National Oilwell Varco, Inc. (NYSE:NOV) has been given a $30.00 price objective by analysts at Cowen and Company in a research note issued to investors on Friday. The brokerage currently has a “hold” rating on the oil and gas exploration company’s stock. Cowen and Company’s target price suggests a potential downside of 14.36% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the stock. FBR & Co reissued a “buy” rating and set a $42.00 price target on shares of National Oilwell Varco in a research report on Thursday, August 31st. ValuEngine raised shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. BMO Capital Markets reissued a “sell” rating and set a $30.00 price target on shares of National Oilwell Varco in a research report on Thursday, June 22nd. Royal Bank Of Canada reissued a “hold” rating on shares of National Oilwell Varco in a research report on Friday, September 1st. Finally, UBS AG reissued a “neutral” rating and set a $37.00 price target (down from $38.00) on shares of National Oilwell Varco in a research report on Monday, July 31st. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. National Oilwell Varco has a consensus rating of “Hold” and an average target price of $38.71.

Shares of National Oilwell Varco (NYSE:NOV) traded down 2.78% during mid-day trading on Friday, reaching $35.03. 2,937,191 shares of the company’s stock traded hands. The firm’s market cap is $13.31 billion. The company’s 50 day moving average is $33.05 and its 200-day moving average is $34.04. 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 announced its quarterly earnings data on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, meeting 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 firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period last year, the firm earned ($0.30) earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts expect that National Oilwell Varco will post ($0.41) earnings per share for the current fiscal year.

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A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in National Oilwell Varco by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 38,794,232 shares of the oil and gas exploration company’s stock valued at $1,277,882,000 after buying an additional 930,849 shares during the last quarter. First Eagle Investment Management LLC increased its stake in National Oilwell Varco by 1.7% in the 2nd quarter. First Eagle Investment Management LLC now owns 26,505,005 shares of the oil and gas exploration company’s stock valued at $873,075,000 after buying an additional 452,148 shares during the last quarter. BlackRock Inc. increased its stake in National Oilwell Varco by 1.4% in the 2nd quarter. BlackRock Inc. now owns 25,195,874 shares of the oil and gas exploration company’s stock valued at $829,954,000 after buying an additional 354,574 shares during the last quarter. Harris Associates L P increased its stake in National Oilwell Varco by 16.0% in the 2nd quarter. Harris Associates L P now owns 18,574,753 shares of the oil and gas exploration company’s stock valued at $611,852,000 after buying an additional 2,557,484 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in National Oilwell Varco by 2.8% in the 1st quarter. Clearbridge Investments LLC now owns 13,209,045 shares of the oil and gas exploration company’s stock valued at $529,551,000 after buying an additional 359,809 shares during the last quarter. Hedge funds and other institutional investors own 90.29% of the company’s stock.

National Oilwell Varco Company Profile

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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