Barclays Trims National-Oilwell Varco (NOV) Target Price to $28.00

National-Oilwell Varco (NYSE:NOV) had its price target lowered by Barclays from $32.00 to $28.00 in a report released on Monday, BenzingaRatingsTable reports. Barclays currently has an equal weight rating on the oil and gas exploration company’s stock.

Several other research analysts have also recently issued reports on NOV. Cowen set a $23.00 target price on National-Oilwell Varco and gave the stock a hold rating in a research report on Friday, April 12th. Zacks Investment Research raised National-Oilwell Varco from a strong sell rating to a hold rating in a research report on Tuesday, February 12th. Gabelli reissued a buy rating on shares of National-Oilwell Varco in a research report on Monday, February 11th. Raymond James set a $40.00 target price on National-Oilwell Varco and gave the stock a buy rating in a research report on Friday, February 8th. Finally, Royal Bank of Canada set a $31.00 target price on National-Oilwell Varco and gave the stock a hold rating in a research report on Friday, February 8th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $38.00.

National-Oilwell Varco stock opened at $27.25 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.83 and a current ratio of 3.11. National-Oilwell Varco has a one year low of $24.27 and a one year high of $49.08. The firm has a market cap of $10.56 billion, a P/E ratio of -340.63, a price-to-earnings-growth ratio of 27.20 and a beta of 1.22.

National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Wednesday, February 6th. The oil and gas exploration company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.05). National-Oilwell Varco had a negative net margin of 0.37% and a negative return on equity of 0.22%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same period last year, the business earned ($0.04) earnings per share. The company’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, equities analysts anticipate that National-Oilwell Varco will post 0.17 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Thursday, March 14th. National-Oilwell Varco’s dividend payout ratio (DPR) is currently -250.00%.

In other news, VP Scott K. Duff sold 15,125 shares of the firm’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $28.02, for a total value of $423,802.50. Following the transaction, the vice president now owns 54,098 shares of the company’s stock, valued at $1,515,825.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.79% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in National-Oilwell Varco by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 40,535,826 shares of the oil and gas exploration company’s stock valued at $1,746,283,000 after purchasing an additional 506,418 shares during the period. Vanguard Group Inc raised its stake in National-Oilwell Varco by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 40,535,826 shares of the oil and gas exploration company’s stock valued at $1,746,283,000 after purchasing an additional 506,418 shares during the period. BlackRock Inc. raised its stake in National-Oilwell Varco by 4.3% during the 4th quarter. BlackRock Inc. now owns 26,005,356 shares of the oil and gas exploration company’s stock valued at $668,337,000 after purchasing an additional 1,072,861 shares during the period. Harris Associates L P raised its stake in National-Oilwell Varco by 1.8% during the 4th quarter. Harris Associates L P now owns 22,820,259 shares of the oil and gas exploration company’s stock valued at $586,481,000 after purchasing an additional 412,852 shares during the period. Finally, Pzena Investment Management LLC raised its stake in National-Oilwell Varco by 37.9% during the 4th quarter. Pzena Investment Management LLC now owns 12,651,572 shares of the oil and gas exploration company’s stock valued at $325,145,000 after purchasing an additional 3,475,751 shares during the period. 93.47% of the stock is currently owned by hedge funds and other institutional investors.

About National-Oilwell Varco

National Oilwell Varco, Inc designs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. It operates in three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. The Wellbore Technologies segment offers various equipment and technologies used to perform drilling operations.

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Analyst Recommendations for National-Oilwell Varco (NYSE:NOV)

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