Share on StockTwits

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, 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.

The Fly On The Wall

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.