Royal Bank of Canada Analysts Give National-Oilwell Varco (NOV) a $37.00 Price Target

Royal Bank of Canada set a $37.00 target price on National-Oilwell Varco (NYSE:NOV) in a research report report published on Thursday morning. The firm currently has a hold rating on the oil and gas exploration company’s stock.

Several other research firms have also weighed in on NOV. Jefferies Group set a $34.00 price target on National-Oilwell Varco and gave the stock a hold rating in a research report on Thursday, October 5th. Piper Jaffray Companies reissued a buy rating and set a $36.00 target price on shares of National-Oilwell Varco in a report on Tuesday, September 26th. Deutsche Bank began coverage on National-Oilwell Varco in a report on Tuesday, October 10th. They set a hold rating and a $39.00 target price on the stock. Citigroup boosted their target price on National-Oilwell Varco from $34.00 to $36.00 and gave the stock a neutral rating in a report on Thursday, October 5th. Finally, ValuEngine raised National-Oilwell Varco from a sell rating to a hold rating in a report on Wednesday, September 20th. Five analysts have rated the stock with a sell rating, eighteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Hold and an average target price of $38.00.

National-Oilwell Varco (NYSE:NOV) opened at $35.44 on Thursday. The firm has a market capitalization of $13,510.14, a P/E ratio of -14.23 and a beta of 0.95. National-Oilwell Varco has a 1 year low of $29.90 and a 1 year 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.

National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates 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 business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.34) EPS. sell-side analysts forecast that National-Oilwell Varco will post -0.41 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 22nd. Stockholders of record on Friday, December 8th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.56%. National-Oilwell Varco’s payout ratio is -8.03%.

Several large investors have recently added to or reduced their stakes in NOV. Vanguard Group Inc. increased its holdings in National-Oilwell Varco by 2.5% in the 2nd 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 purchasing an additional 930,849 shares in the last quarter. First Eagle Investment Management LLC increased its holdings 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 worth $967,161,000 after purchasing an additional 563,589 shares in the last quarter. BlackRock Inc. increased its holdings in National-Oilwell Varco by 1.4% in the 2nd quarter. BlackRock Inc. now owns 25,195,874 shares of the oil and gas exploration company’s stock worth $829,954,000 after purchasing an additional 354,574 shares in the last quarter. Harris Associates L P increased its holdings in National-Oilwell Varco by 16.0% in the 2nd 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 purchasing an additional 2,557,484 shares in the last quarter. Finally, FMR LLC increased its holdings in National-Oilwell Varco by 6.4% in the 2nd quarter. FMR LLC now owns 9,635,851 shares of the oil and gas exploration company’s stock worth $317,405,000 after purchasing an additional 581,712 shares in the last quarter. Hedge funds and other institutional investors own 92.47% 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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