Standpoint Research Downgrades National-Oilwell Varco to Hold (NOV)
National-Oilwell Varco (NYSE:NOV) was downgraded by research analysts at Standpoint Research from a “buy” rating to a “hold” rating in a report released on Thursday, TheFlyOnTheWall.com reports.
National-Oilwell Varco (NYSE:NOV) traded down 0.86% on Thursday, hitting $85.4403. 1,251,769 shares of the company’s stock traded hands. National-Oilwell Varco has a 52 week low of $61.3796 and a 52 week high of $86.34. The stock has a 50-day moving average of $81.03 and a 200-day moving average of $73.04. The company has a market cap of $36.658 billion and a P/E ratio of 15.28.
National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data 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. On average, analysts predict that National-Oilwell Varco will post $5.97 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Tudor Pickering downgraded shares of National-Oilwell Varco from a “buy” rating to an “accumulate” rating in a research note on Wednesday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of National-Oilwell Varco in a research note on Wednesday, July 16th. They now have a $88.00 price target on the stock. Finally, analysts at Goldman Sachs raised their price target on shares of National-Oilwell Varco from $72.00 to $78.00 in a research note on Thursday, July 10th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $90.75.
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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