National-Oilwell Varco (NOV) Price Target Raised to $36.00

National-Oilwell Varco (NYSE:NOV) had its target price lifted by stock analysts at Cowen from $33.00 to $36.00 in a report issued on Thursday. The firm currently has a “market perform” rating on the oil and gas exploration company’s stock. Cowen’s price objective would suggest a potential upside of 5.73% from the stock’s current price.

Several other research firms have also recently weighed in on NOV. Susquehanna Bancshares set a $35.00 price objective on National-Oilwell Varco and gave the company a “hold” rating in a research report on Friday, January 12th. Royal Bank of Canada reissued a “hold” rating and issued a $40.00 price objective on shares of National-Oilwell Varco in a research report on Friday, January 19th. B. Riley set a $42.00 price objective on National-Oilwell Varco and gave the company a “buy” rating in a research report on Friday, January 19th. ValuEngine raised National-Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, Jefferies Group set a $35.00 price objective on National-Oilwell Varco and gave the company a “hold” rating in a research report on Thursday, January 4th. Five analysts have rated the stock with a sell rating, eighteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $38.35.

Shares of National-Oilwell Varco (NYSE:NOV) opened at $34.05 on Thursday. The stock has a market capitalization of $13,449.34, a P/E ratio of -54.05, a price-to-earnings-growth ratio of 17.28 and a beta of 0.89. The company has a current ratio of 3.07, a quick ratio of 1.62 and a debt-to-equity ratio of 0.19. National-Oilwell Varco has a 12-month low of $29.90 and a 12-month 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, hitting analysts’ consensus estimates of ($0.04). National-Oilwell Varco had a negative return on equity of 1.10% and a negative net margin of 3.24%. The firm had revenue of $1.97 billion during the quarter. During the same period in the previous year, the company earned ($0.15) EPS. equities analysts forecast that National-Oilwell Varco will post 0.34 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. Thrivent Financial For Lutherans lifted its position in National-Oilwell Varco by 3.0% in the second quarter. Thrivent Financial For Lutherans now owns 14,400 shares of the oil and gas exploration company’s stock worth $474,000 after purchasing an additional 420 shares during the period. IHT Wealth Management LLC lifted its position in National-Oilwell Varco by 1,923.1% in the second quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock worth $112,000 after purchasing an additional 500 shares during the period. Mn Services Vermogensbeheer B.V. lifted its position in National-Oilwell Varco by 2.4% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 62,957 shares of the oil and gas exploration company’s stock worth $2,249,000 after purchasing an additional 1,500 shares during the period. Bank of Hawaii lifted its position in National-Oilwell Varco by 4.5% in the third quarter. Bank of Hawaii now owns 36,149 shares of the oil and gas exploration company’s stock worth $1,292,000 after purchasing an additional 1,555 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its stake in National-Oilwell Varco by 14.1% during the third quarter. Oppenheimer Asset Management Inc. now owns 12,580 shares of the oil and gas exploration company’s stock worth $449,000 after acquiring an additional 1,558 shares in the last quarter. 91.83% of the stock is owned by hedge funds and other institutional investors.

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About National-Oilwell Varco

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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