National-Oilwell Varco (NYSE:NOV) had its price target boosted by Wells Fargo & Co from $22.00 to $24.00 in a research note released on Thursday, BenzingaRatingsTable reports. Wells Fargo & Co currently has a market perform rating on the oil and gas exploration company’s stock.

Other equities research analysts have also issued research reports about the company. ValuEngine raised National-Oilwell Varco from a sell rating to a hold rating in a research report on Thursday, August 1st. Griffin Securities reiterated a hold rating on shares of National-Oilwell Varco in a report on Thursday, August 1st. Jefferies Financial Group upgraded National-Oilwell Varco from a hold rating to a buy rating and increased their price objective for the stock from $23.00 to $25.00 in a report on Thursday, September 5th. Seaport Global Securities upgraded National-Oilwell Varco from a sell rating to a neutral rating in a report on Wednesday, July 31st. Finally, Citigroup upgraded National-Oilwell Varco from a neutral rating to a buy rating and increased their price objective for the stock from $23.00 to $28.00 in a report on Wednesday, July 31st. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $31.61.

NYSE NOV opened at $22.81 on Thursday. The firm has a market cap of $8.91 billion, a P/E ratio of -285.13, a P/E/G ratio of 60.26 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.05 and a quick ratio of 1.76. The stock’s 50-day moving average is $20.71 and its 200-day moving average is $23.53. National-Oilwell Varco has a one year low of $18.05 and a one year high of $46.64.

National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Monday, July 29th. The oil and gas exploration company reported ($0.04) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.03. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.08 billion. National-Oilwell Varco had a negative return on equity of 0.64% and a negative net margin of 63.23%. Equities analysts anticipate that National-Oilwell Varco will post 0.03 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.88%. National-Oilwell Varco’s dividend payout ratio (DPR) is currently -250.00%.

In related news, Director Eric L. Mattson sold 4,750 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $21.02, for a total transaction of $99,845.00. Following the sale, the director now owns 64,503 shares in the company, valued at approximately $1,355,853.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph W. Rovig sold 22,640 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $18.37, for a total value of $415,896.80. Following the sale, the insider now owns 73,867 shares in the company, valued at approximately $1,356,936.79. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.

Several large investors have recently made changes to their positions in NOV. Geode Capital Management LLC lifted its stake in shares of National-Oilwell Varco by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 4,917,741 shares of the oil and gas exploration company’s stock valued at $126,161,000 after purchasing an additional 298,177 shares during the period. State Board of Administration of Florida Retirement System raised its stake in National-Oilwell Varco by 1.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 585,993 shares of the oil and gas exploration company’s stock worth $15,611,000 after buying an additional 6,651 shares during the period. South Dakota Investment Council acquired a new position in National-Oilwell Varco during the 1st quarter worth approximately $280,000. Nissay Asset Management Corp Japan ADV raised its stake in National-Oilwell Varco by 5.7% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 30,512 shares of the oil and gas exploration company’s stock worth $813,000 after buying an additional 1,651 shares during the period. Finally, OLD National Bancorp IN acquired a new position in National-Oilwell Varco during the 1st quarter worth approximately $226,000. 94.26% of the stock is currently owned by institutional investors.

National-Oilwell Varco Company Profile

National Oilwell Varco, Inc designs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. It operates in three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. The Wellbore Technologies segment offers various equipment and technologies used to perform drilling operations.

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Analyst Recommendations for National-Oilwell Varco (NYSE:NOV)

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