National-Oilwell Varco (NYSE:NOV) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other research firms also recently commented on NOV. Jefferies Group set a $34.00 price objective on National-Oilwell Varco and gave the stock a “hold” rating in a report on Thursday, October 5th. Piper Jaffray Companies restated a “buy” rating and set a $36.00 price target on shares of National-Oilwell Varco in a research note on Tuesday, September 26th. Royal Bank of Canada set a $37.00 price objective on National-Oilwell Varco and gave the company a “hold” rating in a research note on Thursday, December 21st. Deutsche Bank started coverage on National-Oilwell Varco in a research note on Tuesday, October 10th. They set a “hold” rating and a $39.00 price objective for the company. Finally, Citigroup boosted their price objective on National-Oilwell Varco from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, October 5th. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. National-Oilwell Varco currently has an average rating of “Hold” and an average price target of $38.00.

National-Oilwell Varco (NOV) traded up $1.05 on Wednesday, hitting $37.85. The stock had a trading volume of 3,400,071 shares, compared to its average volume of 2,850,000. The company has a current ratio of 2.75, a quick ratio of 1.62 and a debt-to-equity ratio of 0.19. The stock has a market cap of $14,380.00, a price-to-earnings ratio of -15.26, a PEG ratio of 18.88 and a beta of 0.95. National-Oilwell Varco has a 12-month low of $29.90 and a 12-month high of $41.90.

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 (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. National-Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the firm earned ($0.34) EPS. National-Oilwell Varco’s quarterly revenue was up 11.5% compared to the same quarter last year. equities analysts anticipate that National-Oilwell Varco will post -0.41 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HAP Trading LLC grew its stake in National-Oilwell Varco by 281.5% during the 2nd quarter. HAP Trading LLC now owns 21,957 shares of the oil and gas exploration company’s stock worth $723,000 after purchasing an additional 34,057 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of National-Oilwell Varco by 4.7% during the 3rd quarter. California Public Employees Retirement System now owns 1,211,321 shares of the oil and gas exploration company’s stock worth $43,280,000 after acquiring an additional 54,039 shares in the last quarter. Swiss National Bank lifted its holdings in shares of National-Oilwell Varco by 1.4% in the 3rd quarter. Swiss National Bank now owns 1,399,047 shares of the oil and gas exploration company’s stock valued at $49,988,000 after purchasing an additional 19,100 shares during the last quarter. Glenview Trust Co lifted its holdings in shares of National-Oilwell Varco by 4.0% in the 2nd quarter. Glenview Trust Co now owns 245,030 shares of the oil and gas exploration company’s stock valued at $8,071,000 after purchasing an additional 9,382 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. lifted its holdings in shares of National-Oilwell Varco by 1.2% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 481,830 shares of the oil and gas exploration company’s stock valued at $17,216,000 after purchasing an additional 5,641 shares during the last quarter. 92.47% of the stock is owned by hedge funds and other institutional investors.

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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.

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Analyst Recommendations for National-Oilwell Varco (NYSE:NOV)

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