Brokerages Set National-Oilwell Varco, Inc. (NOV) Target Price at $38.83

National-Oilwell Varco, Inc. (NYSE:NOV) has been given a consensus recommendation of “Hold” by the thirty brokerages that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and eleven have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $38.83.

Several research analysts recently issued reports on NOV shares. Goldman Sachs Group started coverage on shares of National-Oilwell Varco in a research report on Sunday, March 10th. They issued a “neutral” rating and a $33.00 price target for the company. Zacks Investment Research raised shares of National-Oilwell Varco from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Gabelli reissued a “buy” rating on shares of National-Oilwell Varco in a research report on Monday, February 11th. Seaport Global Securities reissued a “sell” rating and issued a $24.00 price target on shares of National-Oilwell Varco in a research report on Monday, February 11th. Finally, SunTrust Banks dropped their price target on shares of National-Oilwell Varco to $29.00 and set a “hold” rating for the company in a research report on Monday, February 11th.

NYSE NOV opened at $28.16 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.11 and a quick ratio of 1.83. National-Oilwell Varco has a twelve month low of $24.27 and a twelve month high of $49.08. The stock has a market capitalization of $10.80 billion, a P/E ratio of -352.00, a P/E/G ratio of 25.95 and a beta of 1.23.

National-Oilwell Varco (NYSE:NOV) last released its earnings results on Wednesday, February 6th. The oil and gas exploration company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.05). National-Oilwell Varco had a negative net margin of 0.37% and a negative return on equity of 0.22%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the previous year, the business posted ($0.04) EPS. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, sell-side analysts anticipate that National-Oilwell Varco will post 0.18 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, March 14th. National-Oilwell Varco’s payout ratio is -250.00%.

In other news, VP Scott K. Duff sold 15,125 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $28.02, for a total transaction of $423,802.50. Following the completion of the sale, the vice president now owns 54,098 shares of the company’s stock, valued at $1,515,825.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.79% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of NOV. IMS Capital Management acquired a new stake in shares of National-Oilwell Varco in the third quarter valued at approximately $44,000. JOYN Advisors Inc. increased its holdings in shares of National-Oilwell Varco by 166.2% in the fourth quarter. JOYN Advisors Inc. now owns 1,046 shares of the oil and gas exploration company’s stock valued at $27,000 after purchasing an additional 653 shares in the last quarter. Enlightenment Research LLC acquired a new stake in shares of National-Oilwell Varco in the fourth quarter valued at approximately $28,000. grace capital acquired a new stake in shares of National-Oilwell Varco in the fourth quarter valued at approximately $46,000. Finally, Pearl River Capital LLC acquired a new stake in shares of National-Oilwell Varco in the fourth quarter valued at approximately $82,000. 92.66% of the stock is owned by institutional investors.

National-Oilwell Varco Company Profile

National Oilwell Varco, Inc designs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. It operates in three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. The Wellbore Technologies segment offers various equipment and technologies used to perform drilling operations.

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

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