National Oilwell Varco (NYSE:NOV) Announces Quarterly Earnings Results

National Oilwell Varco (NYSE:NOV) issued its quarterly earnings data on Monday. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.04), RTT News reports. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.38 billion. National Oilwell Varco had a negative return on equity of 2.32% and a negative net margin of 35.56%. National Oilwell Varco’s revenue was down 34.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.04 earnings per share.

Shares of NOV opened at $8.01 on Thursday. The firm has a market cap of $3.11 billion, a PE ratio of -1.11 and a beta of 1.89. The stock’s fifty day moving average price is $9.76 and its two-hundred day moving average price is $11.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.86 and a quick ratio of 1.87. National Oilwell Varco has a 1 year low of $7.99 and a 1 year high of $25.81.

A number of equities research analysts have weighed in on the company. Griffin Securities reiterated a “hold” rating on shares of National Oilwell Varco in a report on Wednesday, August 12th. Credit Suisse Group raised their price objective on National Oilwell Varco from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Wednesday. ValuEngine cut National Oilwell Varco from a “buy” rating to a “hold” rating in a research report on Friday, August 7th. Wells Fargo & Company cut their target price on National Oilwell Varco from $13.50 to $12.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Piper Sandler cut their target price on National Oilwell Varco from $11.40 to $11.30 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $15.78.

About National Oilwell Varco

National Oilwell Varco, Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. The company offers various equipment and technologies used to perform drilling operations.

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Earnings History for National Oilwell Varco (NYSE:NOV)

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