Analysts predict that National Oilwell Varco, Inc. (NYSE:NOV) will report sales of $1.88 billion for the current quarter, according to Zacks. Seven analysts have made estimates for National Oilwell Varco’s earnings, with the highest sales estimate coming in at $1.98 billion and the lowest estimate coming in at $1.81 billion. National Oilwell Varco reported sales of $1.65 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 13.9%. The company is scheduled to issue its next earnings report on Wednesday, October 25th.
On average, analysts expect that National Oilwell Varco will report full year sales of $1.88 billion for the current fiscal year, with estimates ranging from $7.06 billion to $7.62 billion. For the next financial year, analysts anticipate that the company will post sales of $8.86 billion per share, with estimates ranging from $7.80 billion to $10.21 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover National Oilwell Varco.
National Oilwell Varco (NYSE:NOV) last posted its earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.78 billion. National Oilwell Varco had a negative return on equity of 2.11% and a negative net margin of 33.24%. National Oilwell Varco’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.30) earnings per share.
Several equities research analysts have recently weighed in on the stock. Scotiabank set a $37.00 target price on shares of National Oilwell Varco and gave the stock a “hold” rating in a research report on Friday. Piper Jaffray Companies set a $37.00 target price on shares of National Oilwell Varco and gave the stock a “buy” rating in a research report on Thursday. BidaskClub downgraded shares of National Oilwell Varco from a “sell” rating to a “strong sell” rating in a research report on Thursday. Zacks Investment Research downgraded shares of National Oilwell Varco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, ValuEngine raised shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Four analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $39.35.
Shares of National Oilwell Varco (NYSE NOV) traded down 1.78% during trading on Wednesday, hitting $33.11. The company’s stock had a trading volume of 4,686,302 shares. The firm’s 50 day moving average price is $33.13 and its 200-day moving average price is $36.20. The company’s market cap is $12.48 billion. National Oilwell Varco has a 52 week low of $31.00 and a 52 week high of $43.63.
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Wednesday, June 14th. National Oilwell Varco’s dividend payout ratio is currently -3.31%.
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Several hedge funds have recently modified their holdings of the company. FNY Partners Fund LP acquired a new stake in shares of National Oilwell Varco during the first quarter valued at $120,000. Quadrant Capital Group LLC increased its stake in shares of National Oilwell Varco by 6.8% in the first quarter. Quadrant Capital Group LLC now owns 3,214 shares of the oil and gas exploration company’s stock valued at $122,000 after buying an additional 205 shares during the period. Exane Derivatives increased its stake in shares of National Oilwell Varco by 113.8% in the second quarter. Exane Derivatives now owns 3,985 shares of the oil and gas exploration company’s stock valued at $131,000 after buying an additional 2,121 shares during the period. WMS Partners LLC acquired a new stake in shares of National Oilwell Varco during the first quarter valued at $200,000. Finally, Murphy Pohlad Asset Management LLC acquired a new stake in shares of National Oilwell Varco during the first quarter valued at $203,000. 91.41% of the stock is owned by institutional investors.
About National Oilwell Varco
National Oilwell Varco, Inc is an oilfield equipment manufacturer and technology provider. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies and Completion & Production Solutions. The Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore.
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