Brokerages predict that National-Oilwell Varco, Inc. (NYSE:NOV) will announce sales of $2.21 billion for the current quarter, according to Zacks. Ten analysts have made estimates for National-Oilwell Varco’s earnings. The lowest sales estimate is $2.18 billion and the highest is $2.26 billion. National-Oilwell Varco posted sales of $1.84 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 20.1%. The company is expected to issue its next quarterly earnings report after the market closes on Thursday, October 25th.
On average, analysts expect that National-Oilwell Varco will report full year sales of $8.37 billion for the current financial year, with estimates ranging from $8.20 billion to $8.46 billion. For the next financial year, analysts expect that the company will post sales of $9.61 billion, with estimates ranging from $8.79 billion to $10.37 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover National-Oilwell Varco.
National-Oilwell Varco (NYSE:NOV) last posted its earnings results on Thursday, July 26th. The oil and gas exploration company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. National-Oilwell Varco had a negative net margin of 1.09% and a negative return on equity of 0.60%. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the previous year, the firm posted ($0.14) EPS. The firm’s revenue was up 19.7% on a year-over-year basis.
A number of equities research analysts have commented on the stock. Barclays lifted their target price on shares of National-Oilwell Varco from $37.00 to $44.00 and gave the stock a “hold” rating in a research report on Monday, July 30th. Cowen reaffirmed a “hold” rating and issued a $45.00 target price on shares of National-Oilwell Varco in a research report on Friday. Stifel Nicolaus assumed coverage on shares of National-Oilwell Varco in a research report on Monday, September 10th. They issued a “buy” rating and a $54.00 target price for the company. Credit Suisse Group set a $43.00 target price on shares of National-Oilwell Varco and gave the stock a “hold” rating in a research report on Monday, July 30th. Finally, Raymond James lifted their target price on shares of National-Oilwell Varco from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, July 30th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $44.32.
NYSE:NOV traded up $0.01 during trading hours on Wednesday, reaching $41.91. The company had a trading volume of 3,157,276 shares, compared to its average volume of 3,132,769. The company has a current ratio of 3.19, a quick ratio of 1.75 and a debt-to-equity ratio of 0.19. National-Oilwell Varco has a 52 week low of $31.47 and a 52 week high of $49.08. The company has a market cap of $16.48 billion, a PE ratio of -99.79, a price-to-earnings-growth ratio of 46.67 and a beta of 0.93.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Thursday, September 13th. National-Oilwell Varco’s payout ratio is -47.62%.
In related news, Director Eric L. Mattson sold 4,338 shares of National-Oilwell Varco stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $45.65, for a total transaction of $198,029.70. Following the transaction, the director now owns 76,484 shares in the company, valued at approximately $3,491,494.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Craig L. Weinstock sold 3,709 shares of National-Oilwell Varco stock in a transaction on Monday, July 30th. The shares were sold at an average price of $48.02, for a total transaction of $178,106.18. Following the transaction, the vice president now owns 42,663 shares in the company, valued at approximately $2,048,677.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 514,559 shares of company stock valued at $24,588,009. Insiders own 0.79% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parnassus Investments CA lifted its stake in National-Oilwell Varco by 48.5% in the 2nd quarter. Parnassus Investments CA now owns 10,325,152 shares of the oil and gas exploration company’s stock worth $448,112,000 after purchasing an additional 3,374,289 shares in the last quarter. Pzena Investment Management LLC purchased a new stake in National-Oilwell Varco in the 2nd quarter worth $191,593,000. Ruffer LLP purchased a new stake in National-Oilwell Varco in the 2nd quarter worth $170,243,000. Dimensional Fund Advisors LP lifted its stake in National-Oilwell Varco by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,484,553 shares of the oil and gas exploration company’s stock worth $151,227,000 after purchasing an additional 28,498 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in National-Oilwell Varco by 0.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,822,519 shares of the oil and gas exploration company’s stock worth $79,098,000 after purchasing an additional 16,649 shares in the last quarter. Institutional investors own 95.63% of the company’s stock.
National-Oilwell Varco Company Profile
National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.
Further Reading: Cash Flow Analysis in Stock Selection
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.