FY2020 EPS Estimates for National Oilwell Varco, Inc. Lowered by Jefferies Group (NOV)

National Oilwell Varco, Inc. (NYSE:NOV) – Investment analysts at Jefferies Group decreased their FY2020 EPS estimates for shares of National Oilwell Varco in a report issued on Wednesday. Jefferies Group analyst B. Handler now anticipates that the firm will earn $2.45 per share for the year, down from their previous forecast of $2.50. Jefferies Group currently has a “Hold” rating and a $36.00 target price on the stock.

Other research analysts have also recently issued research reports about the company. Vetr raised National Oilwell Varco from a “hold” rating to a “buy” rating and set a $42.13 target price on the stock in a research note on Monday, February 6th. Societe Generale raised National Oilwell Varco from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Thursday, January 19th. Zacks Investment Research raised National Oilwell Varco from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Friday. SunTrust Banks, Inc. began coverage on National Oilwell Varco in a research note on Wednesday, January 18th. They set a “hold” rating and a $40.00 price objective on the stock. Finally, RBC Capital Markets reaffirmed a “hold” rating and set a $47.00 price objective on shares of National Oilwell Varco in a research note on Friday, January 6th. Three investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have given a buy rating to the company. National Oilwell Varco has an average rating of “Hold” and a consensus target price of $36.69.

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

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Shares of National Oilwell Varco (NYSE:NOV) traded up 1.10% on Thursday, hitting $39.42. The stock had a trading volume of 3,120,540 shares. National Oilwell Varco has a 1-year low of $26.86 and a 1-year high of $43.63. The firm has a 50 day moving average of $38.38 and a 200-day moving average of $35.94. The firm’s market capitalization is $14.82 billion.

National Oilwell Varco (NYSE:NOV) last announced its quarterly earnings data on Monday, February 6th. The oil and gas exploration company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.14. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.62 billion. National Oilwell Varco had a negative return on equity of 2.08% and a negative net margin of 33.26%. The firm’s revenue was down 37.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.23 EPS.

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Institutional investors have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan increased its position in National Oilwell Varco by 0.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 11,950 shares of the oil and gas exploration company’s stock worth $439,000 after buying an additional 50 shares in the last quarter. Wesbanco Bank Inc. boosted its stake in National Oilwell Varco by 0.7% in the fourth quarter. Wesbanco Bank Inc. now owns 6,725 shares of the oil and gas exploration company’s stock worth $251,000 after buying an additional 50 shares during the last quarter. First Foundation Advisors boosted its stake in National Oilwell Varco by 0.8% in the second quarter. First Foundation Advisors now owns 10,739 shares of the oil and gas exploration company’s stock worth $361,000 after buying an additional 81 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in National Oilwell Varco by 2.8% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 6,503 shares of the oil and gas exploration company’s stock worth $238,000 after buying an additional 178 shares during the last quarter. Finally, Point View Wealth Management Inc. boosted its stake in National Oilwell Varco by 1.8% in the third quarter. Point View Wealth Management Inc. now owns 10,782 shares of the oil and gas exploration company’s stock worth $396,000 after buying an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

About National Oilwell Varco

National Oilwell Varco, Inc (NOV) is engaged in providing design, manufacture and sale of equipment and components used in oil and gas drilling, completion and production operations. The Company operates through four segments: Rig Systems, which makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore; Rig Aftermarket, which provides aftermarket products and services to support land and offshore rigs, and drilling rig components manufactured by the Company’s Rig Systems segment; Wellbore Technologies, which sells and rents solids control equipment, and provides solids control, waste management and drilling fluids services, and Completion & Production Solutions, which provides technologies for well completions and oil and gas production.

5 Day Chart for NYSE:NOV

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