National Oilwell Varco Given “Hold” Rating at Socgen (NOV)
National Oilwell Varco (NYSE:NOV)‘s stock had its “hold” rating reaffirmed by equities researchers at Socgen in a research report issued on Thursday, Analyst Ratings Network reports. They currently have a $82.00 price objective on the stock, down from their previous price objective of $85.00. Socgen’s price objective would suggest a potential upside of 6.25% from the company’s current price.
National Oilwell Varco (NYSE:NOV) traded down 0.14% on Thursday, hitting $77.07. The stock had a trading volume of 1,498,910 shares. National Oilwell Varco has a 52 week low of $63.08 and a 52 week high of $84.71. The stock has a 50-day moving average of $79.20 and a 200-day moving average of $77.48. The company has a market cap of $32.994 billion and a P/E ratio of 14.16.
National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Friday, October 25th. The company reported $1.34 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.52 earnings per share. The company’s quarterly revenue 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.
A number of other analysts have also recently weighed in on NOV. Analysts at RBC Capital downgraded shares of National Oilwell Varco from an “outperform” rating to a “sector perform” rating in a research note to investors on Wednesday, January 8th. They now have a $86.00 price target on the stock. Separately, analysts at Cowen and Company cut their price target on shares of National Oilwell Varco from $103.00 to $94.00 in a research note to investors on Tuesday, January 7th. They now have an “outperform” rating on the stock. Finally, 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $89.27.
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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