National-Oilwell Varco (NYSE:NOV) had its target price reduced by equities researchers at Barclays from $32.00 to $28.00 in a note issued to investors on Monday, BenzingaRatingsTable reports. The brokerage currently has an “equal weight” rating on the oil and gas exploration company’s stock. Barclays‘s price objective indicates a potential downside of 0.60% from the stock’s current price.

NOV has been the subject of a number of other reports. SunTrust Banks reduced their price objective on shares of National-Oilwell Varco to $29.00 and set a “hold” rating for the company in a research note on Monday, February 11th. Gabelli reissued a “buy” rating on shares of National-Oilwell Varco in a research note on Monday, February 11th. Seaport Global Securities reissued a “sell” rating and issued a $24.00 price objective on shares of National-Oilwell Varco in a research note on Monday, February 11th. Cowen reissued a “market perform” rating and issued a $29.00 price objective (down from $32.00) on shares of National-Oilwell Varco in a research note on Monday, February 11th. Finally, Citigroup reduced their price objective on shares of National-Oilwell Varco from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 4th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have assigned a buy rating to the stock. National-Oilwell Varco presently has an average rating of “Hold” and a consensus price target of $38.21.

NOV stock traded up $1.30 during midday trading on Monday, reaching $28.17. 263,659 shares of the company’s stock traded hands, compared to its average volume of 3,510,999. National-Oilwell Varco has a 52-week low of $24.27 and a 52-week high of $49.08. The stock has a market cap of $11.25 billion, a P/E ratio of -351.50, a P/E/G ratio of 25.81 and a beta of 1.22. The company has a current ratio of 3.11, a quick ratio of 1.83 and a debt-to-equity ratio of 0.19.

National-Oilwell Varco (NYSE:NOV) last announced its earnings results on Wednesday, February 6th. The oil and gas exploration company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.05). The business 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 firm’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.04) earnings per share. As a group, equities analysts forecast that National-Oilwell Varco will post 0.19 earnings per share for the current year.

In related news, VP Scott K. Duff sold 15,125 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 54,098 shares in the company, valued at $1,515,825.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.79% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the stock. Truvestments Capital LLC bought a new position in National-Oilwell Varco during the first quarter valued at $26,000. JOYN Advisors Inc. lifted its position in National-Oilwell Varco by 166.2% during 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 during the last quarter. Enlightenment Research LLC bought a new position in National-Oilwell Varco during the fourth quarter valued at $28,000. Moody National Bank Trust Division lifted its position in National-Oilwell Varco by 125.0% during the first quarter. Moody National Bank Trust Division now owns 1,233 shares of the oil and gas exploration company’s stock valued at $33,000 after purchasing an additional 685 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in National-Oilwell Varco by 2,438.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,065,034 shares of the oil and gas exploration company’s stock valued at $41,000 after purchasing an additional 1,023,079 shares during the last quarter. Hedge funds and other institutional investors own 93.47% of the company’s stock.

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.

See Also: Real Estate Investment Trust (REIT) ETF

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

Receive News & Ratings for National-Oilwell Varco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National-Oilwell Varco and related companies with MarketBeat.com's FREE daily email newsletter.