National Oilwell Varco Price Target Cut to $94.00 by Analysts at Cowen and Company (NOV)
Cowen and Company reduced their target price on shares of National Oilwell Varco (NYSE:NOV) from $103.00 to $94.00 in a research note issued on Tuesday, Analyst Ratings Net reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s price objective points to a potential upside of 17.78% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Susquehanna cut their price target on shares of National Oilwell Varco from $96.00 to $95.00 in a research note to investors on Tuesday, December 17th. They now have a “positive” rating on the stock. Separately, analysts at Barclays raised their price target on shares of National Oilwell Varco from $93.00 to $102.00 in a research note to investors on Tuesday, December 17th. They now have an “overweight” 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 Wednesday, December 11th. They now have a $83.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have assigned a buy rating to the company. National Oilwell Varco currently has a consensus rating of “Buy” and an average target price of $89.56.
Shares of National Oilwell Varco (NYSE:NOV) traded up 0.40% on Tuesday, hitting $79.81. The stock had a trading volume of 2,809,978 shares. National Oilwell Varco has a 52-week low of $63.08 and a 52-week high of $84.71. The stock’s 50-day moving average is $80.20 and its 200-day moving average is $77.13. The company has a market cap of $34.167 billion and a P/E ratio of 14.59.
National Oilwell Varco (NYSE:NOV) last announced its earnings results on Friday, October 25th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.02. The company had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter in the previous year, the company posted $1.52 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts predict that National Oilwell Varco will post $5.36 earnings per share for the current fiscal year.
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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