National Oilwell Varco (NYSE:NOV) – Stock analysts at Seaport Global Securities cut their Q3 2016 EPS estimates for shares of National Oilwell Varco in a research note issued to investors on Wednesday. Seaport Global Securities analyst M. Brown now anticipates that the brokerage will earn ($0.31) per share for the quarter, down from their prior estimate of ($0.30). Seaport Global Securities currently has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for National Oilwell Varco’s Q4 2016 earnings at ($0.28) EPS, FY2016 earnings at ($0.95) EPS, Q1 2017 earnings at ($0.25) EPS, Q2 2017 earnings at ($0.20) EPS, Q3 2017 earnings at ($0.13) EPS, Q4 2017 earnings at ($0.02) EPS and FY2017 earnings at ($0.60) EPS.

Several other brokerages have also recently issued reports on NOV. Citigroup Inc. cut National Oilwell Varco from a “neutral” rating to a “sell” rating and dropped their price target for the company from $37.00 to $30.00 in a research report on Monday, October 3rd. Vetr raised National Oilwell Varco from a “buy” rating to a “strong-buy” rating and set a $40.44 price objective on the stock in a report on Tuesday, June 21st. Nomura set a $29.00 price objective on National Oilwell Varco and gave the company a “hold” rating in a report on Tuesday, August 16th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating on shares of National Oilwell Varco in a report on Tuesday, July 5th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $33.00 price objective (up previously from $30.00) on shares of National Oilwell Varco in a report on Monday, July 11th. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and seven have given a buy rating to the stock. National Oilwell Varco currently has an average rating of “Hold” and an average target price of $34.70.

Earnings History and Estimates for National Oilwell Varco (NYSE:NOV)

Shares of National Oilwell Varco (NYSE:NOV) opened at 36.14 on Friday. The company has a 50 day moving average price of $34.68 and a 200 day moving average price of $33.08. The firm’s market cap is $13.65 billion. National Oilwell Varco has a 12-month low of $25.74 and a 12-month high of $40.24.

National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Thursday, July 28th. The oil and gas exploration company reported ($0.30) EPS for the quarter, beating the 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 firm earned $1.72 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the firm earned $0.77 earnings per share. The business’s revenue for the quarter was down 55.9% on a year-over-year basis.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis 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%.

In other news, VP Scott K. Duff sold 3,181 shares of National Oilwell Varco stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $33.40, for a total transaction of $106,245.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.

Several hedge funds have recently made changes to their positions in NOV. Quadrant Capital Group LLC raised its stake in shares of National Oilwell Varco by 13.6% in the second quarter. Quadrant Capital Group LLC now owns 3,126 shares of the oil and gas exploration company’s stock worth $101,000 after buying an additional 375 shares during the last quarter. WFG Advisors LP raised its stake in shares of National Oilwell Varco by 16.1% in the second quarter. WFG Advisors LP now owns 3,790 shares of the oil and gas exploration company’s stock worth $128,000 after buying an additional 526 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in shares of National Oilwell Varco by 27.5% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,100 shares of the oil and gas exploration company’s stock worth $172,000 after buying an additional 1,100 shares during the last quarter. Evercore Wealth Management LLC raised its stake in shares of National Oilwell Varco by 43.7% in the second quarter. Evercore Wealth Management LLC now owns 5,323 shares of the oil and gas exploration company’s stock worth $179,000 after buying an additional 1,618 shares during the last quarter. Finally, Mizuho Asset Management Co. Ltd. raised its stake in shares of National Oilwell Varco by 64.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 5,371 shares of the oil and gas exploration company’s stock worth $181,000 after buying an additional 2,100 shares during the last quarter. 94.11% of the stock is currently owned by institutional investors and hedge funds.

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.

5 Day Chart for NYSE:NOV

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