$0.02 Earnings Per Share Expected for National Oilwell Varco (NOV) This Quarter

Wall Street analysts forecast that National Oilwell Varco (NYSE:NOV) will post earnings per share of $0.02 for the current quarter, Zacks reports. Eleven analysts have made estimates for National Oilwell Varco’s earnings, with the highest EPS estimate coming in at $0.05 and the lowest estimate coming in at $0.00. National Oilwell Varco posted earnings of ($0.14) per share during the same quarter last year, which suggests a positive year over year growth rate of 114.3%. The firm is scheduled to report its next earnings report after the market closes on Thursday, July 26th.

According to Zacks, analysts expect that National Oilwell Varco will report full year earnings of $0.10 per share for the current year, with EPS estimates ranging from ($0.15) to $0.26. For the next fiscal year, analysts forecast that the firm will post earnings of $1.10 per share, with EPS estimates ranging from $0.30 to $1.51. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for National Oilwell Varco.

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National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Thursday, April 26th. The oil and gas exploration company reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.13). National Oilwell Varco had a negative return on equity of 1.15% and a negative net margin of 2.49%. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.81 billion.

Several research analysts have recently issued reports on the company. Seaport Global Securities restated a “sell” rating and issued a $30.00 price target on shares of National Oilwell Varco in a research report on Monday, February 12th. B. Riley set a $42.00 price target on National Oilwell Varco and gave the stock a “buy” rating in a research report on Thursday, February 8th. SunTrust Banks set a $31.00 price target on National Oilwell Varco and gave the stock a “hold” rating in a research report on Monday, April 16th. Susquehanna Bancshares set a $37.00 price target on National Oilwell Varco and gave the stock a “hold” rating in a research report on Friday, April 13th. Finally, Wells Fargo & Co raised their price target on National Oilwell Varco from $37.00 to $47.00 and gave the stock a “market perform” rating in a research report on Thursday, May 24th. Four research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $37.63.

Shares of National Oilwell Varco traded up $0.56, hitting $41.87, during midday trading on Wednesday, Marketbeat reports. The company had a trading volume of 2,237,900 shares, compared to its average volume of 3,194,566. National Oilwell Varco has a 12 month low of $29.90 and a 12 month high of $45.08. The company has a quick ratio of 1.89, a current ratio of 3.37 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $15.76 billion, a P/E ratio of -99.69, a P/E/G ratio of 68.31 and a beta of 0.81.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Thursday, June 14th. National Oilwell Varco’s dividend payout ratio is -47.62%.

In other National Oilwell Varco news, VP Craig L. Weinstock sold 5,000 shares of National Oilwell Varco stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $44.03, for a total value of $220,150.00. Following the sale, the vice president now owns 46,372 shares of the company’s stock, valued at approximately $2,041,759.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott K. Duff sold 40,459 shares of National Oilwell Varco stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $41.02, for a total value of $1,659,628.18. Following the completion of the sale, the vice president now directly owns 72,697 shares in the company, valued at approximately $2,982,030.94. The disclosure for this sale can be found here. Insiders sold a total of 52,880 shares of company stock worth $2,144,411 in the last three months. Company insiders own 0.79% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOV. BlackRock Inc. increased its position in shares of National Oilwell Varco by 0.3% in the fourth quarter. BlackRock Inc. now owns 25,257,983 shares of the oil and gas exploration company’s stock valued at $909,792,000 after acquiring an additional 78,663 shares during the last quarter. Parnassus Investments CA increased its position in shares of National Oilwell Varco by 10.1% in the fourth quarter. Parnassus Investments CA now owns 6,929,938 shares of the oil and gas exploration company’s stock valued at $249,616,000 after acquiring an additional 637,925 shares during the last quarter. American Century Companies Inc. increased its position in shares of National Oilwell Varco by 4.2% in the fourth quarter. American Century Companies Inc. now owns 6,390,274 shares of the oil and gas exploration company’s stock valued at $230,178,000 after acquiring an additional 255,563 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of National Oilwell Varco by 3.1% in the first quarter. Wells Fargo & Company MN now owns 5,354,118 shares of the oil and gas exploration company’s stock valued at $197,086,000 after acquiring an additional 159,249 shares during the last quarter. Finally, Lyrical Asset Management LP increased its position in shares of National Oilwell Varco by 5.9% in the fourth quarter. Lyrical Asset Management LP now owns 4,687,024 shares of the oil and gas exploration company’s stock valued at $168,827,000 after acquiring an additional 261,103 shares during the last quarter. 94.00% of the stock is currently owned by hedge funds and other institutional investors.

About National Oilwell Varco

National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

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Earnings History and Estimates for National Oilwell Varco (NYSE:NOV)

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