Q1 2018 EPS Estimates for National Oilwell Varco Lowered by SunTrust Banks (NOV)

National Oilwell Varco (NYSE:NOV) – Equities researchers at SunTrust Banks decreased their Q1 2018 earnings per share (EPS) estimates for shares of National Oilwell Varco in a research note issued to investors on Monday, April 16th. SunTrust Banks analyst K. Sill now anticipates that the oil and gas exploration company will earn ($0.04) per share for the quarter, down from their prior forecast of ($0.01). SunTrust Banks currently has a “Hold” rating and a $31.00 target price on the stock. SunTrust Banks also issued estimates for National Oilwell Varco’s Q4 2019 earnings at $0.39 EPS.

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National Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.04). The company had revenue of $1.97 billion for the quarter. National Oilwell Varco had a negative net margin of 3.24% and a negative return on equity of 1.10%. During the same period in the previous year, the company earned ($0.15) EPS.



A number of other equities research analysts also recently issued reports on the stock. Royal Bank of Canada set a $37.00 price target on shares of National Oilwell Varco and gave the company a “hold” rating in a research note on Thursday, December 21st. Piper Jaffray reaffirmed a “buy” rating and set a $34.00 price target on shares of National Oilwell Varco in a research note on Thursday, December 21st. ValuEngine raised shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. B. Riley set a $42.00 price target on shares of National Oilwell Varco and gave the company a “buy” rating in a research note on Friday, January 19th. Finally, TheStreet raised shares of National Oilwell Varco from a “d+” rating to a “c” rating in a research note on Tuesday, February 6th. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $36.59.

National Oilwell Varco stock opened at $38.58 on Thursday. The firm has a market cap of $14,289.60, a P/E ratio of -91.86, a price-to-earnings-growth ratio of 26.03 and a beta of 0.80. The company has a current ratio of 3.07, a quick ratio of 1.79 and a debt-to-equity ratio of 0.19. National Oilwell Varco has a 52-week low of $29.90 and a 52-week high of $41.38.

Several large investors have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB boosted its holdings in shares of National Oilwell Varco by 20.2% in the 4th quarter. Xact Kapitalforvaltning AB now owns 39,105 shares of the oil and gas exploration company’s stock valued at $1,409,000 after buying an additional 6,583 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of National Oilwell Varco by 318.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 101,168 shares of the oil and gas exploration company’s stock valued at $3,644,000 after buying an additional 76,989 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of National Oilwell Varco by 5.8% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 217,343 shares of the oil and gas exploration company’s stock valued at $7,829,000 after buying an additional 11,942 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in shares of National Oilwell Varco by 32.0% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 29,694 shares of the oil and gas exploration company’s stock valued at $1,070,000 after buying an additional 7,200 shares in the last quarter. Finally, 683 Capital Management LLC boosted its holdings in shares of National Oilwell Varco by 22.9% in the 4th quarter. 683 Capital Management LLC now owns 295,000 shares of the oil and gas exploration company’s stock valued at $10,626,000 after buying an additional 55,000 shares in the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

In other National Oilwell Varco news, VP Scott K. Duff sold 7,421 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $35.66, for a total transaction of $264,632.86. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.79% of the stock is owned by corporate insiders.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 16th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Thursday, March 15th. National Oilwell Varco’s payout ratio is -47.62%.

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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.

Earnings History and Estimates for National Oilwell Varco (NYSE:NOV)

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