National-Oilwell Varco, Inc. (NYSE:NOV) insider Joseph W. Rovig sold 22,640 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $18.37, for a total value of $415,896.80. Following the sale, the insider now directly owns 73,867 shares in the company, valued at approximately $1,356,936.79. The sale was disclosed in a filing with the SEC, which is accessible through this link.
NOV traded up $0.67 on Monday, hitting $19.31. 3,813,431 shares of the company were exchanged, compared to its average volume of 4,252,517. The firm has a fifty day simple moving average of $21.39 and a two-hundred day simple moving average of $24.66. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.76 and a current ratio of 3.05. National-Oilwell Varco, Inc. has a 12 month low of $18.05 and a 12 month high of $47.46. The stock has a market capitalization of $7.05 billion, a PE ratio of -241.38 and a beta of 1.30.
National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Monday, July 29th. The oil and gas exploration company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.03. National-Oilwell Varco had a negative return on equity of 0.64% and a negative net margin of 63.23%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.08 billion. On average, equities analysts expect that National-Oilwell Varco, Inc. will post -0.02 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. TRUE Private Wealth Advisors bought a new stake in National-Oilwell Varco during the second quarter valued at about $26,000. Berman Capital Advisors LLC raised its holdings in shares of National-Oilwell Varco by 385.0% in the second quarter. Berman Capital Advisors LLC now owns 1,387 shares of the oil and gas exploration company’s stock worth $30,000 after buying an additional 1,101 shares during the period. Investors Research Corp raised its holdings in shares of National-Oilwell Varco by 250.0% in the second quarter. Investors Research Corp now owns 1,400 shares of the oil and gas exploration company’s stock worth $31,000 after buying an additional 1,000 shares during the period. Rational Advisors LLC raised its holdings in shares of National-Oilwell Varco by 375.4% in the second quarter. Rational Advisors LLC now owns 1,664 shares of the oil and gas exploration company’s stock worth $37,000 after buying an additional 1,314 shares during the period. Finally, CSat Investment Advisory L.P. raised its holdings in shares of National-Oilwell Varco by 124.9% in the second quarter. CSat Investment Advisory L.P. now owns 2,528 shares of the oil and gas exploration company’s stock worth $56,000 after buying an additional 1,404 shares during the period. Institutional investors and hedge funds own 94.99% of the company’s stock.
A number of analysts recently issued reports on the company. Cowen reissued a “market perform” rating and set a $27.00 price objective (up previously from $25.00) on shares of National-Oilwell Varco in a report on Wednesday, July 31st. Citigroup raised National-Oilwell Varco from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $23.00 to $28.00 in a report on Wednesday, July 31st. Piper Jaffray Companies set a $25.00 price objective on National-Oilwell Varco and gave the stock a “buy” rating in a report on Monday, July 1st. Zacks Investment Research cut National-Oilwell Varco from a “hold” rating to a “strong sell” rating in a report on Monday, May 20th. Finally, Susquehanna Bancshares raised National-Oilwell Varco from a “neutral” rating to a “positive” rating and set a $25.00 price objective on the stock in a report on Monday, August 12th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company’s stock. National-Oilwell Varco presently has an average rating of “Hold” and a consensus target price of $34.24.
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.
Featured Story: What is the strike price in options trading?
Receive News & Ratings for National-Oilwell Varco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National-Oilwell Varco and related companies with MarketBeat.com's FREE daily email newsletter.