National-Oilwell Varco (NYSE:NOV) has been assigned a $33.00 target price by analysts at Cowen in a research report issued to clients and investors on Thursday. The firm currently has a “hold” rating on the oil and gas exploration company’s stock. Cowen’s price objective indicates a potential downside of 15.69% from the company’s previous close.
A number of other analysts also recently issued reports on NOV. B. Riley restated a “buy” rating on shares of National-Oilwell Varco in a research report on Wednesday, November 1st. Jefferies Group set a $35.00 price target on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Thursday, January 4th. Piper Jaffray Companies restated a “buy” rating and issued a $36.00 price target on shares of National-Oilwell Varco in a research report on Tuesday, September 26th. JPMorgan Chase & Co. lowered their price target on National-Oilwell Varco from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, October 30th. Finally, Royal Bank of Canada set a $37.00 price target on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Sunday, October 8th. Four investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. National-Oilwell Varco has an average rating of “Hold” and an average price target of $38.04.
Shares of National-Oilwell Varco (NOV) opened at $39.14 on Thursday. The stock has a market capitalization of $14,874.45, a price-to-earnings ratio of -15.72, a P/E/G ratio of 21.18 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 current ratio of 2.75 and a quick ratio of 1.62.
Hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. increased its stake in shares of National-Oilwell Varco by 8.4% during the second quarter. Pacer Advisors Inc. now owns 7,996 shares of the oil and gas exploration company’s stock valued at $263,000 after buying an additional 619 shares during the period. JPMorgan Chase & Co. increased its stake in shares of National-Oilwell Varco by 106.7% during the second quarter. JPMorgan Chase & Co. now owns 691,571 shares of the oil and gas exploration company’s stock valued at $22,780,000 after buying an additional 357,021 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of National-Oilwell Varco during the second quarter valued at $1,060,000. Ameriprise Financial Inc. increased its stake in shares of National-Oilwell Varco by 5.5% during the second quarter. Ameriprise Financial Inc. now owns 254,266 shares of the oil and gas exploration company’s stock valued at $8,371,000 after buying an additional 13,241 shares during the period. Finally, Norinchukin Bank The increased its stake in shares of National-Oilwell Varco by 7.2% during the second quarter. Norinchukin Bank The now owns 26,374 shares of the oil and gas exploration company’s stock valued at $869,000 after buying an additional 1,763 shares during the period. Institutional investors and hedge funds own 92.44% 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.
