National Oilwell Varco, Inc. (NYSE:NOV)‘s stock had its “hold” rating restated by stock analysts at Royal Bank Of Canada in a research report issued to clients and investors on Friday.

Other research analysts have also issued research reports about the company. ValuEngine lowered National Oilwell Varco from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Piper Jaffray Companies upgraded National Oilwell Varco from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $36.00 to $37.00 in a research report on Tuesday, June 20th. Seaport Global Securities restated a “sell” rating on shares of National Oilwell Varco in a research report on Friday, July 28th. Jefferies Group LLC set a $38.00 price objective on National Oilwell Varco and gave the company a “hold” rating in a research report on Wednesday, May 31st. Finally, BidaskClub upgraded National Oilwell Varco from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. National Oilwell Varco has a consensus rating of “Hold” and an average price target of $38.82.

Shares of National Oilwell Varco (NOV) opened at 30.68 on Friday. The company’s market cap is $11.66 billion. The firm’s 50-day moving average price is $31.78 and its 200 day moving average price is $34.87. National Oilwell Varco has a 52 week low of $29.90 and a 52 week high of $43.63.

National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.14). The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.78 billion. National Oilwell Varco had a negative return on equity of 2.12% and a negative net margin of 33.24%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.30) earnings per share. On average, equities research analysts forecast that National Oilwell Varco will post ($0.40) EPS for the current year.

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A number of institutional investors have recently modified their holdings of NOV. Amalgamated Bank raised its position in shares of National Oilwell Varco by 6.1% in the first quarter. Amalgamated Bank now owns 26,521 shares of the oil and gas exploration company’s stock valued at $1,063,000 after buying an additional 1,525 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of National Oilwell Varco by 13.1% in the first quarter. Nomura Asset Management Co. Ltd. now owns 234,915 shares of the oil and gas exploration company’s stock valued at $9,416,000 after buying an additional 27,197 shares during the last quarter. World Asset Management Inc raised its position in shares of National Oilwell Varco by 9.7% in the first quarter. World Asset Management Inc now owns 43,074 shares of the oil and gas exploration company’s stock valued at $1,727,000 after buying an additional 3,816 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of National Oilwell Varco during the first quarter valued at about $295,000. Finally, Patton Albertson Miller Group LLC raised its position in shares of National Oilwell Varco by 41.7% in the first quarter. Patton Albertson Miller Group LLC now owns 31,222 shares of the oil and gas exploration company’s stock valued at $1,054,000 after buying an additional 9,186 shares during the last quarter. 90.31% of the stock is currently owned by institutional investors.

About National Oilwell Varco

National Oilwell Varco, Inc is an oilfield equipment manufacturer and technology provider. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies and Completion & Production Solutions. The Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore.

Analyst Recommendations for National Oilwell Varco (NYSE:NOV)

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