National-Oilwell Varco, Inc. (NYSE:NOV) – Research analysts at Griffin Securities reduced their Q1 2019 earnings per share estimates for shares of National-Oilwell Varco in a report issued on Monday, February 11th. Griffin Securities analyst K. Simpson now forecasts that the oil and gas exploration company will earn ($0.03) per share for the quarter, down from their prior forecast of $0.06. Griffin Securities also issued estimates for National-Oilwell Varco’s Q2 2019 earnings at $0.02 EPS, Q3 2019 earnings at $0.06 EPS, Q4 2019 earnings at $0.15 EPS, FY2019 earnings at $0.20 EPS and FY2020 earnings at $1.00 EPS.
A number of other brokerages have also recently weighed in on NOV. Jefferies Financial Group boosted their price target on shares of National-Oilwell Varco from $42.00 to $46.00 and gave the company a “hold” rating in a research report on Thursday, October 18th. ValuEngine cut shares of National-Oilwell Varco from a “buy” rating to a “hold” rating in a research report on Wednesday, October 17th. BMO Capital Markets set a $38.00 price target on shares of National-Oilwell Varco and gave the company a “sell” rating in a research report on Monday, November 5th. Tudor Pickering raised shares of National-Oilwell Varco from a “hold” rating to a “buy” rating in a research report on Monday, November 5th. Finally, Cowen reduced their price target on shares of National-Oilwell Varco from $45.00 to $42.00 and set a “market perform” rating for the company in a research report on Monday, October 29th. Three 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 stock. National-Oilwell Varco has a consensus rating of “Hold” and a consensus price target of $39.09.
Shares of NOV opened at $29.51 on Thursday. National-Oilwell Varco has a 1-year low of $24.27 and a 1-year high of $49.08. The firm has a market capitalization of $11.04 billion, a P/E ratio of -368.88, a P/E/G ratio of 11.73 and a beta of 1.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.11 and a quick ratio of 1.83.
National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Wednesday, February 6th. The oil and gas exploration company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). National-Oilwell Varco had a negative net margin of 0.37% and a negative return on equity of 0.22%. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period last year, the firm earned ($0.04) earnings per share. National-Oilwell Varco’s revenue was up 21.8% on a year-over-year basis.
National-Oilwell Varco declared that its Board of Directors has initiated a share repurchase program on Tuesday, November 6th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the oil and gas exploration company to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. IMS Capital Management acquired a new position in shares of National-Oilwell Varco during the third quarter worth about $44,000. JOYN Advisors Inc. increased its stake in shares of National-Oilwell Varco by 166.2% during the fourth 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 period. Enlightenment Research LLC acquired a new position in shares of National-Oilwell Varco during the fourth quarter worth about $28,000. Pearl River Capital LLC acquired a new position in shares of National-Oilwell Varco during the fourth quarter worth about $82,000. Finally, Murphy Pohlad Asset Management LLC acquired a new position in shares of National-Oilwell Varco during the fourth quarter worth about $89,000. Institutional investors own 92.16% of the company’s stock.
National-Oilwell Varco Company Profile
National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.
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