National-Oilwell Varco (NYSE:NOV) Announces Quarterly Earnings Results

National-Oilwell Varco (NYSE:NOV) announced its quarterly earnings data on Monday. The oil and gas exploration company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.03, Fidelity Earnings reports. National-Oilwell Varco had a negative return on equity of 0.29% and a negative net margin of 0.47%. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.08 billion.

NOV stock traded up $0.80 on Wednesday, reaching $23.82. The company’s stock had a trading volume of 10,735,264 shares, compared to its average volume of 4,222,271. National-Oilwell Varco has a 52 week low of $19.57 and a 52 week high of $49.08. The company has a market capitalization of $8.38 billion, a P/E ratio of -297.75 and a beta of 1.28. The business has a fifty day simple moving average of $21.45. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.30 and a quick ratio of 1.81.

Several brokerages have issued reports on NOV. SunTrust Banks cut their price objective on National-Oilwell Varco to $24.00 and set a “hold” rating on the stock in a research note on Tuesday, April 16th. Barclays dropped their price target on National-Oilwell Varco from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Monday, April 15th. TheStreet cut National-Oilwell Varco from a “c-” rating to a “d+” rating in a research report on Friday, May 31st. Seaport Global Securities upgraded National-Oilwell Varco from a “sell” rating to a “neutral” rating in a research report on Wednesday. Finally, Johnson Rice cut National-Oilwell Varco from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a research report on Monday, July 15th. Six equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. National-Oilwell Varco presently has a consensus rating of “Hold” and a consensus target price of $35.20.

National-Oilwell Varco Company Profile

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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Earnings History for National-Oilwell Varco (NYSE:NOV)

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