National-Oilwell Varco, Inc. (NYSE:NOV) – Equities researchers at Jefferies Group increased their FY2017 EPS estimates for National-Oilwell Varco in a research report issued on Monday. Jefferies Group analyst B. Handler now forecasts that the oil and gas exploration company will earn ($0.42) per share for the year, up from their previous forecast of ($0.43). Jefferies Group has a “Hold” rating and a $35.00 price target on the stock. Jefferies Group also issued estimates for National-Oilwell Varco’s Q4 2017 earnings at ($0.04) EPS and Q1 2018 earnings at ($0.05) EPS.
NOV has been the subject of several other reports. R. F. Lafferty cut their price target on shares of National-Oilwell Varco from $33.00 to $31.00 and set a “hold” rating for the company in a report on Monday, November 6th. FBR & Co reissued a “buy” rating on shares of National-Oilwell Varco in a report on Monday, October 16th. Scotiabank set a $37.00 price target on shares of National-Oilwell Varco and gave the company a “hold” rating in a report on Friday, October 27th. ValuEngine downgraded shares of National-Oilwell Varco from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Finally, Citigroup cut their price target on shares of National-Oilwell Varco from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Tuesday, October 31st. Five equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $38.22.
National-Oilwell Varco (NYSE:NOV) last announced 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 consensus estimate of ($0.04). National-Oilwell Varco had a negative net margin of 3.24% and a negative return on equity of 1.10%. The firm had revenue of $1.97 billion during the quarter. During the same period in the prior year, the business earned ($0.15) earnings per share.
Hedge funds and other institutional investors have recently made changes to their positions in the business. IHT Wealth Management LLC raised its stake in shares of National-Oilwell Varco by 1,923.1% in the second quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock worth $112,000 after acquiring an additional 500 shares during the last quarter. Dupont Capital Management Corp acquired a new stake in shares of National-Oilwell Varco during the 4th quarter worth approximately $141,000. Global Trust Asset Management LLC acquired a new stake in shares of National-Oilwell Varco during the 4th quarter worth approximately $160,000. Tiedemann Wealth Management LLC grew its position in shares of National-Oilwell Varco by 77.8% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 11,668 shares of the oil and gas exploration company’s stock worth $194,000 after buying an additional 5,107 shares during the period. Finally, IBM Retirement Fund acquired a new stake in shares of National-Oilwell Varco during the 3rd quarter worth approximately $200,000. 91.83% 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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