National-Oilwell Varco (NOV) Trading Down 8.4%

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National-Oilwell Varco, Inc. (NYSE:NOV) fell 8.4% during trading on Friday . The stock traded as low as $26.81 and last traded at $26.87. 9,414,831 shares were traded during mid-day trading, an increase of 152% from the average session volume of 3,741,601 shares. The stock had previously closed at $29.33.

Several research firms have commented on NOV. Seaport Global Securities reissued a “sell” rating and issued a $24.00 target price on shares of National-Oilwell Varco in a report on Monday, February 11th. Piper Jaffray Companies set a $32.00 target price on National-Oilwell Varco and gave the stock a “buy” rating in a report on Wednesday, December 26th. Cowen reissued a “market perform” rating and issued a $29.00 target price (down from $32.00) on shares of National-Oilwell Varco in a report on Monday, February 11th. Raymond James set a $40.00 target price on National-Oilwell Varco and gave the stock a “buy” rating in a report on Friday, February 8th. Finally, Barclays reissued a “hold” rating and issued a $35.00 target price on shares of National-Oilwell Varco in a report on Friday, January 18th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $38.58.

The firm has a market cap of $11.25 billion, a PE ratio of -335.88, a price-to-earnings-growth ratio of 25.81 and a beta of 1.22. The company has a quick ratio of 1.83, a current ratio of 3.11 and a debt-to-equity ratio of 0.19.

National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Wednesday, February 6th. The oil and gas exploration company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.18 billion. National-Oilwell Varco had a negative net margin of 0.37% and a negative return on equity of 0.22%. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.04) earnings per share. As a group, equities analysts predict that National-Oilwell Varco, Inc. will post 0.19 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Thursday, March 14th. National-Oilwell Varco’s payout ratio is currently -250.00%.

In other news, VP Scott K. Duff sold 15,125 shares of the company’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $28.02, for a total transaction of $423,802.50. Following the transaction, the vice president now directly owns 54,098 shares of the company’s stock, valued at $1,515,825.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.79% of the company’s stock.

A number of institutional investors have recently bought and sold shares of NOV. Truvestments Capital LLC purchased a new stake in National-Oilwell Varco during the first quarter valued at $26,000. JOYN Advisors Inc. increased its position in National-Oilwell Varco by 166.2% during the fourth quarter. JOYN Advisors Inc. now owns 1,046 shares of the oil and gas exploration company’s stock valued at $27,000 after acquiring an additional 653 shares during the last quarter. Enlightenment Research LLC purchased a new stake in National-Oilwell Varco during the fourth quarter valued at $28,000. Moody National Bank Trust Division increased its position in National-Oilwell Varco by 125.0% during the first quarter. Moody National Bank Trust Division now owns 1,233 shares of the oil and gas exploration company’s stock valued at $33,000 after acquiring an additional 685 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in National-Oilwell Varco by 2,438.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,065,034 shares of the oil and gas exploration company’s stock valued at $41,000 after acquiring an additional 1,023,079 shares during the last quarter. Institutional investors own 93.47% of the company’s stock.

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National-Oilwell Varco Company Profile (NYSE:NOV)

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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