Piper Jaffray Companies reissued their buy rating on shares of National Oilwell Varco, Inc. (NYSE:NOV) in a research note released on Tuesday morning. Piper Jaffray Companies currently has a $36.00 price target on the oil and gas exploration company’s stock.

NOV has been the topic of a number of other research reports. FBR & Co reissued a buy rating and issued a $42.00 target price on shares of National Oilwell Varco in a research note on Thursday, August 31st. ValuEngine raised National Oilwell Varco from a sell rating to a hold rating in a research note on Tuesday, July 11th. BMO Capital Markets reissued a sell rating and issued a $30.00 target price on shares of National Oilwell Varco in a research note on Thursday, June 22nd. Royal Bank Of Canada reissued a hold rating on shares of National Oilwell Varco in a research note on Friday, September 1st. Finally, UBS AG reissued a neutral rating and issued a $37.00 target price (down previously from $38.00) on shares of National Oilwell Varco in a research note on Monday, July 31st. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and an average target price of $38.82.

National Oilwell Varco (NYSE:NOV) traded up 0.56% during midday trading on Tuesday, hitting $35.73. The company had a trading volume of 3,008,253 shares. National Oilwell Varco has a 52 week low of $29.90 and a 52 week high of $43.63. The firm’s 50 day moving average is $31.57 and its 200-day moving average is $34.23. The firm’s market capitalization is $13.58 billion.

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 for the quarter, hitting the consensus estimate of ($0.14). The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.78 billion. National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.30) earnings per share. On average, equities research analysts expect that National Oilwell Varco will post ($0.41) EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.56%. National Oilwell Varco’s dividend payout ratio is currently -3.31%.

Institutional investors have recently bought and sold shares of the company. IHT Wealth Management LLC boosted its holdings in shares of National Oilwell Varco by 1,923.1% during 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 period. FNY Partners Fund LP purchased a new stake in shares of National Oilwell Varco during the first quarter worth about $120,000. Exane Derivatives boosted its holdings in shares of National Oilwell Varco by 113.8% during 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 period. WMS Partners LLC purchased a new stake in shares of National Oilwell Varco during the first quarter worth about $200,000. Finally, United Capital Financial Advisers LLC purchased a new stake in shares of National Oilwell Varco during the first quarter worth about $206,000. Institutional investors own 90.29% of the company’s stock.

National Oilwell Varco Company Profile

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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