National-Oilwell Varco, Inc. (NYSE:NOV) Receives $34.67 Consensus Price Target from Brokerages

National-Oilwell Varco, Inc. (NYSE:NOV) has been assigned an average rating of “Hold” from the thirty-three research firms that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $34.22.

A number of research analysts have recently weighed in on the stock. Citigroup upgraded shares of National-Oilwell Varco from a “neutral” rating to a “buy” rating and raised their price target for the company from $23.00 to $28.00 in a report on Wednesday, July 31st. UBS Group set a $25.00 price target on shares of National-Oilwell Varco and gave the company a “hold” rating in a report on Wednesday, July 31st. Seaport Global Securities upgraded shares of National-Oilwell Varco from a “sell” rating to a “neutral” rating in a report on Wednesday, July 31st. Cowen restated a “market perform” rating and set a $27.00 price target (up previously from $25.00) on shares of National-Oilwell Varco in a report on Wednesday, July 31st. Finally, Johnson Rice downgraded shares of National-Oilwell Varco from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a report on Monday, July 15th.

In other National-Oilwell Varco news, insider Joseph W. Rovig sold 22,640 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric L. Mattson sold 4,750 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $21.02, for a total transaction of $99,845.00. Following the completion of the sale, the director now owns 64,503 shares in the company, valued at $1,355,853.06. The disclosure for this sale can be found here. Company insiders own 0.92% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale grew its position in National-Oilwell Varco by 17.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 41,610 shares of the oil and gas exploration company’s stock worth $2,029,000 after purchasing an additional 6,265 shares during the last quarter. Berman Capital Advisors LLC boosted its position in shares of 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. Penserra Capital Management LLC boosted its position in shares of National-Oilwell Varco by 292.1% during the 1st quarter. Penserra Capital Management LLC now owns 5,301 shares of the oil and gas exploration company’s stock valued at $140,000 after acquiring an additional 3,949 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of National-Oilwell Varco during the 2nd quarter valued at about $4,268,000. Finally, Reliance Trust Co. of Delaware boosted its position in shares of National-Oilwell Varco by 76.7% during the 1st quarter. Reliance Trust Co. of Delaware now owns 23,391 shares of the oil and gas exploration company’s stock valued at $624,000 after acquiring an additional 10,153 shares in the last quarter. Institutional investors own 94.99% of the company’s stock.

Shares of National-Oilwell Varco stock traded up $0.20 during midday trading on Wednesday, reaching $19.08. 2,500,800 shares of the company’s stock traded hands, compared to its average volume of 4,234,477. The company has a market cap of $7.19 billion, a price-to-earnings ratio of -238.50 and a beta of 1.30. The company’s 50 day simple moving average is $21.07 and its 200 day simple moving average is $24.47. 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 has a 52 week low of $18.05 and a 52 week high of $47.46.

National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Monday, July 29th. The oil and gas exploration company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The business had revenue of $2.13 billion for 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 0.64%. As a group, equities research analysts predict that National-Oilwell Varco will post -0.02 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.20 annualized dividend and a yield of 1.05%. National-Oilwell Varco’s dividend payout ratio (DPR) is presently -250.00%.

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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Analyst Recommendations for National-Oilwell Varco (NYSE:NOV)

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