National-Oilwell Varco (NYSE:NOV) has been assigned a $37.00 price objective by investment analysts at Royal Bank of Canada in a note issued to investors on Thursday. The brokerage currently has a “hold” rating on the oil and gas exploration company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 4.08% from the company’s previous close.
A number of other equities research analysts have also issued reports on NOV. Scotiabank set a $37.00 price target on National-Oilwell Varco and gave the company a “hold” rating in a research report on Friday, October 27th. FBR & Co restated a “buy” rating and issued a $42.00 price target on shares of National-Oilwell Varco in a research report on Thursday, August 31st. Zacks Investment Research cut National-Oilwell Varco from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. ValuEngine cut National-Oilwell Varco from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. Finally, R. F. Lafferty decreased their price objective on National-Oilwell Varco from $33.00 to $31.00 and set a “hold” rating on the stock in a report on Monday, November 6th. Five research analysts have rated the stock with a sell rating, eighteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. National-Oilwell Varco presently has a consensus rating of “Hold” and a consensus target price of $38.00.
National-Oilwell Varco (NOV) traded up $1.23 during trading hours on Thursday, reaching $35.55. The company’s stock had a trading volume of 2,988,700 shares, compared to its average volume of 3,292,779. National-Oilwell Varco has a 52 week low of $29.90 and a 52 week high of $41.90. The company has a quick ratio of 1.62, a current ratio of 2.75 and a debt-to-equity ratio of 0.19.
A number of large investors have recently added to or reduced their stakes in NOV. IHT Wealth Management LLC raised its stake in shares of National-Oilwell Varco by 1,923.1% in the second quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock valued at $112,000 after acquiring an additional 500 shares in the last quarter. Simplex Trading raised its stake in shares of National-Oilwell Varco by 12.3% in the fourth quarter. Simplex Trading now owns 741 shares of the oil and gas exploration company’s stock valued at $1,190,000 after acquiring an additional 81 shares in the last quarter. Cohen Lawrence B acquired a new stake in shares of National-Oilwell Varco in the third quarter valued at $208,000. TCI Wealth Advisors Inc. raised its stake in shares of National-Oilwell Varco by 1,441.6% in the third quarter. TCI Wealth Advisors Inc. now owns 2,744 shares of the oil and gas exploration company’s stock valued at $101,000 after acquiring an additional 2,566 shares in the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of National-Oilwell Varco in the third quarter valued at $107,000. Institutional investors own 92.47% of the company’s stock.
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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.
