Shares of National-Oilwell Varco, Inc. (NYSE:NOV) have earned a consensus rating of “Hold” from the thirty-two brokerages that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation, twenty have assigned a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $37.24.

A number of analysts recently weighed in on the company. Cowen set a $33.00 target price on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Thursday, January 11th. Susquehanna Bancshares set a $35.00 target price on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Friday. ValuEngine upgraded National-Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Jefferies Group set a $35.00 target price on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Thursday, January 4th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $36.00 target price on shares of National-Oilwell Varco in a research report on Tuesday, September 26th.

A number of hedge funds have recently made changes to their positions in NOV. Chevy Chase Trust Holdings Inc. increased its stake in shares of National-Oilwell Varco by 1.2% during the third 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 buying an additional 5,641 shares during the period. California Public Employees Retirement System increased its stake in shares of National-Oilwell Varco by 4.7% during the third quarter. California Public Employees Retirement System now owns 1,211,321 shares of the oil and gas exploration company’s stock valued at $43,280,000 after buying an additional 54,039 shares during the period. Swiss National Bank increased its stake in shares of National-Oilwell Varco by 1.4% during the third 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 buying an additional 19,100 shares during the period. Glenview Trust Co increased its stake in shares of National-Oilwell Varco by 4.0% during the second quarter. Glenview Trust Co now owns 245,030 shares of the oil and gas exploration company’s stock valued at $8,071,000 after buying an additional 9,382 shares during the period. Finally, Shell Asset Management Co. increased its stake in shares of National-Oilwell Varco by 163.9% during the third quarter. Shell Asset Management Co. now owns 64,296 shares of the oil and gas exploration company’s stock valued at $4,893,000 after buying an additional 39,934 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Shares of National-Oilwell Varco (NYSE:NOV) traded up $0.30 on Tuesday, hitting $39.14. The stock had a trading volume of 2,531,000 shares, compared to its average volume of 2,603,311. The company has a market cap of $14,870.00, a P/E ratio of -15.78, a PEG ratio of 21.18 and a beta of 0.95. The company has a current ratio of 2.75, a quick ratio of 1.62 and a debt-to-equity ratio of 0.19. 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 issued its quarterly earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.01. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. National-Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.34) EPS. equities research analysts expect that National-Oilwell Varco will post -0.41 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 8th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $0.20 annualized dividend and a yield of 0.51%. National-Oilwell Varco’s payout ratio is currently -8.06%.

COPYRIGHT VIOLATION NOTICE: “National-Oilwell Varco, Inc. (NOV) Receives Average Recommendation of “Hold” from Brokerages” was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this article on another publication, it was copied illegally and republished in violation of U.S. and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2018/01/16/national-oilwell-varco-inc-nov-receives-average-recommendation-of-hold-from-brokerages.html.

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.

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

Receive News & Ratings for National-Oilwell Varco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National-Oilwell Varco and related companies with MarketBeat.com's FREE daily email newsletter.