National-Oilwell Varco (NYSE:NOV) Shares Gap Down to $19.32

Share on StockTwits

National-Oilwell Varco, Inc. (NYSE:NOV) gapped down before the market opened on Friday . The stock had previously closed at $19.74, but opened at $19.32. National-Oilwell Varco shares last traded at $18.71, with a volume of 4,920,074 shares trading hands.

NOV has been the topic of several research analyst reports. Seaport Global Securities raised National-Oilwell Varco from a “sell” rating to a “neutral” rating in a report on Wednesday, July 31st. Susquehanna Bancshares raised National-Oilwell Varco from a “neutral” rating to a “positive” rating and set a $25.00 price target on the stock in a report on Monday, August 12th. Piper Jaffray Companies set a $25.00 price target on National-Oilwell Varco and gave the company a “buy” rating in a report on Monday, July 1st. Raymond James increased their price target on National-Oilwell Varco from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Cowen reissued a “market perform” rating and set a $27.00 price target (up from $25.00) on shares of National-Oilwell Varco in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $33.79.

The company has a current ratio of 3.05, a quick ratio of 1.76 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $7.29 billion, a PE ratio of -233.88 and a beta of 1.30. The firm has a 50 day moving average price of $20.97 and a 200 day moving average price of $24.36.

National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings results on Monday, July 29th. The oil and gas exploration company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.03. National-Oilwell Varco had a negative return on equity of 0.64% and a negative net margin of 63.23%. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.08 billion. On average, equities research analysts expect that National-Oilwell Varco, Inc. will post -0.02 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.20 dividend on an annualized basis and a yield of 1.07%. National-Oilwell Varco’s payout ratio is presently -250.00%.

In other National-Oilwell Varco news, insider Joseph W. Rovig sold 22,640 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $18.37, for a total value of $415,896.80. Following the completion of the sale, the insider now owns 73,867 shares in the company, valued at approximately $1,356,936.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eric L. Mattson sold 4,750 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $21.02, for a total value of $99,845.00. Following the completion of the sale, the director now owns 64,503 shares of the company’s stock, valued at approximately $1,355,853.06. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of National-Oilwell Varco by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 42,639,578 shares of the oil and gas exploration company’s stock valued at $947,879,000 after purchasing an additional 446,467 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of National-Oilwell Varco by 1.9% in the 2nd quarter. BlackRock Inc. now owns 26,346,681 shares of the oil and gas exploration company’s stock valued at $585,686,000 after acquiring an additional 488,523 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in shares of National-Oilwell Varco by 45.9% in the 2nd quarter. Pzena Investment Management LLC now owns 24,225,557 shares of the oil and gas exploration company’s stock valued at $538,534,000 after acquiring an additional 7,616,881 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of National-Oilwell Varco by 9.3% in the 1st quarter. Clearbridge Investments LLC now owns 11,227,988 shares of the oil and gas exploration company’s stock valued at $299,114,000 after acquiring an additional 958,131 shares during the last quarter. Finally, Parnassus Investments CA lifted its holdings in shares of National-Oilwell Varco by 0.7% in the 1st quarter. Parnassus Investments CA now owns 11,107,784 shares of the oil and gas exploration company’s stock valued at $295,911,000 after acquiring an additional 73,441 shares during the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.

About National-Oilwell Varco (NYSE:NOV)

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.

Featured Article: How does a reverse stock split work?

Receive News & Ratings for National-Oilwell Varco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National-Oilwell Varco and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Pioneer Energy Services  Lowered to Sell at Zacks Investment Research
Pioneer Energy Services Lowered to Sell at Zacks Investment Research
Nice  Downgraded by BidaskClub
Nice Downgraded by BidaskClub
Redfin  Lifted to Buy at BidaskClub
Redfin Lifted to Buy at BidaskClub
SS&C Technologies  Upgraded by BidaskClub to Strong-Buy
SS&C Technologies Upgraded by BidaskClub to Strong-Buy
Svb Leerink Upgrades ACADIA Pharmaceuticals  to “Outperform”
Svb Leerink Upgrades ACADIA Pharmaceuticals to “Outperform”
Broadcom  Downgraded to “Hold” at Loop Capital
Broadcom Downgraded to “Hold” at Loop Capital


 
© 2006-2019 Zolmax.