National-Oilwell Varco, Inc. to Post Q1 2021 Earnings of ($0.05) Per Share, Capital One Financial Forecasts (NYSE:NOV)

National-Oilwell Varco, Inc. (NYSE:NOV) – Research analysts at Capital One Financial issued their Q1 2021 earnings per share (EPS) estimates for shares of National-Oilwell Varco in a research report issued to clients and investors on Tuesday, July 28th. Capital One Financial analyst L. Lemoine forecasts that the oil and gas exploration company will post earnings of ($0.05) per share for the quarter. Capital One Financial currently has a “Overweight” rating on the stock. Capital One Financial also issued estimates for National-Oilwell Varco’s Q2 2021 earnings at ($0.02) EPS and Q3 2021 earnings at $0.01 EPS.

National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Monday, July 27th. The oil and gas exploration company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.15. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.53 billion. National-Oilwell Varco had a negative net margin of 35.56% and a negative return on equity of 2.32%. The company’s quarterly revenue was down 29.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.02 earnings per share.

Several other research firms have also commented on NOV. Barclays lowered shares of National-Oilwell Varco from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $14.00 to $8.00 in a research report on Thursday, May 14th. They noted that the move was a valuation call. ValuEngine raised shares of National-Oilwell Varco from a “hold” rating to a “buy” rating in a research note on Friday, May 1st. Piper Sandler reduced their price objective on shares of National-Oilwell Varco from $11.40 to $11.30 and set a “neutral” rating on the stock in a research note on Wednesday. Cowen upped their price objective on shares of National-Oilwell Varco from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Morgan Stanley upped their price objective on shares of National-Oilwell Varco from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. National-Oilwell Varco currently has an average rating of “Buy” and an average target price of $17.91.

NOV stock opened at $11.51 on Friday. The company’s 50 day simple moving average is $11.99 and its 200-day simple moving average is $14.70. National-Oilwell Varco has a 12 month low of $8.00 and a 12 month high of $25.81. The company has a current ratio of 2.86, a quick ratio of 1.79 and a debt-to-equity ratio of 0.37.

Several hedge funds have recently modified their holdings of NOV. Point72 Hong Kong Ltd purchased a new position in shares of National-Oilwell Varco in the 4th quarter valued at $30,000. Pearl River Capital LLC purchased a new position in shares of National-Oilwell Varco in the 1st quarter valued at $44,000. Schroder Investment Management Group raised its stake in shares of National-Oilwell Varco by 281.0% in the 1st quarter. Schroder Investment Management Group now owns 4,462 shares of the oil and gas exploration company’s stock valued at $49,000 after acquiring an additional 3,291 shares during the period. First Hawaiian Bank purchased a new position in shares of National-Oilwell Varco in the 1st quarter valued at $99,000. Finally, PFS Investments Inc. raised its stake in shares of National-Oilwell Varco by 19.8% in the 1st quarter. PFS Investments Inc. now owns 10,592 shares of the oil and gas exploration company’s stock valued at $104,000 after acquiring an additional 1,747 shares during the period. 95.83% of the stock is currently owned by institutional investors and hedge funds.

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 and Estimates for National-Oilwell Varco (NYSE:NOV)

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