National-Oilwell Varco, Inc. (NYSE:NOV) – Equities research analysts at Seaport Global Securities boosted their FY2019 earnings per share (EPS) estimates for shares of National-Oilwell Varco in a research report issued on Monday, July 29th. Seaport Global Securities analyst M. Urban now forecasts that the oil and gas exploration company will post earnings per share of ($0.10) for the year, up from their prior estimate of ($0.13). Seaport Global Securities has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for National-Oilwell Varco’s Q4 2019 earnings at $0.11 EPS and Q4 2020 earnings at $0.40 EPS.
A number of other research analysts also recently weighed in on NOV. SunTrust Banks decreased their price objective on shares of National-Oilwell Varco to $24.00 and set a “hold” rating for the company in a research report on Tuesday, April 16th. Raymond James upped their price objective on shares of National-Oilwell Varco from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday. Bank of America reissued an “underperform” rating and set a $20.00 target price (down previously from $26.00) on shares of National-Oilwell Varco in a research note on Tuesday, June 25th. Barclays cut their target price on shares of National-Oilwell Varco from $32.00 to $28.00 and set an “equal weight” rating for the company in a research note on Monday, April 15th. Finally, Citigroup raised shares of National-Oilwell Varco from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $23.00 to $28.00 in a research note on Wednesday. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $35.08.
National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Monday, July 29th. The oil and gas exploration company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.08 billion. National-Oilwell Varco had a negative net margin of 63.23% and a negative return on equity of 43.42%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Truvestments Capital LLC purchased a new stake in National-Oilwell Varco during the 1st quarter valued at about $26,000. TRUE Private Wealth Advisors purchased a new stake in National-Oilwell Varco during the 2nd quarter valued at about $26,000. Moody National Bank Trust Division grew its stake in National-Oilwell Varco by 125.0% during the 1st quarter. Moody National Bank Trust Division now owns 1,233 shares of the oil and gas exploration company’s stock valued at $33,000 after acquiring an additional 685 shares in the last quarter. Berman Capital Advisors LLC grew its stake in National-Oilwell Varco by 385.0% during the 2nd quarter. Berman Capital Advisors LLC now owns 1,387 shares of the oil and gas exploration company’s stock valued at $30,000 after acquiring an additional 1,101 shares in the last quarter. Finally, Investors Research Corp grew its stake in National-Oilwell Varco by 250.0% during the 2nd quarter. Investors Research Corp now owns 1,400 shares of the oil and gas exploration company’s stock valued at $31,000 after acquiring an additional 1,000 shares in the last quarter. 92.89% of the stock is owned by institutional investors.
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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