Cowen Analysts Give National-Oilwell Varco (NOV) a $33.00 Price Target

National-Oilwell Varco (NYSE:NOV) received a $33.00 price target from analysts at Cowen in a note issued to investors on Thursday. The brokerage presently has a “hold” rating on the oil and gas exploration company’s stock. Cowen’s price objective indicates a potential downside of 15.04% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. B. Riley reaffirmed a “buy” rating on shares of National-Oilwell Varco in a report on Wednesday, November 1st. ValuEngine raised shares of National-Oilwell Varco from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Barclays cut their price objective on shares of National-Oilwell Varco from $38.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, October 30th. SunTrust Banks raised shares of National-Oilwell Varco from a “sell” rating to a “hold” rating in a report on Wednesday, November 29th. Finally, Zacks Investment Research downgraded shares of National-Oilwell Varco from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $38.17.

Shares of National-Oilwell Varco (NYSE NOV) opened at $38.84 on Thursday. National-Oilwell Varco has a 52-week low of $29.90 and a 52-week high of $41.90. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.75 and a quick ratio of 1.62. The stock has a market cap of $14,760.00, a price-to-earnings ratio of -15.66, a P/E/G ratio of 20.24 and a beta of 0.95.

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 (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01. National-Oilwell Varco had a negative net margin of 1.47% and a negative return on equity of 0.74%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the firm posted ($0.34) EPS. National-Oilwell Varco’s revenue was up 11.5% compared to the same quarter last year. equities analysts forecast that National-Oilwell Varco will post -0.41 earnings per share for the current year.

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of 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 buying an additional 930,849 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of 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 buying an additional 563,589 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of 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 buying an additional 354,574 shares during the last quarter. Harris Associates L P boosted its holdings in shares of 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 buying an additional 2,557,484 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of 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 buying an additional 581,712 shares during the last quarter. 92.44% of the stock is currently 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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