National-Oilwell Varco, Inc. (NYSE:NOV) – Analysts at Jefferies Financial Group reduced their FY2021 earnings estimates for National-Oilwell Varco in a research note issued to investors on Monday, April 29th, according to Zacks Investment Research. Jefferies Financial Group analyst B. Handler now forecasts that the oil and gas exploration company will post earnings of $1.45 per share for the year, down from their previous estimate of $1.55.
Several other analysts have also issued reports on the company. Citigroup set a $31.00 target price on National-Oilwell Varco and gave the company a “hold” rating in a research note on Wednesday, May 8th. Zacks Investment Research lowered National-Oilwell Varco from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 1st. SunTrust Banks lowered their target price on National-Oilwell Varco to $24.00 and set a “hold” rating on the stock in a research note on Tuesday, April 16th. Raymond James lowered their target price on National-Oilwell Varco from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, April 15th. Finally, Barclays lowered their target price on National-Oilwell Varco from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Monday, April 15th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have given a buy rating to the stock. National-Oilwell Varco presently has an average rating of “Hold” and a consensus target price of $38.08.
National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas exploration company reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.12). The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.99 billion. National-Oilwell Varco had a negative return on equity of 0.29% and a negative net margin of 0.47%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.18) earnings per share.
Large investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. boosted its holdings in shares of National-Oilwell Varco by 32.7% in the third quarter. Macquarie Group Ltd. now owns 7,300 shares of the oil and gas exploration company’s stock worth $315,000 after buying an additional 1,800 shares during the period. Kentucky Retirement Systems bought a new stake in shares of National-Oilwell Varco during the 3rd quarter worth approximately $2,811,000. Standard Life Aberdeen plc raised its stake in shares of National-Oilwell Varco by 5.2% during the 3rd quarter. Standard Life Aberdeen plc now owns 183,402 shares of the oil and gas exploration company’s stock worth $7,901,000 after purchasing an additional 9,124 shares in the last quarter. Kepos Capital LP bought a new stake in shares of National-Oilwell Varco during the 3rd quarter worth approximately $4,815,000. Finally, Legal & General Group Plc raised its stake in shares of National-Oilwell Varco by 2.0% during the 3rd quarter. Legal & General Group Plc now owns 2,012,309 shares of the oil and gas exploration company’s stock worth $86,712,000 after purchasing an additional 39,430 shares in the last quarter. Institutional investors own 93.54% of the company’s stock.
In related news, VP Scott K. Duff sold 15,125 shares of the business’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $28.02, for a total transaction of $423,802.50. Following the sale, the vice president now directly owns 54,098 shares in the company, valued at approximately $1,515,825.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.92% of the company’s stock.
National-Oilwell Varco Company Profile
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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