National-Oilwell Varco (NYSE:NOV) Trading Down 1.7%

National-Oilwell Varco, Inc. (NYSE:NOV)’s stock price traded down 1.7% on Thursday . The stock traded as low as $18.69 and last traded at $18.42, 2,524,679 shares were traded during trading. A decline of 54% from the average session volume of 5,531,439 shares. The stock had previously closed at $18.74.

Several research analysts have weighed in on the company. Raymond James boosted their price target on National-Oilwell Varco from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. UBS Group set a $25.00 price target on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Piper Jaffray Companies set a $25.00 price target on National-Oilwell Varco and gave the stock a “buy” rating in a research report on Monday, July 1st. Citigroup raised National-Oilwell Varco from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $23.00 to $28.00 in a research report on Wednesday, July 31st. Finally, Cowen reaffirmed a “market perform” rating and set a $27.00 price target (up previously from $25.00) on shares of National-Oilwell Varco in a research report on Wednesday, July 31st. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the stock. National-Oilwell Varco currently has an average rating of “Hold” and a consensus target price of $34.24.

The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.76 and a current ratio of 3.05. The business has a fifty day simple moving average of $21.39 and a 200 day simple moving average of $24.66. The stock has a market capitalization of $7.23 billion, a price-to-earnings ratio of -233.00 and a beta of 1.30.

National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Monday, July 29th. The oil and gas exploration company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. National-Oilwell Varco had a negative return on equity of 0.64% and a negative net margin of 63.23%. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.08 billion. On average, sell-side analysts forecast that National-Oilwell Varco, Inc. will post -0.02 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, September 12th. National-Oilwell Varco’s dividend payout ratio is -250.00%.

In other National-Oilwell Varco news, Director Eric L. Mattson sold 4,750 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $21.02, for a total value of $99,845.00. Following the transaction, the director now directly owns 64,503 shares of the company’s stock, valued at approximately $1,355,853.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.92% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Securian Asset Management Inc increased its holdings in National-Oilwell Varco by 1.2% in the 1st quarter. Securian Asset Management Inc now owns 39,161 shares of the oil and gas exploration company’s stock worth $1,043,000 after purchasing an additional 480 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in National-Oilwell Varco by 0.9% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 58,266 shares of the oil and gas exploration company’s stock worth $1,552,000 after purchasing an additional 520 shares in the last quarter. Alps Advisors Inc. increased its holdings in National-Oilwell Varco by 2.1% in the 2nd quarter. Alps Advisors Inc. now owns 27,402 shares of the oil and gas exploration company’s stock worth $609,000 after purchasing an additional 558 shares in the last quarter. Heartland Advisors Inc. increased its holdings in National-Oilwell Varco by 2.2% in the 2nd quarter. Heartland Advisors Inc. now owns 26,669 shares of the oil and gas exploration company’s stock worth $593,000 after purchasing an additional 570 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in National-Oilwell Varco by 33.6% in the 1st quarter. Parallel Advisors LLC now owns 2,334 shares of the oil and gas exploration company’s stock worth $62,000 after purchasing an additional 587 shares in the last quarter. 95.64% of the stock is currently owned by hedge funds and other institutional investors.

About National-Oilwell Varco (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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