Susquehanna Lowers National-Oilwell Varco Price Target to $85.00 (NOV)
Investment analysts at Susquehanna dropped their target price on shares of National-Oilwell Varco (NYSE:NOV) from $90.00 to $85.00 in a note issued to investors on Wednesday. Susquehanna’s price target would indicate a potential upside of 11.81% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Howard Weil cut their price target on shares of National-Oilwell Varco from $90.00 to $82.00 in a research note on Monday. They now have a “sector perform” rating on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of National-Oilwell Varco in a research note on Friday, May 30th. They now have a $94.00 price target on the stock, down previously from $97.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of National-Oilwell Varco in a research note on Thursday, May 8th. They now have a $85.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. National-Oilwell Varco has a consensus rating of “Buy” and a consensus target price of $89.76.
National-Oilwell Varco (NYSE:NOV) traded up 0.12% on Wednesday, hitting $76.1098. The stock had a trading volume of 1,697,748 shares. National-Oilwell Varco has a 52-week low of $59.5221 and a 52-week high of $76.3841. The stock has a 50-day moving average of $73.23 and a 200-day moving average of $70.78. The company has a market cap of $32.655 billion and a P/E ratio of 13.48.
National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Monday, April 28th. The company reported $1.40 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $1.29 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Analysts expect that National-Oilwell Varco will post $6.11 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Wednesday, June 11th. This is a boost from National-Oilwell Varco’s previous quarterly dividend of $0.26.
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.