SunTrust Banks Reiterates $31.00 Price Target for National Oilwell Varco (NOV)

SunTrust Banks set a $31.00 price objective on National Oilwell Varco (NYSE:NOV) in a research note issued to investors on Monday. The brokerage currently has a hold rating on the oil and gas exploration company’s stock.

NOV has been the subject of several other research reports. Cowen raised their target price on National Oilwell Varco from $33.00 to $36.00 and gave the stock a market perform rating in a research note on Thursday, February 8th. TheStreet raised National Oilwell Varco from a d+ rating to a c rating in a research note on Tuesday, February 6th. Zacks Investment Research raised National Oilwell Varco from a sell rating to a hold rating in a research note on Tuesday, March 13th. Seaport Global Securities reiterated a sell rating and issued a $30.00 price target on shares of National Oilwell Varco in a report on Monday, February 12th. Finally, Jefferies Group set a $35.00 price target on National Oilwell Varco and gave the stock a hold rating in a report on Thursday, January 4th. Four investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and four have issued a buy rating to the company’s stock. National Oilwell Varco presently has a consensus rating of Hold and a consensus price target of $36.29.

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NYSE NOV opened at $37.98 on Monday. National Oilwell Varco has a one year low of $29.90 and a one year high of $41.38. The company has a market cap of $15,555.48, a P/E ratio of -90.43, a price-to-earnings-growth ratio of 26.57 and a beta of 0.80. The company has a quick ratio of 1.79, a current ratio of 3.07 and a debt-to-equity ratio of 0.19.

National Oilwell Varco (NYSE:NOV) last released its earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). National Oilwell Varco had a negative return on equity of 1.10% and a negative net margin of 3.24%. The business had revenue of $1.97 billion during the quarter. During the same period in the prior year, the business earned ($0.15) EPS. research analysts predict that National Oilwell Varco will post 0.26 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Friday, March 16th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, March 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%. National Oilwell Varco’s dividend payout ratio is presently -47.62%.

In other news, VP Scott K. Duff sold 7,421 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $35.66, for a total value of $264,632.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.79% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of NOV. Dupont Capital Management Corp bought a new position in shares of National Oilwell Varco in the fourth quarter valued at approximately $141,000. Global Trust Asset Management LLC bought a new position in shares of National Oilwell Varco in the fourth quarter valued at approximately $160,000. CoreCommodity Management LLC bought a new position in shares of National Oilwell Varco in the fourth quarter valued at approximately $162,000. Avestar Capital LLC bought a new position in shares of National Oilwell Varco in the fourth quarter valued at approximately $176,000. Finally, Cadence Bank NA bought a new position in shares of National Oilwell Varco in the fourth quarter valued at approximately $201,000. Institutional investors own 93.51% of the company’s stock.

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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.

Analyst Recommendations for National Oilwell Varco (NYSE:NOV)

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