Royal Bank Of Canada set a $37.00 price objective on National Oilwell Varco, Inc. (NYSE:NOV) in a report published on Sunday morning. The firm currently has a hold rating on the oil and gas exploration company’s stock.

Several other analysts have also recently issued reports on the stock. FBR & Co reissued a buy rating and set a $42.00 price target on shares of National Oilwell Varco in a research report on Thursday, August 31st. ValuEngine raised shares of National Oilwell Varco from a sell rating to a hold rating in a research report on Tuesday, July 11th. BMO Capital Markets reissued a sell rating and set a $30.00 price target on shares of National Oilwell Varco in a research report on Thursday, June 22nd. UBS AG reissued a neutral rating and set a $37.00 price target (down previously from $38.00) on shares of National Oilwell Varco in a research report on Monday, July 31st. Finally, Loop Capital raised shares of National Oilwell Varco from a hold rating to a buy rating and set a $40.00 price target on the stock in a research report on Thursday, August 17th. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. National Oilwell Varco currently has a consensus rating of Hold and an average target price of $38.57.

Shares of National Oilwell Varco (NYSE NOV) opened at 35.03 on Friday. The company’s market cap is $13.31 billion. National Oilwell Varco has a 12-month low of $29.90 and a 12-month high of $43.63. The stock has a 50 day moving average of $33.19 and a 200 day moving average of $34.01.

National Oilwell Varco (NYSE:NOV) last issued 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 Thomson Reuters’ consensus estimate of ($0.14). The business 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 company earned ($0.30) earnings per share. Analysts forecast that National Oilwell Varco will post ($0.41) earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given 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 0.57%. National Oilwell Varco’s dividend payout ratio (DPR) is presently -3.31%.

Several institutional investors and hedge funds have recently made changes to their positions in NOV. Oxford Asset Management purchased a new position in shares of National Oilwell Varco during the first quarter worth approximately $780,000. JPMorgan Chase & Co. grew its position in shares of National Oilwell Varco by 54.5% during the first quarter. JPMorgan Chase & Co. now owns 334,550 shares of the oil and gas exploration company’s stock worth $13,413,000 after acquiring an additional 118,002 shares during the last quarter. KBC Group NV grew its position in shares of National Oilwell Varco by 10.1% during the first quarter. KBC Group NV now owns 31,954 shares of the oil and gas exploration company’s stock worth $1,281,000 after acquiring an additional 2,923 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of National Oilwell Varco by 794.2% during the first quarter. Victory Capital Management Inc. now owns 63,517 shares of the oil and gas exploration company’s stock worth $2,546,000 after acquiring an additional 56,414 shares during the last quarter. Finally, Blair William & Co. IL grew its position in shares of National Oilwell Varco by 4.2% during the first quarter. Blair William & Co. IL now owns 9,054 shares of the oil and gas exploration company’s stock worth $366,000 after acquiring an additional 364 shares during the last quarter. Institutional investors and hedge funds 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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