National-Oilwell Varco, Inc. (NYSE:NOV) – Stock analysts at Griffin Securities issued their Q1 2019 earnings per share (EPS) estimates for shares of National-Oilwell Varco in a research report issued to clients and investors on Monday, October 29th, according to Zacks Investment Research. Griffin Securities analyst K. Simpson expects that the oil and gas exploration company will post earnings of $0.06 per share for the quarter. Griffin Securities also issued estimates for National-Oilwell Varco’s Q2 2019 earnings at $0.15 EPS, Q3 2019 earnings at $0.20 EPS, Q4 2019 earnings at $0.34 EPS and FY2020 earnings at $1.55 EPS.
NOV has been the subject of several other research reports. R. F. Lafferty raised shares of National-Oilwell Varco from a “hold” rating to a “buy” rating and boosted their target price for the company from $41.00 to $51.00 in a research note on Tuesday, August 21st. Tudor Pickering upgraded National-Oilwell Varco from a “hold” rating to a “buy” rating in a report on Monday, November 5th. Zacks Investment Research restated a “strong sell” rating on shares of National-Oilwell Varco in a report on Wednesday, November 14th. Edward Jones cut National-Oilwell Varco from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Finally, Morgan Stanley began coverage on National-Oilwell Varco in a report on Tuesday, September 18th. They issued an “equal weight” rating and a $50.00 price target for the company. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company’s stock. National-Oilwell Varco presently has a consensus rating of “Hold” and an average price target of $43.27.
NOV stock traded up $0.73 during trading on Tuesday, hitting $32.55. The stock had a trading volume of 2,520,466 shares, compared to its average volume of 4,270,084. National-Oilwell Varco has a 1-year low of $31.48 and a 1-year high of $49.08. The company has a market capitalization of $12.20 billion, a price-to-earnings ratio of -77.50 and a beta of 1.03. The company has a current ratio of 3.17, a quick ratio of 1.78 and a debt-to-equity ratio of 0.19.
Institutional investors and hedge funds have recently made changes to their positions in the business. Quad Cities Investment Group LLC acquired a new position in shares of National-Oilwell Varco in the 2nd quarter valued at approximately $104,000. Cerebellum GP LLC acquired a new position in shares of National-Oilwell Varco in the 3rd quarter valued at approximately $163,000. First Hawaiian Bank acquired a new position in shares of National-Oilwell Varco in the 3rd quarter valued at approximately $174,000. Point72 Hong Kong Ltd acquired a new position in shares of National-Oilwell Varco in the 3rd quarter valued at approximately $179,000. Finally, Captrust Financial Advisors raised its position in shares of National-Oilwell Varco by 520.5% in the 3rd quarter. Captrust Financial Advisors now owns 4,443 shares of the oil and gas exploration company’s stock valued at $191,000 after purchasing an additional 3,727 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors.
In related news, Director Eric L. Mattson sold 5,284 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $45.06, for a total transaction of $238,097.04. Following the transaction, the director now directly owns 66,862 shares of the company’s stock, valued at approximately $3,012,801.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric L. Mattson sold 11,112 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $45.34, for a total value of $503,818.08. Following the completion of the transaction, the director now directly owns 66,862 shares in the company, valued at $3,031,523.08. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Thursday, December 6th. National-Oilwell Varco’s dividend payout ratio (DPR) is presently -47.62%.
National-Oilwell Varco announced that its board has initiated a stock buyback plan on Tuesday, November 6th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the oil and gas exploration company to purchase up to 3.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
National-Oilwell Varco Company Profile
National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.
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