of the transaction, the vice president now owns 54,098 shares in the company, valued at $1,515,825.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Neuburgh Advisers LLC lifted its holdings in shares of National-Oilwell Varco by 14.6% in the 1st quarter. Neuburgh Advisers LLC now owns 20,262 shares of the oil and gas exploration company’s stock worth $540,000 after acquiring an additional 2,574 shares during the last quarter. Loews Corp bought a new stake in shares of National-Oilwell Varco in the 1st quarter worth about $224,000. Trexquant Investment LP bought a new stake in shares of National-Oilwell Varco in the 1st quarter worth about $1,952,000. Tyers Asset Management LLC lifted its holdings in shares of National-Oilwell Varco by 14.6% in the 1st quarter. Tyers Asset Management LLC now owns 25,788 shares of the oil and gas exploration company’s stock worth $687,000 after acquiring an additional 3,276 shares during the last quarter. Finally, CNA Financial Corp lifted its holdings in shares of National-Oilwell Varco by 29.1% in the 1st quarter. CNA Financial Corp now owns 71,195 shares of the oil and gas exploration company’s stock worth $1,897,000 after acquiring an additional 16,034 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.
National-Oilwell Varco Company Profile
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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