National Oilwell Varco, Inc. (NYSE:NOV) had its target price lifted by research analysts at Citigroup Inc. from $34.00 to $36.00 in a note issued to investors on Thursday. The firm presently has a “neutral” rating on the oil and gas exploration company’s stock. Citigroup Inc.’s price target indicates a potential upside of 2.19% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Piper Jaffray Companies reissued a “buy” rating and set a $36.00 price objective on shares of National Oilwell Varco in a report on Tuesday, September 26th. ValuEngine raised shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of National Oilwell Varco in a report on Friday, September 1st. FBR & Co reaffirmed a “buy” rating and issued a $42.00 target price on shares of National Oilwell Varco in a report on Thursday, August 31st. Finally, Loop Capital raised shares of National Oilwell Varco from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Thursday, August 17th. Four equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $38.71.

Shares of National Oilwell Varco (NOV) traded up 1.73% on Thursday, reaching $35.84. 881,561 shares of the company’s stock were exchanged. National Oilwell Varco has a one year low of $29.90 and a one year high of $43.63. The firm’s market capitalization is $13.62 billion. The firm has a 50 day moving average of $32.87 and a 200 day moving average of $34.02.

National Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.14). National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the company earned ($0.30) earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities research analysts predict that National Oilwell Varco will post ($0.41) EPS for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of the business. Osborn Williams & Donohoe LLC boosted its position in shares of National Oilwell Varco by 44.9% during the 3rd quarter. Osborn Williams & Donohoe LLC now owns 51,751 shares of the oil and gas exploration company’s stock worth $1,849,000 after purchasing an additional 16,024 shares in the last quarter. Fulton Bank N.A. purchased a new stake in shares of National Oilwell Varco during the 3rd quarter worth $241,000. Park National Corp OH boosted its position in shares of National Oilwell Varco by 25.2% during the 3rd quarter. Park National Corp OH now owns 27,230 shares of the oil and gas exploration company’s stock worth $973,000 after purchasing an additional 5,473 shares in the last quarter. Intl Fcstone Inc. purchased a new stake in shares of National Oilwell Varco during the 2nd quarter worth $392,000. Finally, Lord Abbett & CO. LLC boosted its position in shares of National Oilwell Varco by 1.8% during the 2nd quarter. Lord Abbett & CO. LLC now owns 202,000 shares of the oil and gas exploration company’s stock worth $6,654,000 after purchasing an additional 3,500 shares in the last quarter. Institutional investors own 90.29% of the company’s stock.

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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