National-Oilwell Varco, Inc. (NOV) Receives $37.24 Consensus Price Target from Brokerages

Shares of National-Oilwell Varco, Inc. (NYSE:NOV) have received a consensus recommendation of “Hold” from the thirty-one brokerages that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation, twenty have issued a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $37.29.

Several brokerages have commented on NOV. Cowen set a $33.00 price objective on shares of National-Oilwell Varco and gave the stock a “hold” rating in a 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 report on Friday, January 12th. Royal Bank of Canada restated a “hold” rating and issued a $40.00 price objective on shares of National-Oilwell Varco in a report on Friday. B. Riley set a $42.00 target price on shares of National-Oilwell Varco and gave the company a “buy” rating in a research note on Friday. Finally, ValuEngine raised shares of National-Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd.

Shares of National-Oilwell Varco (NYSE:NOV) traded up $0.07 on Tuesday, reaching $37.98. 4,587,999 shares of the company’s stock traded hands, compared to its average volume of 2,179,484. The company has a quick ratio of 1.62, a current ratio of 2.75 and a debt-to-equity ratio of 0.19. National-Oilwell Varco has a twelve month low of $29.90 and a twelve month high of $41.90. The stock has a market capitalization of $14,433.62, a price-to-earnings ratio of -15.25, a PEG ratio of 18.77 and a beta of 0.95.

National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. National-Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the business posted ($0.34) earnings per share. National-Oilwell Varco’s quarterly revenue was up 11.5% compared to the same quarter last year. analysts anticipate that National-Oilwell Varco will post -0.4 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Friday, December 8th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Thursday, December 7th. National-Oilwell Varco’s dividend payout ratio (DPR) is currently -8.03%.

Several institutional investors and hedge funds have recently made changes to their positions in NOV. IHT Wealth Management LLC increased its position in shares of National-Oilwell Varco by 1,923.1% during the second quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock valued at $112,000 after acquiring an additional 500 shares in the last quarter. Tiedemann Wealth Management LLC increased its position in shares of National-Oilwell Varco by 77.8% during the third quarter. Tiedemann Wealth Management LLC now owns 11,668 shares of the oil and gas exploration company’s stock valued at $194,000 after acquiring an additional 5,107 shares in the last quarter. IBM Retirement Fund bought a new stake in shares of National-Oilwell Varco during the third quarter valued at approximately $200,000. Wrapmanager Inc. bought a new stake in shares of National-Oilwell Varco during the third quarter valued at approximately $202,000. Finally, Smith Salley & Associates bought a new stake in shares of National-Oilwell Varco during the third quarter valued at approximately $214,000. 92.44% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: This article was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this article can be viewed at https://www.dispatchtribunal.com/2018/02/13/national-oilwell-varco-inc-nov-receives-37-24-consensus-price-target-from-brokerages.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.

Leave a Reply