National Oilwell Varco Price Target Raised to $80.00 at Societe Generale (NOV)
Analysts at Societe Generale increased their price target on shares of National Oilwell Varco (NYSE:NOV) from $77.00 to $80.00 in a research report issued to clients and investors on Thursday, AnalystRatings.Net reports. The firm currently has a “hold” rating on the stock. Societe Generale’s target price would suggest a potential downside of 1.22% from the company’s current price.
Shares of National Oilwell Varco (NYSE:NOV) traded down 0.20% on Thursday, hitting $80.99. 1,980,387 shares of the company’s stock traded hands. National Oilwell Varco has a one year low of $63.08 and a one year high of $89.95. The stock’s 50-day moving average is $78.4 and its 200-day moving average is $72.02. The company has a market cap of $34.625 billion and a P/E ratio of 15.03.
National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.33 EPS for the quarter, meeting the Thomson Reuters 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 prior year, the company posted $1.46 earnings per share. The company’s quarterly revenue 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.
NOV has been the subject of a number of other recent research reports. Analysts at Robert W. Baird initiated coverage on shares of National Oilwell Varco in a research note to investors on Monday. They set a “neutral” rating and a $82.00 price target on the stock. Separately, analysts at Clarkson Capital initiated coverage on shares of National Oilwell Varco in a research note to investors on Monday, October 7th. They set an “outperform” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of National Oilwell Varco in a research note to investors on Thursday, September 26th. They now have a $83.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. National Oilwell Varco currently has a consensus rating of “Buy” and a consensus price target of $85.83.
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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