Share on StockTwits

Investment analysts at Gabelli started coverage on shares of National-Oilwell Varco (NYSE:NOV) in a note issued to investors on Wednesday. The firm set a “buy” rating and a $122.00 price target on the stock. Gabelli’s price objective suggests a potential upside of 53.38% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of National-Oilwell Varco in a research note on Wednesday, June 18th. They now have a $87.00 price target on the stock, down previously from $94.00. Separately, analysts at Societe Generale upgraded shares of National-Oilwell Varco from a “hold” rating to a “buy” rating in a research note on Thursday, June 12th. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of National-Oilwell Varco in a research note on Thursday, June 5th. They now have a $85.00 price target on the stock, down previously from $90.00. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $90.95.

National-Oilwell Varco (NYSE:NOV) opened at 79.54 on Wednesday. National-Oilwell Varco has a 52 week low of $60.8837 and a 52 week high of $80.92. The stock has a 50-day moving average of $75.41 and a 200-day moving average of $71.20. The company has a market cap of $34.126 billion and a P/E ratio of 14.10. National-Oilwell Varco also was the target of a significant increase in short interest in the month of May. As of May 30th, there was short interest totalling 13,558,752 shares, an increase of 31.1% from the May 15th total of 10,344,061 shares. Approximately 3.2% of the company’s shares are short sold. Based on an average daily trading volume, of 3,016,307 shares, the short-interest ratio is currently 4.5 days.

National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Monday, April 28th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $1.29 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Analysts expect that National-Oilwell Varco will post $6.04 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Wednesday, June 11th. This is an increase 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.