National Oilwell Varco (NYSE:NOV)‘s stock had its “hold” rating reaffirmed by stock analysts at Jefferies Group in a research report issued to clients and investors on Wednesday.

NOV has been the subject of a number of other research reports. Citigroup Inc. upgraded shares of National Oilwell Varco from a “sell” rating to a “neutral” rating and increased their price objective for the company from $30.00 to $33.00 in a report on Monday, November 7th. Societe Generale upgraded shares of National Oilwell Varco from a “sell” rating to a “hold” rating and increased their price objective for the company from $32.10 to $35.00 in a report on Monday, October 31st. Zacks Investment Research downgraded shares of National Oilwell Varco from a “buy” rating to a “hold” rating in a report on Tuesday, October 18th. Seaport Global Securities reiterated a “neutral” rating on shares of National Oilwell Varco in a report on Friday, August 19th. Finally, Nomura set a $29.00 price objective on shares of National Oilwell Varco and gave the company a “hold” rating in a report on Tuesday, August 16th. Three research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $34.67.

Analyst Recommendations for National Oilwell Varco (NYSE:NOV)

Shares of National Oilwell Varco (NYSE:NOV) opened at 35.31 on Wednesday. National Oilwell Varco has a 1-year low of $25.74 and a 1-year high of $38.89. The company’s market cap is $13.34 billion. The stock’s 50 day moving average is $35.15 and its 200 day moving average is $33.87.

National Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Thursday, October 27th. The oil and gas exploration company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.28) by $0.06. National Oilwell Varco had a negative return on equity of 0.71% and a negative net margin of 38.90%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the company earned $0.61 EPS. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. On average, analysts predict that National Oilwell Varco will post ($1.00) earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.57%. National Oilwell Varco’s dividend payout ratio is currently -2.33%.

A number of large investors have recently made changes to their positions in the company. National Pension Service raised its position in National Oilwell Varco by 4.4% in the first quarter. National Pension Service now owns 247,049 shares of the oil and gas exploration company’s stock worth $7,683,000 after buying an additional 10,498 shares in the last quarter. Legal & General Group Plc raised its position in National Oilwell Varco by 10.2% in the first quarter. Legal & General Group Plc now owns 1,946,920 shares of the oil and gas exploration company’s stock worth $60,553,000 after buying an additional 180,873 shares in the last quarter. Envestnet Asset Management Inc. raised its position in National Oilwell Varco by 10.2% in the first quarter. Envestnet Asset Management Inc. now owns 126,174 shares of the oil and gas exploration company’s stock worth $3,924,000 after buying an additional 11,628 shares in the last quarter. Jones Financial Companies Lllp raised its position in National Oilwell Varco by 12.9% in the first quarter. Jones Financial Companies Lllp now owns 39,117 shares of the oil and gas exploration company’s stock worth $1,217,000 after buying an additional 4,482 shares in the last quarter. Finally, LPL Financial LLC raised its position in National Oilwell Varco by 14.2% in the first quarter. LPL Financial LLC now owns 102,886 shares of the oil and gas exploration company’s stock worth $2,987,000 after buying an additional 12,756 shares in the last quarter. Hedge funds and other institutional investors own 93.35% 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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