National-Oilwell Varco (NOV) PT Set at $37.00 by Barclays

National-Oilwell Varco (NYSE:NOV) has been assigned a $37.00 target price by analysts at Barclays in a research note issued to investors on Thursday, MarketBeat reports. The brokerage currently has an “equal weight” rating on the oil and gas exploration company’s stock. Barclays’ price objective would suggest a potential upside of 13.36% from the company’s current price.

NOV has been the topic of several other research reports. Cowen set a $33.00 price target on National-Oilwell Varco and gave the stock a “hold” rating in a report on Thursday, January 11th. TheStreet upgraded National-Oilwell Varco from a “d+” rating to a “c” rating in a report on Tuesday. Scotiabank set a $37.00 price target on National-Oilwell Varco and gave the stock a “hold” rating in a report on Friday, October 27th. Jefferies Group set a $35.00 price target on National-Oilwell Varco and gave the stock a “hold” rating in a report on Thursday, January 4th. Finally, ValuEngine lowered National-Oilwell Varco from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Five analysts have rated the stock with a sell rating, eighteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $38.39.

National-Oilwell Varco (NYSE NOV) traded down $1.41 during midday trading on Thursday, hitting $32.64. The stock had a trading volume of 5,018,371 shares, compared to its average volume of 3,080,000. 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 3.07. The stock has a market cap of $12,400.00, a price-to-earnings ratio of -51.81, a PEG ratio of 17.28 and a beta of 0.89.

National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). National-Oilwell Varco had a negative return on equity of 1.10% and a negative net margin of 3.24%. The business had revenue of $1.97 billion for the quarter. During the same quarter in the prior year, the firm earned ($0.15) EPS. equities research analysts expect that National-Oilwell Varco will post 0.34 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC grew its position in National-Oilwell Varco by 2.1% in the 3rd quarter. First Eagle Investment Management LLC now owns 27,068,594 shares of the oil and gas exploration company’s stock valued at $967,161,000 after acquiring an additional 563,589 shares in the last quarter. Parnassus Investments CA grew its position in National-Oilwell Varco by 10.1% in the 4th quarter. Parnassus Investments CA now owns 6,929,938 shares of the oil and gas exploration company’s stock valued at $249,616,000 after acquiring an additional 637,925 shares in the last quarter. American Century Companies Inc. grew its position in National-Oilwell Varco by 4.2% in the 4th quarter. American Century Companies Inc. now owns 6,390,274 shares of the oil and gas exploration company’s stock valued at $230,178,000 after acquiring an additional 255,563 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in National-Oilwell Varco in the 3rd quarter valued at about $226,421,000. Finally, Wells Fargo & Company MN grew its position in National-Oilwell Varco by 17.1% in the 3rd quarter. Wells Fargo & Company MN now owns 5,248,794 shares of the oil and gas exploration company’s stock valued at $187,541,000 after acquiring an additional 765,634 shares in the last quarter. 91.83% 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.

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

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