FBR Capital Markets Increases National-Oilwell Varco Price Target to $100.00 (NOV)
Analysts at FBR Capital Markets lifted their price objective on shares of National-Oilwell Varco (NYSE:NOV) from $92.00 to $100.00 in a research report issued to clients and investors on Tuesday. The firm currently has an “outperform” rating on the stock. FBR Capital Markets’ price objective would indicate a potential upside of 21.23% from the company’s current price.
Shares of National-Oilwell Varco (NYSE:NOV) opened at 82.49 on Tuesday. National-Oilwell Varco has a 1-year low of $63.4626 and a 1-year high of $86.41. The stock has a 50-day moving average of $83.21 and a 200-day moving average of $74.73. The company has a market cap of $35.490 billion and a P/E ratio of 14.06.
National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results 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 $6.01 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Wednesday, September 10th.
Several other analysts have also recently commented on the stock. Analysts at Susquehanna raised their price target on shares of National-Oilwell Varco from $84.00 to $96.00 in a research note on Thursday, July 31st. Separately, analysts at Global Hunter Securities raised their price target on shares of National-Oilwell Varco from $3.00 to $83.00 in a research note on Thursday, July 31st. Finally, analysts at Morgan Stanley raised their price target on shares of National-Oilwell Varco from $88.00 to $90.00 in a research note on Thursday, July 31st. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. National-Oilwell Varco presently has a consensus rating of “Buy” and an average price target of $92.45.
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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