National-Oilwell Varco (NOV) Stock Rating Reaffirmed by Seaport Global Securities

National-Oilwell Varco (NYSE:NOV)‘s stock had its “sell” rating reiterated by equities researchers at Seaport Global Securities in a research note issued on Monday. They currently have a $30.00 target price on the oil and gas exploration company’s stock. Seaport Global Securities’ price objective suggests a potential downside of 10.45% from the company’s previous close.

NOV has been the subject of a number of other reports. Cowen set a $33.00 target price on National-Oilwell Varco and gave the company a “hold” rating in a research report on Thursday, January 11th. TheStreet raised National-Oilwell Varco from a “d+” rating to a “c” rating in a research note on Tuesday, February 6th. Scotiabank set a $37.00 price objective on National-Oilwell Varco and gave the company a “hold” rating in a research note on Friday, October 27th. Jefferies Group set a $35.00 price objective on National-Oilwell Varco and gave the company a “hold” rating in a research note on Thursday, January 4th. Finally, ValuEngine downgraded National-Oilwell Varco from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Five analysts have rated the stock with a sell rating, seventeen 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 has a consensus rating of “Hold” and an average target price of $38.13.

Shares of National-Oilwell Varco (NYSE NOV) traded up $0.42 during midday trading on Monday, hitting $33.50. The company had a trading volume of 1,840,000 shares, compared to its average volume of 3,260,000. The firm has a market cap of $12,730.00, a PE ratio of -53.17, a PEG ratio of 21.05 and a beta of 0.89. The company has a current ratio of 3.07, a quick ratio of 1.79 and a debt-to-equity ratio of 0.19. National-Oilwell Varco has a 1 year low of $29.90 and a 1 year high of $41.90.

National-Oilwell Varco (NYSE:NOV) last announced its earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). The firm had revenue of $1.97 billion during the quarter. National-Oilwell Varco had a negative return on equity of 1.10% and a negative net margin of 3.24%. During the same period last year, the company earned ($0.15) earnings per share. research analysts forecast that National-Oilwell Varco will post 0.26 EPS for the current year.

A number of large investors have recently made changes to their positions in NOV. Dupont Capital Management Corp acquired a new stake in National-Oilwell Varco in the 4th quarter worth about $141,000. Global Trust Asset Management LLC bought a new stake in shares of National-Oilwell Varco in the 4th quarter valued at $160,000. Tiedemann Wealth Management LLC boosted its stake in shares of National-Oilwell Varco by 77.8% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 11,668 shares of the oil and gas exploration company’s stock valued at $194,000 after purchasing an additional 5,107 shares during the last quarter. IBM Retirement Fund bought a new stake in shares of National-Oilwell Varco in the 3rd quarter valued at $200,000. Finally, Cadence Bank NA bought a new stake in shares of National-Oilwell Varco in the 4th quarter valued at $201,000. Hedge funds and other institutional investors own 91.70% 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.

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

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