National Oilwell Varco Given “Buy” Rating at Jefferies Group (NOV)
National Oilwell Varco (NYSE:NOV)‘s stock had its “buy” rating restated by stock analysts at Jefferies Group in a report issued on Wednesday, AnalystRatingsNetwork.com reports. They currently have a $91.00 target price on the stock. Jefferies Group’s price objective would indicate a potential upside of 15.66% from the company’s current price.
A number of other firms have also recently commented on NOV. Analysts at Raymond James raised their price target on shares of National Oilwell Varco (NYSE:NOV) from $85.00 to $88.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Guggenheim raised their price target on shares of National Oilwell Varco (NYSE:NOV) from $85.00 to $90.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Credit Suisse upgraded shares of National Oilwell Varco (NYSE:NOV) from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, September 10th. They now have a $90.00 price target on the stock, up previously from $82.00.
One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $86.43.
National Oilwell Varco (NYSE:NOV) traded up 0.53% during mid-day trading on Wednesday, hitting $79.10. 2,335,172 shares of the company’s stock traded hands. National Oilwell Varco has a 52-week low of $63.08 and a 52-week high of $82.47. The stock has a 50-day moving average of $75.40 and a 200-day moving average of $70.88. The company has a market cap of $33.817 billion and a P/E ratio of 14.57.
National Oilwell Varco (NYSE:NOV) last announced its earnings results on Tuesday, July 30th. The company reported $1.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.33. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. Analysts expect that National Oilwell Varco will post $5.34 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Wednesday, September 11th.
National Oilwell Varco, Inc is a provider of equipment and components used in oil and gas drilling and production operations, oilfield services, and supply chain integration services to the upstream oil and gas industry.
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