National-Oilwell Varco (NYSE:NOV) received a $42.00 price target from stock analysts at B. Riley in a research note issued to investors on Friday. The firm presently has a “buy” rating on the oil and gas exploration company’s stock. B. Riley’s target price would suggest a potential upside of 10.79% from the company’s previous close.
A number of other research firms have also recently commented on NOV. Cowen set a $33.00 target price on National-Oilwell Varco and gave the company a “hold” rating in a research note on Thursday, January 11th. Susquehanna Bancshares set a $35.00 target price on National-Oilwell Varco and gave the company a “hold” rating in a research note on Friday, January 12th. ValuEngine raised National-Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Jefferies Group set a $35.00 target price on National-Oilwell Varco and gave the company a “hold” rating in a research note on Thursday, January 4th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $36.00 target price on shares of National-Oilwell Varco in a research note on Tuesday, September 26th. Four analysts have rated the stock with a sell rating, twenty have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. National-Oilwell Varco currently has a consensus rating of “Hold” and an average price target of $38.20.
Shares of National-Oilwell Varco (NOV) traded down $1.01 during mid-day trading on Friday, reaching $37.91. The company’s stock had a trading volume of 3,025,100 shares, compared to its average volume of 2,663,517. National-Oilwell Varco has a fifty-two week low of $29.90 and a fifty-two 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. The stock has a market capitalization of $14,410.00, a P/E ratio of -15.29, a PEG ratio of 19.50 and a beta of 0.95.
National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the business posted ($0.34) earnings per share. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. equities research analysts expect that National-Oilwell Varco will post -0.4 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in NOV. Hotchkis & Wiley Capital Management LLC bought a new position in National-Oilwell Varco in the third quarter worth approximately $226,421,000. Harris Associates L P lifted its holdings in National-Oilwell Varco by 16.0% during the second quarter. Harris Associates L P now owns 18,574,753 shares of the oil and gas exploration company’s stock worth $611,852,000 after buying an additional 2,557,484 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in National-Oilwell Varco by 459.0% during the second quarter. The Manufacturers Life Insurance Company now owns 2,639,603 shares of the oil and gas exploration company’s stock worth $86,948,000 after buying an additional 2,167,397 shares during the period. Vanguard Group Inc. lifted its holdings in National-Oilwell Varco by 2.5% during the second quarter. Vanguard Group Inc. now owns 38,794,232 shares of the oil and gas exploration company’s stock worth $1,277,882,000 after buying an additional 930,849 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in National-Oilwell Varco by 17.1% during the third quarter. Wells Fargo & Company MN now owns 5,248,794 shares of the oil and gas exploration company’s stock worth $187,541,000 after buying an additional 765,634 shares during the period. 92.44% of the stock is currently owned by 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.