National-Oilwell Varco Receives Consensus Rating of “Buy” from Brokerages (NYSE:NOV)
National-Oilwell Varco (NYSE:NOV) has been given a consensus recommendation of “Buy” by the twenty-five brokerages that are currently covering the stock, StockRatingsNetwork.com reports. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $90.95.
NOV has been the subject of a number of recent research reports. Analysts at Gabelli initiated coverage on shares of National-Oilwell Varco in a research note on Wednesday, June 25th. They set a “buy” rating and a $122.00 price target on the stock. Separately, 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. Finally, 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.
Shares of National-Oilwell Varco (NYSE:NOV) traded down 0.38% on Monday, hitting $82.317. The stock had a trading volume of 675,536 shares. National-Oilwell Varco has a 1-year low of $61.3796 and a 1-year high of $82.69. The stock has a 50-day moving average of $76.19 and a 200-day moving average of $71.42. The company has a market cap of $35.318 billion and a price-to-earnings ratio of 14.65.
National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data 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. On average, analysts predict that National-Oilwell Varco will post $6.02 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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