National Oilwell Varco, Inc. (NYSE:NOV) has been assigned an average recommendation of “Hold” from the twenty-eight analysts that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $38.74.

A number of research firms recently issued reports on NOV. BidaskClub raised shares of National Oilwell Varco from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. Scotiabank set a $37.00 target price on shares of National Oilwell Varco and gave the company a “hold” rating in a research note on Friday, July 28th. Piper Jaffray Companies set a $37.00 target price on shares of National Oilwell Varco and gave the company a “buy” rating in a research note on Thursday, July 27th. SunTrust Banks, Inc. downgraded shares of National Oilwell Varco from a “hold” rating to a “sell” rating and raised their target price for the company from $29.00 to $50.00 in a research note on Monday, August 7th. They noted that the move was a valuation call. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 target price (down previously from $60.00) on shares of National Oilwell Varco in a research note on Wednesday, June 21st.

Shares of National Oilwell Varco (NYSE:NOV) traded up 0.93% during mid-day trading on Wednesday, reaching $34.77. The company had a trading volume of 2,575,253 shares. National Oilwell Varco has a 12-month low of $29.90 and a 12-month high of $43.63. The company’s market capitalization is $13.21 billion. The firm has a 50-day moving average of $31.50 and a 200-day moving average of $34.27.

National Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.14). National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the firm earned ($0.30) earnings per share. National Oilwell Varco’s revenue was up 2.0% on a year-over-year basis. On average, equities analysts anticipate that National Oilwell Varco will post ($0.40) earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.58%. The ex-dividend date is Thursday, September 14th. National Oilwell Varco’s dividend payout ratio is currently -3.31%.

A number of hedge funds have recently modified their holdings of NOV. IHT Wealth Management LLC boosted its holdings in National Oilwell Varco by 1,923.1% in the second quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock worth $112,000 after purchasing an additional 500 shares during the last quarter. FNY Partners Fund LP purchased a new stake in National Oilwell Varco in the first quarter worth approximately $120,000. Exane Derivatives boosted its holdings in National Oilwell Varco by 113.8% in the second quarter. Exane Derivatives now owns 3,985 shares of the oil and gas exploration company’s stock worth $131,000 after purchasing an additional 2,121 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in National Oilwell Varco in the second quarter worth approximately $194,000. Finally, WMS Partners LLC purchased a new stake in National Oilwell Varco in the first quarter worth approximately $200,000. Institutional investors own 90.29% of the company’s stock.

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About National Oilwell Varco

National Oilwell Varco, Inc is an oilfield equipment manufacturer and technology provider. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies and Completion & Production Solutions. The Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore.

Analyst Recommendations for National Oilwell Varco (NYSE:NOV)

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