National-Oilwell Varco Receives Buy Rating from Citigroup Inc. (NOV)
National-Oilwell Varco (NYSE:NOV)‘s stock had its “buy” rating reiterated by equities research analysts at Citigroup Inc. in a research note issued to investors on Tuesday, StockRatingsNetwork reports. They currently have a $96.00 target price on the stock. Citigroup Inc.’s price target suggests a potential upside of 22.90% from the company’s current price.
National-Oilwell Varco (NYSE:NOV) traded up 0.55% on Tuesday, hitting $78.54. The stock had a trading volume of 1,932,586 shares. National-Oilwell Varco has a one year low of $63.25 and a one year high of $84.71. The stock has a 50-day moving average of $77.95 and a 200-day moving average of $78.58. The company has a market cap of $33.656 billion and a price-to-earnings ratio of 14.36.
National-Oilwell Varco (NYSE:NOV) last announced its earnings results on Monday, April 28th. The company reported $1.40 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.39 by $0.01. The company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter last year, the company posted $1.29 earnings per share. National-Oilwell Varco’s revenue was up 8.9% compared to the same quarter last year. Analysts expect that National-Oilwell Varco will post $6.12 EPS for the current fiscal year.
A number of other firms have also recently commented on NOV. Analysts at Global Hunter Securities downgraded shares of National-Oilwell Varco from a “buy” rating to a “neutral” rating in a research note on Tuesday. They now have a $80.00 price target on the stock, down previously from $90.00. Separately, analysts at Societe Generale raised their price target on shares of National-Oilwell Varco from $84.00 to $85.00 in a research note on Tuesday. Finally, analysts at Bank of America reiterated a “buy” rating on shares of National-Oilwell Varco in a research note on Tuesday, April 15th. They now have a $85.00 price target on the stock, down previously from $93.00. Nine research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. National-Oilwell Varco has a consensus rating of “Buy” and a consensus price target of $89.58.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.