National-Oilwell Varco, Inc. (NYSE:NOV)’s share price gapped down prior to trading on Monday after Raymond James lowered their price target on the stock from $40.00 to $35.00. The stock had previously closed at $25.45, but opened at $26.87. Raymond James currently has an outperform rating on the stock. National-Oilwell Varco shares last traded at $28.09, with a volume of 246352 shares.

NOV has been the subject of a number of other reports. Cowen set a $23.00 price target on National-Oilwell Varco and gave the stock a “hold” rating in a report on Friday. UBS Group set a $28.00 price target on National-Oilwell Varco and gave the stock a “hold” rating in a report on Thursday, December 20th. Goldman Sachs Group started coverage on National-Oilwell Varco in a report on Sunday, March 10th. They issued a “neutral” rating and a $33.00 price target for the company. Royal Bank of Canada set a $31.00 price target on National-Oilwell Varco and gave the stock a “hold” rating in a report on Friday, February 8th. Finally, Stephens started coverage on National-Oilwell Varco in a report on Wednesday, January 9th. They issued an “overweight” rating and a $35.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eleven have assigned a buy rating to the stock. National-Oilwell Varco has an average rating of “Hold” and a consensus price target of $38.21.

In related news, VP Scott K. Duff sold 15,125 shares of the company’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $28.02, for a total value of $423,802.50. Following the completion of the transaction, the vice president now directly owns 54,098 shares in the company, valued at $1,515,825.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.79% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in NOV. Sciencast Management LP acquired a new stake in National-Oilwell Varco during the first quarter worth about $440,000. Retirement Systems of Alabama increased its stake in National-Oilwell Varco by 1.2% during the first quarter. Retirement Systems of Alabama now owns 178,542 shares of the oil and gas exploration company’s stock worth $4,756,000 after acquiring an additional 2,094 shares during the last quarter. Viking Fund Management LLC acquired a new stake in National-Oilwell Varco during the first quarter worth about $2,930,000. Virtu Financial LLC increased its stake in National-Oilwell Varco by 151.9% during the first quarter. Virtu Financial LLC now owns 30,768 shares of the oil and gas exploration company’s stock worth $820,000 after acquiring an additional 18,555 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new stake in National-Oilwell Varco during the first quarter worth about $26,000. Hedge funds and other institutional investors own 93.47% of the company’s stock.

The company has a market capitalization of $11.25 billion, a P/E ratio of -344.13, a PEG ratio of 25.81 and a beta of 1.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.11 and a quick ratio of 1.83.

National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Wednesday, February 6th. The oil and gas exploration company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.05). The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.18 billion. National-Oilwell Varco had a negative return on equity of 0.22% and a negative net margin of 0.37%. The business’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.04) earnings per share. On average, research analysts forecast that National-Oilwell Varco, Inc. will post 0.19 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Thursday, March 14th. National-Oilwell Varco’s payout ratio is -250.00%.

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National-Oilwell Varco Company Profile (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.

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