B. Riley Analysts Give National-Oilwell Varco (NOV) a $42.00 Price Target

National-Oilwell Varco (NYSE:NOV) has been assigned a $42.00 price target by research analysts at B. Riley in a research note issued to investors on Friday. The brokerage currently has a “buy” rating on the oil and gas exploration company’s stock. B. Riley’s target price would indicate a potential upside of 10.58% from the stock’s current price.

NOV has been the topic of a number of other reports. Cowen set a $33.00 price objective on National-Oilwell Varco and gave the company a “hold” rating in a report on Thursday, January 11th. Scotiabank set a $37.00 price objective on National-Oilwell Varco and gave the company a “hold” rating in a report 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 report on Thursday, January 4th. Capital One Financial reissued an “equal weight” rating on shares of National-Oilwell Varco in a report on Friday, October 27th. Finally, R. F. Lafferty decreased their price objective on National-Oilwell Varco from $33.00 to $31.00 and set a “hold” rating on the stock in a report on Monday, November 6th. Four analysts have rated the stock with a sell rating, twenty have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $38.08.

Shares of National-Oilwell Varco (NYSE:NOV) opened at $37.98 on Friday. National-Oilwell Varco has a 1-year low of $29.90 and a 1-year high of $41.90. The firm has a market capitalization of $14,430.00, a PE ratio of -15.31, a price-to-earnings-growth ratio of 18.73 and a beta of 0.95. The company has a quick ratio of 1.62, a current ratio of 2.75 and a debt-to-equity ratio of 0.19.

National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.01. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.86 billion. National-Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. National-Oilwell Varco’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.34) EPS. equities research analysts forecast that National-Oilwell Varco will post -0.4 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of NOV. Vanguard Group Inc. grew its position 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 grew its position 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. Harris Associates L P grew its position 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. FMR LLC grew its position 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. Finally, Hotchkis & Wiley Capital Management LLC bought a new stake in shares of National-Oilwell Varco in the 3rd quarter worth approximately $226,421,000. Institutional investors and hedge funds own 92.44% 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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