Shares of National-Oilwell Varco, Inc. (NYSE:NOV) have been assigned an average recommendation of “Hold” from the twenty-nine ratings firms that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a sell recommendation, seventeen have given a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $36.58.
Several equities research analysts have recently commented on NOV shares. Royal Bank of Canada set a $37.00 target price on National-Oilwell Varco and gave the company a “hold” rating in a report on Thursday, December 21st. ValuEngine downgraded National-Oilwell Varco from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $34.00 target price on shares of National-Oilwell Varco in a report on Thursday, December 21st. B. Riley set a $42.00 price objective on National-Oilwell Varco and gave the stock a “buy” rating in a research note on Friday, January 19th. Finally, SunTrust Banks raised National-Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Wednesday, November 29th.
Shares of National-Oilwell Varco (NYSE:NOV) traded down $0.12 during midday trading on Wednesday, hitting $37.60. The stock had a trading volume of 2,538,360 shares, compared to its average volume of 3,349,120. National-Oilwell Varco has a twelve month low of $29.90 and a twelve month high of $40.90. The stock has a market capitalization of $14,260.00, a P/E ratio of -29.54, a price-to-earnings-growth ratio of 24.12 and a beta of 0.89. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.79 and a current ratio of 3.07.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 16th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.53%. The ex-dividend date is Thursday, March 15th. National-Oilwell Varco’s payout ratio is currently -15.75%.
In other National-Oilwell Varco news, VP Scott K. Duff sold 7,421 shares of the company’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $35.66, for a total value of $264,632.86. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.58% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Mn Services Vermogensbeheer B.V. increased its position in National-Oilwell Varco by 2.4% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 62,957 shares of the oil and gas exploration company’s stock worth $2,249,000 after purchasing an additional 1,500 shares during the last quarter. Bank of Hawaii increased its holdings in shares of National-Oilwell Varco by 4.5% during the 3rd quarter. Bank of Hawaii now owns 36,149 shares of the oil and gas exploration company’s stock valued at $1,292,000 after acquiring an additional 1,555 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of National-Oilwell Varco by 14.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 12,580 shares of the oil and gas exploration company’s stock valued at $449,000 after acquiring an additional 1,558 shares during the last quarter. Moors & Cabot Inc. increased its holdings in shares of National-Oilwell Varco by 6.7% during the 3rd quarter. Moors & Cabot Inc. now owns 27,646 shares of the oil and gas exploration company’s stock valued at $991,000 after acquiring an additional 1,726 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. increased its holdings in shares of National-Oilwell Varco by 3.8% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 49,022 shares of the oil and gas exploration company’s stock valued at $1,752,000 after acquiring an additional 1,788 shares during the last quarter. 93.57% of the stock is currently owned by institutional investors.
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National-Oilwell Varco Company Profile
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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