Piper Jaffray Companies set a $37.00 price objective on National Oilwell Varco, Inc. (NYSE:NOV) in a research note released on Thursday. The brokerage currently has a buy rating on the oil and gas exploration company’s stock.

Several other research firms also recently commented on NOV. Vetr downgraded National Oilwell Varco from a strong-buy rating to a buy rating and set a $44.47 price objective on the stock. in a research note on Wednesday, March 29th. Jefferies Group LLC reiterated a hold rating and issued a $36.00 price objective on shares of National Oilwell Varco in a research note on Tuesday, April 11th. R. F. Lafferty began coverage on National Oilwell Varco in a research note on Thursday, April 6th. They issued a hold rating and a $39.00 price objective on the stock. BMO Capital Markets set a $30.00 price objective on National Oilwell Varco and gave the company a sell rating in a research note on Wednesday, April 12th. Finally, Zacks Investment Research downgraded National Oilwell Varco from a hold rating to a sell rating in a research note on Tuesday, April 18th. Four equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. National Oilwell Varco presently has an average rating of Hold and an average target price of $39.10.

Shares of National Oilwell Varco (NYSE:NOV) opened at 33.11 on Thursday. The company’s 50-day moving average price is $33.13 and its 200 day moving average price is $36.20. The firm’s market capitalization is $12.48 billion. National Oilwell Varco has a 12-month low of $31.00 and a 12-month high of $43.63.

National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas exploration company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). National Oilwell Varco had a negative return on equity of 2.12% and a negative net margin of 33.24%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the business earned ($0.30) earnings per share. National Oilwell Varco’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities analysts forecast that National Oilwell Varco will post ($0.40) earnings per share for the current year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Moody Lynn & Lieberson LLC boosted its position in National Oilwell Varco by 0.4% in the first quarter. Moody Lynn & Lieberson LLC now owns 6,684 shares of the oil and gas exploration company’s stock worth $268,000 after buying an additional 29 shares in the last quarter. Cleararc Capital Inc. boosted its position in National Oilwell Varco by 0.7% in the first quarter. Cleararc Capital Inc. now owns 9,243 shares of the oil and gas exploration company’s stock worth $371,000 after buying an additional 65 shares in the last quarter. First Manhattan Co. boosted its position in National Oilwell Varco by 0.3% in the first quarter. First Manhattan Co. now owns 32,934 shares of the oil and gas exploration company’s stock worth $1,210,000 after buying an additional 98 shares in the last quarter. CIBC Asset Management Inc boosted its position in National Oilwell Varco by 0.3% in the second quarter. CIBC Asset Management Inc now owns 36,365 shares of the oil and gas exploration company’s stock worth $1,198,000 after buying an additional 113 shares in the last quarter. Finally, Sandy Spring Bank boosted its position in National Oilwell Varco by 0.4% in the first quarter. Sandy Spring Bank now owns 32,934 shares of the oil and gas exploration company’s stock worth $1,320,000 after buying an additional 115 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors and hedge funds.

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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