National-Oilwell Varco Price Target Increased to $90.00 by Analysts at Morgan Stanley (NOV)
Morgan Stanley lifted their price objective on shares of National-Oilwell Varco (NYSE:NOV) from $88.00 to $90.00 in a research note issued on Thursday. Morgan Stanley’s target price points to a potential upside of 10.99% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Raymond James reiterated an “outperform” rating on shares of National-Oilwell Varco in a research note on Wednesday. They now have a $98.00 price target on the stock, up previously from $95.00. Separately, 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. Finally, 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. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. National-Oilwell Varco currently has a consensus rating of “Buy” and a consensus price target of $92.09.
National-Oilwell Varco (NYSE:NOV) traded up 0.06% on Thursday, hitting $81.09. The stock had a trading volume of 3,567,147 shares. National-Oilwell Varco has a 52-week low of $63.4626 and a 52-week high of $86.41. The stock’s 50-day moving average is $82.40 and its 200-day moving average is $73.65. The company has a market cap of $34.825 billion and a P/E ratio of 13.88.
National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $1.33 earnings per share. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, analysts predict that National-Oilwell Varco will post $5.99 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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