National-Oilwell Varco (NYSE:NOV) received a $35.00 target price from equities research analysts at Jefferies Group in a note issued to investors on Thursday. The firm currently has a “hold” rating on the oil and gas exploration company’s stock. Jefferies Group’s price target would suggest a potential downside of 8.93% from the stock’s current price.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Monday, October 9th. FBR & Co reissued a “buy” rating on shares of National-Oilwell Varco in a research note on Monday, October 16th. Piper Jaffray Companies reissued a “buy” rating and issued a $36.00 target price on shares of National-Oilwell Varco in a research note on Tuesday, September 26th. B. Riley reissued a “buy” rating on shares of National-Oilwell Varco in a research note on Wednesday, November 1st. Finally, Capital One Financial reissued an “equal weight” rating on shares of National-Oilwell Varco in a research note on Friday, October 27th. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $38.04.
Shares of National-Oilwell Varco (NYSE NOV) traded up $0.58 on Thursday, hitting $38.43. 2,372,285 shares of the company’s stock were exchanged, compared to its average volume of 2,751,500. The firm has a market cap of $14,600.00, a price-to-earnings ratio of -15.50, a PEG ratio of 19.29 and a beta of 0.95. National-Oilwell Varco has a 52 week low of $29.90 and a 52 week high of $41.90. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.62 and a current ratio of 2.75.
National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, beating 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 company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the business earned ($0.34) EPS. National-Oilwell Varco’s revenue for the quarter was up 11.5% on a year-over-year basis. equities research analysts anticipate that National-Oilwell Varco will post -0.41 EPS for the current year.
A number of hedge funds have recently made changes to their positions in the business. Parametric Portfolio Associates LLC grew its holdings in National-Oilwell Varco by 1.7% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,122,145 shares of the oil and gas exploration company’s stock worth $40,094,000 after acquiring an additional 18,333 shares in the last quarter. 683 Capital Management LLC acquired a new position in National-Oilwell Varco during the 3rd quarter worth $8,575,000. Moors & Cabot Inc. grew its holdings in National-Oilwell Varco by 6.7% during the 3rd quarter. Moors & Cabot Inc. now owns 27,646 shares of the oil and gas exploration company’s stock worth $991,000 after acquiring an additional 1,726 shares in the last quarter. Afam Capital Inc. grew its holdings in National-Oilwell Varco by 4.3% during the 3rd quarter. Afam Capital Inc. now owns 144,634 shares of the oil and gas exploration company’s stock worth $5,168,000 after acquiring an additional 5,919 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in 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. 92.47% of the stock is owned by institutional investors.
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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.