National-Oilwell Varco (NYSE:NOV)‘s stock had its “hold” rating restated by research analysts at Royal Bank of Canada in a note issued to investors on Friday. They presently have a $40.00 price objective on the oil and gas exploration company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 5.32% from the company’s previous close.

A number of other equities analysts have also recently weighed in on NOV. B. Riley restated a “buy” rating on shares of National-Oilwell Varco in a research report on Wednesday, November 1st. Cowen set a $33.00 price objective on shares of National-Oilwell Varco and gave the stock a “hold” rating in a research report on Thursday, January 11th. Susquehanna Bancshares set a $35.00 price objective on shares of National-Oilwell Varco and gave the stock a “hold” rating in a research report on Friday, January 12th. Piper Jaffray Companies restated a “buy” rating and set a $36.00 price objective on shares of National-Oilwell Varco in a research report on Tuesday, September 26th. Finally, Jefferies Group set a $35.00 price objective on shares of National-Oilwell Varco and gave the stock a “hold” rating in a research report on Thursday, January 4th. Four analysts have rated the stock with a sell rating, twenty have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $38.08.

National-Oilwell Varco (NOV) opened at $37.98 on Friday. The company has a current ratio of 2.75, a quick ratio of 1.62 and a debt-to-equity ratio of 0.19. The firm has a market cap of $14,407.02, a price-to-earnings ratio of -15.25, a price-to-earnings-growth ratio of 18.73 and a beta of 0.95. 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 posted its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.01. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. National-Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.34) earnings per share. equities analysts predict that National-Oilwell Varco will post -0.4 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in NOV. Ameriprise Financial Inc. grew its holdings in shares of National-Oilwell Varco by 5.5% in the second quarter. Ameriprise Financial Inc. now owns 254,266 shares of the oil and gas exploration company’s stock valued at $8,371,000 after purchasing an additional 13,241 shares during the period. Nationwide Fund Advisors grew its holdings in shares of National-Oilwell Varco by 23.1% in the second quarter. Nationwide Fund Advisors now owns 358,489 shares of the oil and gas exploration company’s stock valued at $11,809,000 after purchasing an additional 67,269 shares during the period. Amalgamated Bank grew its holdings in shares of National-Oilwell Varco by 61.2% in the second quarter. Amalgamated Bank now owns 42,749 shares of the oil and gas exploration company’s stock valued at $1,408,000 after purchasing an additional 16,228 shares during the period. BT Investment Management Ltd purchased a new stake in shares of National-Oilwell Varco in the second quarter valued at about $289,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of National-Oilwell Varco by 23.4% in the second quarter. PNC Financial Services Group Inc. now owns 181,504 shares of the oil and gas exploration company’s stock valued at $5,977,000 after purchasing an additional 34,381 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “National-Oilwell Varco (NOV) Receives Hold Rating from Royal Bank of Canada” was first posted by Watch List News and is the property of of Watch List News. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this news story can be viewed at https://www.watchlistnews.com/national-oilwell-varco-nov-receives-hold-rating-from-royal-bank-of-canada/1815385.html.

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)

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.