National-Oilwell Varco (NYSE:NOV) Stock Price Down 1.7%

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Shares of National-Oilwell Varco, Inc. (NYSE:NOV) fell 1.7% on Thursday . The company traded as low as $18.69 and last traded at $18.42, 2,524,679 shares changed hands during mid-day trading. A decline of 54% from the average session volume of 5,531,439 shares. The stock had previously closed at $18.74.

A number of research firms have recently weighed in on NOV. Societe Generale raised National-Oilwell Varco from a “neutral” rating to a “positive” rating and set a $25.00 price target on the stock in a research note on Monday. Zacks Investment Research downgraded National-Oilwell Varco from a “hold” rating to a “strong sell” rating in a research note on Monday, May 20th. TheStreet cut shares of National-Oilwell Varco from a “c-” rating to a “d+” rating in a research report on Friday, May 31st. Raymond James upped their price objective on shares of National-Oilwell Varco from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Seaport Global Securities upgraded shares of National-Oilwell Varco from a “sell” rating to a “neutral” rating in a research report on Wednesday, July 31st. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $34.24.

The stock has a fifty day simple moving average of $21.45 and a 200-day simple moving average of $24.69. The stock has a market cap of $7.16 billion, a P/E ratio of -228.50 and a beta of 1.30. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.76 and a current ratio of 3.05.

National-Oilwell Varco (NYSE:NOV) last released its earnings results on Monday, July 29th. The oil and gas exploration company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.03. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.08 billion. National-Oilwell Varco had a negative return on equity of 0.64% and a negative net margin of 63.23%. On average, research analysts anticipate that National-Oilwell Varco, Inc. will post -0.04 earnings per share for the current year.

In other National-Oilwell Varco news, Director Eric L. Mattson sold 4,750 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $21.02, for a total transaction of $99,845.00. Following the completion of the transaction, the director now owns 64,503 shares in the company, valued at approximately $1,355,853.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.92% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Truvestments Capital LLC acquired a new position in shares of National-Oilwell Varco during the 1st quarter worth about $26,000. TRUE Private Wealth Advisors acquired a new position in shares of National-Oilwell Varco during the 2nd quarter worth about $26,000. Berman Capital Advisors LLC boosted its stake in shares of National-Oilwell Varco by 385.0% during the 2nd quarter. Berman Capital Advisors LLC now owns 1,387 shares of the oil and gas exploration company’s stock worth $30,000 after buying an additional 1,101 shares during the last quarter. Investors Research Corp boosted its stake in shares of National-Oilwell Varco by 250.0% during the 2nd quarter. Investors Research Corp now owns 1,400 shares of the oil and gas exploration company’s stock worth $31,000 after buying an additional 1,000 shares during the last quarter. Finally, Rational Advisors LLC boosted its stake in shares of National-Oilwell Varco by 375.4% during the 2nd quarter. Rational Advisors LLC now owns 1,664 shares of the oil and gas exploration company’s stock worth $37,000 after buying an additional 1,314 shares during the last quarter. Hedge funds and other institutional investors own 95.64% of the company’s stock.

About National-Oilwell Varco (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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