Gabelli Comments on National-Oilwell Varco, Inc.’s FY2018 Earnings (NOV)

National-Oilwell Varco, Inc. (NYSE:NOV) – Research analysts at Gabelli decreased their FY2018 earnings per share estimates for shares of National-Oilwell Varco in a research note issued on Monday, October 29th. Gabelli analyst S. Wong now forecasts that the oil and gas exploration company will earn $0.10 per share for the year, down from their previous estimate of $0.15. Gabelli also issued estimates for National-Oilwell Varco’s FY2020 earnings at $1.55 EPS and FY2021 earnings at $2.55 EPS.

NOV has been the topic of a number of other research reports. Morgan Stanley assumed coverage on National-Oilwell Varco in a research note on Tuesday, September 18th. They set an “equal weight” rating and a $50.00 target price on the stock. Stifel Nicolaus assumed coverage on National-Oilwell Varco in a research note on Monday, September 10th. They set a “buy” rating and a $54.00 target price on the stock. Credit Suisse Group set a $43.00 target price on National-Oilwell Varco and gave the company a “hold” rating in a research note on Monday, July 30th. Barclays cut their target price on National-Oilwell Varco from $44.00 to $40.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $53.00 target price on shares of National-Oilwell Varco in a research note on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $43.32.

NOV opened at $36.80 on Wednesday. The company has a market cap of $13.76 billion, a PE ratio of -87.62, a price-to-earnings-growth ratio of 44.16 and a beta of 0.93. National-Oilwell Varco has a one year low of $31.47 and a one year high of $49.08. The company has a current ratio of 3.17, a quick ratio of 1.78 and a debt-to-equity ratio of 0.19.

A number of institutional investors have recently bought and sold shares of the business. State Treasurer State of Michigan lifted its holdings in National-Oilwell Varco by 1.1% during the second quarter. State Treasurer State of Michigan now owns 113,078 shares of the oil and gas exploration company’s stock worth $4,908,000 after buying an additional 1,200 shares during the period. Independent Order of Foresters lifted its holdings in National-Oilwell Varco by 19.7% during the second quarter. Independent Order of Foresters now owns 7,281 shares of the oil and gas exploration company’s stock worth $316,000 after buying an additional 1,200 shares during the period. Whittier Trust Co. lifted its holdings in National-Oilwell Varco by 180.6% during the second quarter. Whittier Trust Co. now owns 2,455 shares of the oil and gas exploration company’s stock worth $202,000 after buying an additional 1,580 shares during the period. MUFG Americas Holdings Corp lifted its holdings in National-Oilwell Varco by 29.8% during the second quarter. MUFG Americas Holdings Corp now owns 7,183 shares of the oil and gas exploration company’s stock worth $312,000 after buying an additional 1,650 shares during the period. Finally, Dupont Capital Management Corp lifted its holdings in National-Oilwell Varco by 55.9% during the second quarter. Dupont Capital Management Corp now owns 4,960 shares of the oil and gas exploration company’s stock worth $215,000 after buying an additional 1,779 shares during the period. Institutional investors own 95.45% of the company’s stock.

In other National-Oilwell Varco news, Director Eric L. Mattson sold 11,112 shares of the company’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $45.34, for a total transaction of $503,818.08. Following the completion of the sale, the director now owns 66,862 shares in the company, valued at $3,031,523.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Eric L. Mattson sold 5,284 shares of the company’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $45.06, for a total value of $238,097.04. Following the sale, the director now owns 66,862 shares of the company’s stock, valued at approximately $3,012,801.72. The disclosure for this sale can be found here. Insiders sold 20,734 shares of company stock valued at $939,945 in the last quarter. 0.79% of the stock is owned by company insiders.

About National-Oilwell Varco

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.

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

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