Goldman Sachs Increases National-Oilwell Varco Price Target to $78.00 (NOV)
Research analysts at Goldman Sachs upped their price target on shares of National-Oilwell Varco (NYSE:NOV) from $72.00 to $78.00 in a report released on Thursday. Goldman Sachs’ target price points to a potential downside of 6.43% from the stock’s previous close.
A number of other analysts have also recently weighed in on NOV. 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. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. National-Oilwell Varco has an average rating of “Buy” and a consensus target price of $90.81.
Shares of National-Oilwell Varco (NYSE:NOV) traded down 1.35% during mid-day trading on Thursday, hitting $83.36. 3,699,075 shares of the company’s stock traded hands. National-Oilwell Varco has a 1-year low of $61.3796 and a 1-year high of $84.67. The stock has a 50-day moving average of $78.57 and a 200-day moving average of $72.15. The company has a market cap of $35.765 billion and a P/E ratio of 14.98.
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. Analysts expect that National-Oilwell Varco will post $6.03 EPS 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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