Scotiabank Analysts Give National Oilwell Varco, Inc. (NOV) a $37.00 Price Target
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.
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