National Oilwell Varco (NYSE:NOV) – Research analysts at FBR & Co upped their FY2016 EPS estimates for shares of National Oilwell Varco in a research note issued to investors on Tuesday. FBR & Co analyst T. Curran now anticipates that the brokerage will earn ($0.92) per share for the year, up from their previous estimate of ($0.95). FBR & Co also issued estimates for National Oilwell Varco’s Q4 2016 earnings at ($0.22) EPS, Q1 2017 earnings at ($0.19) EPS, Q2 2017 earnings at ($0.13) EPS, Q3 2017 earnings at ($0.05) EPS, Q4 2017 earnings at ($0.01) EPS and FY2017 earnings at ($0.38) EPS.

Several other research firms have also recently weighed in on NOV. Citigroup Inc. cut shares of National Oilwell Varco from a “neutral” rating to a “sell” rating and reduced their target price for the company from $37.00 to $30.00 in a research note on Monday, October 3rd. Zacks Investment Research cut shares of National Oilwell Varco from a “buy” rating to a “hold” rating in a research note on Tuesday, October 18th. Seaport Global Securities reiterated a “neutral” rating on shares of National Oilwell Varco in a research note on Friday, August 19th. Nomura set a $29.00 target price on shares of National Oilwell Varco and gave the company a “hold” rating in a research note on Tuesday, August 16th. Finally, Jefferies Group reiterated a “hold” rating and issued a $32.00 target price on shares of National Oilwell Varco in a research note on Monday, August 1st. Three equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $34.67.

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

National Oilwell Varco (NYSE:NOV) opened at 33.34 on Thursday. The stock’s 50 day moving average price is $35.01 and its 200 day moving average price is $33.80. National Oilwell Varco has a 12 month low of $25.74 and a 12 month high of $38.89. The firm’s market capitalization is $12.59 billion.

National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Thursday, October 27th. The oil and gas exploration company reported ($0.34) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by $0.06. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.68 billion. National Oilwell Varco had a negative return on equity of 0.71% and a negative net margin of 38.90%. The business’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 earnings per share.

Several large investors have recently modified their holdings of NOV. Quantum Capital Management bought a new stake in shares of National Oilwell Varco during the first quarter worth approximately $335,000. Lombard Odier & Cie Canada Limited Partnership raised its stake in shares of National Oilwell Varco by 3.7% in the first quarter. Lombard Odier & Cie Canada Limited Partnership now owns 18,400 shares of the oil and gas exploration company’s stock worth $571,000 after buying an additional 650 shares during the last quarter. Lombard Odier Transatlantic Limited Partnership raised its stake in shares of National Oilwell Varco by 83.1% in the first quarter. Lombard Odier Transatlantic Limited Partnership now owns 30,300 shares of the oil and gas exploration company’s stock worth $942,000 after buying an additional 13,750 shares during the last quarter. Mountain Lake Investment Management LLC raised its stake in shares of National Oilwell Varco by 12.5% in the first quarter. Mountain Lake Investment Management LLC now owns 225,000 shares of the oil and gas exploration company’s stock worth $6,998,000 after buying an additional 25,000 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of National Oilwell Varco by 0.5% in the first quarter. Arizona State Retirement System now owns 101,901 shares of the oil and gas exploration company’s stock worth $3,169,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

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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