National-Oilwell Varco (NYSE:NOV) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.

Several other equities analysts also recently commented on the stock. Citigroup increased their price objective on shares of National-Oilwell Varco from $29.00 to $31.00 and gave the company a “neutral” rating in a research note on Tuesday, April 30th. Goldman Sachs Group initiated coverage on shares of National-Oilwell Varco in a research note on Sunday, March 10th. They issued a “neutral” rating and a $33.00 price objective for the company. Raymond James dropped their price objective on shares of National-Oilwell Varco from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday, April 15th. SunTrust Banks dropped their price objective on shares of National-Oilwell Varco to $29.00 and set a “hold” rating for the company in a research note on Monday, February 11th. Finally, Barclays set a $32.00 price objective on shares of National-Oilwell Varco and gave the company a “hold” rating in a research note on Saturday, February 9th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $38.08.

NYSE:NOV traded down $1.02 on Thursday, hitting $22.11. The company had a trading volume of 12,665,589 shares, compared to its average volume of 4,000,009. The company has a market cap of $9.30 billion, a price-to-earnings ratio of -276.38 and a beta of 1.20. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.30 and a quick ratio of 1.81. National-Oilwell Varco has a 52 week low of $21.67 and a 52 week high of $49.08.

National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas exploration company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.12). The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.99 billion. National-Oilwell Varco had a negative net margin of 0.47% and a negative return on equity of 0.29%. National-Oilwell Varco’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.18) EPS. As a group, analysts expect that National-Oilwell Varco will post -0.2 EPS for the current year.

In other news, VP Scott K. Duff sold 15,125 shares of the firm’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $28.02, for a total transaction of $423,802.50. Following the completion of the transaction, the vice president now owns 54,098 shares of the company’s stock, valued at $1,515,825.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.92% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in NOV. Truvestments Capital LLC bought a new position in National-Oilwell Varco during the first quarter worth $26,000. JOYN Advisors Inc. raised its stake in National-Oilwell Varco by 166.2% during the fourth quarter. JOYN Advisors Inc. now owns 1,046 shares of the oil and gas exploration company’s stock worth $27,000 after buying an additional 653 shares during the last quarter. Enlightenment Research LLC bought a new position in National-Oilwell Varco during the fourth quarter worth $28,000. Moody National Bank Trust Division raised its stake in National-Oilwell Varco by 125.0% during the first quarter. Moody National Bank Trust Division now owns 1,233 shares of the oil and gas exploration company’s stock worth $33,000 after buying an additional 685 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in National-Oilwell Varco by 2,438.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,065,034 shares of the oil and gas exploration company’s stock worth $41,000 after buying an additional 1,023,079 shares during the last quarter. 93.28% of the stock is owned by institutional investors and hedge funds.

About National-Oilwell Varco

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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Analyst Recommendations for National-Oilwell Varco (NYSE:NOV)

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