National-Oilwell Varco Rating Reiterated by Raymond James (NOV)
National-Oilwell Varco (NYSE:NOV)‘s stock had its “outperform” rating restated by equities research analysts at Raymond James in a research note issued to investors on Wednesday. They currently have a $98.00 price objective on the stock, up from their previous price objective of $95.00. Raymond James’ price objective would suggest a potential upside of 19.91% from the company’s current price.
Shares of National-Oilwell Varco (NYSE:NOV) traded down 2.01% on Wednesday, hitting $81.73. The stock had a trading volume of 5,051,018 shares. National-Oilwell Varco has a 1-year low of $62.2994 and a 1-year high of $86.41. The stock’s 50-day moving average is $82.06 and its 200-day moving average is $73.45. The company has a market cap of $35.066 billion and a P/E ratio of 14.79.
National-Oilwell Varco (NYSE:NOV) last announced its earnings results on Tuesday, July 29th. The company reported $1.61 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.44 by $0.17. The company had revenue of $5.26 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter last year, the company posted $1.33 earnings per share. National-Oilwell Varco’s revenue was up 12.3% compared to the same quarter last year. Analysts expect that National-Oilwell Varco will post $5.98 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on NOV. Analysts at Howard Weil raised their price target on shares of National-Oilwell Varco from $82.00 to $85.00 in a research note on Wednesday. They now have a “sector perform” rating on the stock. Separately, analysts at Iberia Capital downgraded shares of National-Oilwell Varco from an “outperform” rating to a “sector perform” rating in a research note on Wednesday. They now have a $88.00 price target on the stock, up previously from $79.31. Finally, analysts at Jefferies Group downgraded shares of National-Oilwell Varco from a “buy” rating to a “hold” rating in a research note on Wednesday. They now have a $91.00 price target on the stock, up previously from $85.62. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. National-Oilwell Varco has an average rating of “Buy” and an average price target of $91.36.
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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