Q1 2018 EPS Estimates for National-Oilwell Varco, Inc. (NOV) Increased by Analyst
National-Oilwell Varco, Inc. (NYSE:NOV) – Investment analysts at Capital One Financial lifted their Q1 2018 earnings per share estimates for National-Oilwell Varco in a research note issued to investors on Wednesday. Capital One Financial analyst J. Gibney now anticipates that the oil and gas exploration company will earn ($0.01) per share for the quarter, up from their previous forecast of ($0.02). Capital One Financial has a “Equal Weight” rating on the stock. Capital One Financial also issued estimates for National-Oilwell Varco’s Q2 2018 earnings at $0.02 EPS.
NOV has been the subject of several other research reports. Wolfe Research cut National-Oilwell Varco from a “market perform” rating to an “underperform” rating in a report on Tuesday, October 31st. Royal Bank of Canada set a $37.00 price target on National-Oilwell Varco and gave the company a “hold” rating in a report on Thursday, December 21st. JPMorgan Chase & Co. cut their price target on National-Oilwell Varco from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, October 30th. Susquehanna Bancshares set a $35.00 price target on National-Oilwell Varco and gave the company a “hold” rating in a report on Friday, January 12th. Finally, Zacks Investment Research cut National-Oilwell Varco from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Five research analysts have rated the stock with a sell rating, seventeen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. National-Oilwell Varco presently has an average rating of “Hold” and an average target price of $38.50.
National-Oilwell Varco (NYSE:NOV) last released its earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). The business had revenue of $1.97 billion for the quarter. National-Oilwell Varco had a negative return on equity of 1.10% and a negative net margin of 3.24%. During the same quarter last year, the business earned ($0.15) EPS.
A number of hedge funds have recently bought and sold shares of NOV. Dupont Capital Management Corp acquired a new stake in National-Oilwell Varco during the fourth quarter worth $141,000. Global Trust Asset Management LLC acquired a new stake in National-Oilwell Varco during the fourth quarter worth $160,000. Tiedemann Wealth Management LLC increased its stake in National-Oilwell Varco by 77.8% during the third quarter. Tiedemann Wealth Management LLC now owns 11,668 shares of the oil and gas exploration company’s stock worth $194,000 after acquiring an additional 5,107 shares during the last quarter. IBM Retirement Fund acquired a new stake in National-Oilwell Varco during the third quarter worth $200,000. Finally, Cadence Bank NA acquired a new stake in National-Oilwell Varco during the fourth quarter worth $201,000. 91.83% of the stock is owned by institutional investors.
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National-Oilwell Varco Company Profile
National Oilwell Varco, Inc is an oilfield equipment manufacturer and technology provider. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies and Completion & Production Solutions. The Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore.
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