Q1 2018 EPS Estimates for National Oilwell Varco (NOV) Decreased by Seaport Global Securities
National Oilwell Varco (NYSE:NOV) – Investment analysts at Seaport Global Securities cut their Q1 2018 earnings per share (EPS) estimates for National Oilwell Varco in a research note issued on Wednesday. Seaport Global Securities analyst M. Brown now expects that the firm will post earnings of $0.05 per share for the quarter, down from their previous forecast of $0.08. Seaport Global Securities has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for National Oilwell Varco’s Q2 2018 earnings at $0.18 EPS, Q3 2018 earnings at $0.29 EPS and FY2018 earnings at $0.96 EPS.
National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data on Thursday, July 28th. The oil and gas exploration company reported ($0.30) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.02. National Oilwell Varco had a positive return on equity of 1.83% and a negative net margin of 17.14%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the business earned $0.77 EPS. The company’s quarterly revenue was down 55.9% compared to the same quarter last year.
Several other equities research analysts have also weighed in on NOV. Citigroup Inc. lowered National Oilwell Varco from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $37.00 to $30.00 in a research note on Monday, October 3rd. Nomura set a $29.00 price objective on National Oilwell Varco and gave the company a “hold” rating in a research note on Tuesday, August 16th. Jefferies Group reiterated a “hold” rating and issued a $32.00 price objective on shares of National Oilwell Varco in a research note on Monday, August 1st. Credit Suisse Group AG reiterated a “sell” rating and issued a $23.00 price objective on shares of National Oilwell Varco in a research note on Friday, July 29th. Finally, BMO Capital Markets reiterated a “sell” rating and issued a $25.00 price objective on shares of National Oilwell Varco in a research note on Friday, July 29th. Five equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have assigned a buy rating to the company. National Oilwell Varco has an average rating of “Hold” and a consensus price target of $34.70.
National Oilwell Varco (NYSE:NOV) traded down 0.41% during mid-day trading on Thursday, hitting $36.14. The stock had a trading volume of 1,992,380 shares. The stock has a 50 day moving average of $34.65 and a 200-day moving average of $33.05. The firm’s market cap is $13.65 billion. National Oilwell Varco has a 1-year low of $25.74 and a 1-year high of $40.24.
Several institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Investment Management Company LLC boosted its position in shares of National Oilwell Varco by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 14,384 shares of the oil and gas exploration company’s stock valued at $484,000 after buying an additional 36 shares during the last quarter. Commerce Bank boosted its position in shares of National Oilwell Varco by 0.9% in the second quarter. Commerce Bank now owns 8,661 shares of the oil and gas exploration company’s stock valued at $292,000 after buying an additional 78 shares during the last quarter. First Foundation Advisors boosted its position in shares of National Oilwell Varco by 0.8% in the second quarter. First Foundation Advisors now owns 10,739 shares of the oil and gas exploration company’s stock valued at $361,000 after buying an additional 81 shares during the last quarter. Charter Trust Co. boosted its position in shares of National Oilwell Varco by 2.3% in the second quarter. Charter Trust Co. now owns 8,815 shares of the oil and gas exploration company’s stock valued at $297,000 after buying an additional 200 shares during the last quarter. Finally, Pacific Global Investment Management CO boosted its position in shares of National Oilwell Varco by 3.2% in the first quarter. Pacific Global Investment Management CO now owns 8,215 shares of the oil and gas exploration company’s stock valued at $255,000 after buying an additional 252 shares during the last quarter. Institutional investors own 94.11% of the company’s stock.
In other news, VP Scott K. Duff sold 3,181 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $33.40, for a total value of $106,245.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is owned by insiders.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 14th. National Oilwell Varco’s payout ratio is -4.40%.
National Oilwell Varco Company Profile
National Oilwell Varco, Inc (NOV) is engaged in providing design, manufacture and sale of equipment and components used in oil and gas drilling, completion and production operations. The Company operates through four segments: Rig Systems, which makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore; Rig Aftermarket, which provides aftermarket products and services to support land and offshore rigs, and drilling rig components manufactured by the Company’s Rig Systems segment; Wellbore Technologies, which sells and rents solids control equipment, and provides solids control, waste management and drilling fluids services, and Completion & Production Solutions, which provides technologies for well completions and oil and gas production.
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