Scotiabank set a $37.00 target price on National Oilwell Varco, Inc. (NYSE:NOV) in a research report sent to investors on Friday. The firm currently has a hold rating on the oil and gas exploration company’s stock.

Several other research analysts have also recently commented on NOV. Vetr raised National Oilwell Varco from a buy rating to a strong-buy rating and set a $45.50 target price for the company in a research report on Monday, April 3rd. R. F. Lafferty started coverage on National Oilwell Varco in a research report on Thursday, April 6th. They issued a hold rating and a $39.00 target price for the company. Jefferies Group LLC reaffirmed a hold rating and issued a $36.00 target price on shares of National Oilwell Varco in a research report on Tuesday, April 11th. BMO Capital Markets set a $30.00 target price on National Oilwell Varco and gave the stock a sell rating in a research report on Wednesday, April 12th. Finally, Zacks Investment Research cut National Oilwell Varco from a hold rating to a sell rating in a research report on Tuesday, April 18th. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $38.52.

National Oilwell Varco (NYSE NOV) traded down 2.66% during mid-day trading on Friday, reaching $31.84. 1,058,286 shares of the company’s stock traded hands. The stock’s market capitalization is $12.10 billion. National Oilwell Varco has a 12 month low of $31.00 and a 12 month high of $43.63. The firm’s 50-day moving average price is $33.09 and its 200 day moving average price is $36.14.

National Oilwell Varco (NYSE:NOV) last issued its earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.78 billion. National Oilwell Varco had a negative return on equity of 2.12% and a negative net margin of 33.24%. National Oilwell Varco’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the business earned ($0.30) earnings per share. Equities research analysts predict that National Oilwell Varco will post ($0.40) EPS for the current year.

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A number of institutional investors have recently modified their holdings of the company. FNY Partners Fund LP bought a new position in shares of National Oilwell Varco during the first quarter worth about $120,000. Quadrant Capital Group LLC boosted its position in shares of National Oilwell Varco by 6.8% in the first quarter. Quadrant Capital Group LLC now owns 3,214 shares of the oil and gas exploration company’s stock worth $122,000 after buying an additional 205 shares during the period. Exane Derivatives boosted its position in shares of National Oilwell Varco by 113.8% in the second quarter. Exane Derivatives now owns 3,985 shares of the oil and gas exploration company’s stock worth $131,000 after buying an additional 2,121 shares during the period. WMS Partners LLC bought a new position in shares of National Oilwell Varco during the first quarter worth about $200,000. Finally, Tiedemann Wealth Management LLC bought a new position in shares of National Oilwell Varco during the first quarter worth about $203,000. Hedge funds and other institutional investors own 91.13% of the company’s stock.

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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