Cowen reissued their market perform rating on shares of National-Oilwell Varco (NYSE:NOV) in a research report released on Monday morning, Marketbeat reports. The brokerage currently has a $29.00 price objective on the oil and gas exploration company’s stock, down from their previous price objective of $32.00.

NOV has been the topic of several other research reports. Raymond James reissued a buy rating and set a $37.00 price objective on shares of National-Oilwell Varco in a research note on Thursday, December 13th. ValuEngine raised shares of National-Oilwell Varco from a hold rating to a buy rating in a research report on Thursday, November 1st. Barclays dropped their price target on shares of National-Oilwell Varco from $44.00 to $40.00 and set a hold rating for the company in a research report on Monday, October 29th. UBS Group set a $40.00 price target on shares of National-Oilwell Varco and gave the stock a hold rating in a research report on Tuesday, October 30th. Finally, Susquehanna Bancshares set a $40.00 price target on shares of National-Oilwell Varco and gave the stock a hold rating in a research report on Monday, October 29th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $39.09.

Shares of NOV opened at $29.51 on Monday. The company has a current ratio of 3.11, a quick ratio of 1.83 and a debt-to-equity ratio of 0.19. The company has a market cap of $11.04 billion, a P/E ratio of -368.88, a PEG ratio of 11.73 and a beta of 1.25. National-Oilwell Varco has a 1 year low of $24.27 and a 1 year high of $49.08.

National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings data on Wednesday, February 6th. The oil and gas exploration company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.05). The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.18 billion. National-Oilwell Varco had a negative net margin of 0.37% and a negative return on equity of 0.22%. The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.04) EPS. On average, equities analysts predict that National-Oilwell Varco will post 0.4 EPS for the current year.

National-Oilwell Varco announced that its board has initiated a stock repurchase program on Tuesday, November 6th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the oil and gas exploration company to reacquire up to 3.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional investors have recently added to or reduced their stakes in the company. JOYN Advisors Inc. increased its position 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 worth $27,000 after acquiring 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 worth $28,000. Oregon Public Employees Retirement Fund increased its position in shares of National-Oilwell Varco by 2,438.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,065,034 shares of the oil and gas exploration company’s stock worth $41,000 after acquiring an additional 1,023,079 shares in the last quarter. IMS Capital Management acquired a new stake in shares of National-Oilwell Varco in the third quarter worth $44,000. Finally, Pearl River Capital LLC acquired a new stake in shares of National-Oilwell Varco in the fourth quarter worth $82,000. 92.16% of the stock is owned by institutional investors.

About National-Oilwell Varco

National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

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

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