National Oilwell Varco, Inc. (NYSE:NOV) has been assigned an average recommendation of “Hold” from the thirty-two brokerages that are presently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a sell recommendation, nineteen have given a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $37.86.

A number of research analysts have issued reports on the company. Scotiabank set a $37.00 price objective on National Oilwell Varco and gave the company a “hold” rating in a report on Friday, October 27th. FBR & Co reissued a “buy” rating and set a $42.00 price objective on shares of National Oilwell Varco in a report on Thursday, August 31st. ValuEngine raised National Oilwell Varco from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Royal Bank Of Canada reissued a “hold” rating on shares of National Oilwell Varco in a report on Friday, September 1st. Finally, UBS AG reissued a “neutral” rating and set a $37.00 price objective (down from $38.00) on shares of National Oilwell Varco in a report on Monday, July 31st.

Institutional investors and hedge funds have recently modified their holdings of the stock. IHT Wealth Management LLC grew its position in shares of National Oilwell Varco by 1,923.1% in the 2nd quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock valued at $112,000 after purchasing an additional 500 shares during the period. Exane Derivatives grew its position in shares of National Oilwell Varco by 113.8% in the 2nd quarter. Exane Derivatives now owns 3,985 shares of the oil and gas exploration company’s stock valued at $131,000 after purchasing an additional 2,121 shares during the period. United Capital Financial Advisers LLC acquired a new position in shares of National Oilwell Varco in the 1st quarter valued at approximately $206,000. Chicago Partners Investment Group LLC acquired a new position in shares of National Oilwell Varco in the 2nd quarter valued at approximately $194,000. Finally, Lakeview Capital Partners LLC grew its position in shares of National Oilwell Varco by 2.6% in the 2nd quarter. Lakeview Capital Partners LLC now owns 6,194 shares of the oil and gas exploration company’s stock valued at $204,000 after purchasing an additional 155 shares during the period. Institutional investors and hedge funds own 90.18% of the company’s stock.

National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.01. National Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company earned ($0.34) earnings per share. The business’s revenue was up 11.5% compared to the same quarter last year.

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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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