William Blair Brokers Raise Earnings Estimates for National Oilwell Varco, Inc. (NOV)

National Oilwell Varco, Inc. (NYSE:NOV) – Research analysts at William Blair increased their Q1 2017 EPS estimates for shares of National Oilwell Varco in a report issued on Tuesday. William Blair analyst B. Dobell now expects that the firm will post earnings per share of ($0.11) for the quarter, up from their prior estimate of ($0.28). William Blair also issued estimates for National Oilwell Varco’s Q2 2017 earnings at ($0.13) EPS, Q3 2017 earnings at ($0.05) EPS, Q4 2017 earnings at $0.01 EPS, FY2017 earnings at ($0.28) EPS, Q1 2018 earnings at $0.17 EPS and Q2 2018 earnings at $0.17 EPS.

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

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

Several other research firms have also recently issued reports on NOV. Jefferies Group LLC reissued a “hold” rating and set a $36.00 target price on shares of National Oilwell Varco in a research note on Wednesday. Credit Suisse Group raised National Oilwell Varco from an “underperform” rating to a “neutral” rating and set a $40.00 target price on the stock in a research note on Wednesday. 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. Scotiabank reissued a “hold” rating and set a $37.00 target price on shares of National Oilwell Varco in a research note on Wednesday. Finally, Loop Capital started coverage on National Oilwell Varco in a research note on Tuesday. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have assigned a buy rating to the company. National Oilwell Varco has a consensus rating of “Hold” and an average price target of $36.69.

National Oilwell Varco (NYSE:NOV) opened at 39.42 on Friday. National Oilwell Varco has a 52 week low of $26.86 and a 52 week high of $43.63. The company’s market capitalization is $14.82 billion. The firm’s 50-day moving average price is $38.38 and its 200 day moving average price is $35.94.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hanlon Investment Management Inc. purchased a new position in National Oilwell Varco during the second quarter worth $5,040,000. Becker Capital Management Inc. increased its position in National Oilwell Varco by 81.3% in the second quarter. Becker Capital Management Inc. now owns 598,162 shares of the oil and gas exploration company’s stock worth $20,128,000 after buying an additional 268,267 shares in the last quarter. Pinnacle Financial Partners Inc. increased its position in National Oilwell Varco by 9.3% in the second quarter. Pinnacle Financial Partners Inc. now owns 33,031 shares of the oil and gas exploration company’s stock worth $1,113,000 after buying an additional 2,822 shares in the last quarter. Nuance Investments LLC purchased a new position in National Oilwell Varco during the second quarter worth $1,531,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in National Oilwell Varco by 50.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 485,237 shares of the oil and gas exploration company’s stock worth $16,328,000 after buying an additional 162,148 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors.

National Oilwell Varco Company Profile

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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