B. Riley Downgrades National Oilwell Varco (NOV) to Hold

National Oilwell Varco (NYSE:NOV) was downgraded by B. Riley to a “hold” rating in a research note issued on Tuesday. They currently have a $40.00 price objective on the oil and gas exploration company’s stock. B. Riley’s price objective would suggest a potential upside of 5.32% from the company’s current price.

A number of other analysts have also issued reports on the company. Susquehanna Bancshares set a $37.00 price objective on National Oilwell Varco and gave the company a “hold” rating in a research note on Friday. ValuEngine upgraded National Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Friday, March 23rd. Zacks Investment Research upgraded National Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Tuesday, March 13th. Seaport Global Securities reiterated a “sell” rating and set a $30.00 price objective on shares of National Oilwell Varco in a research note on Monday, February 12th. Finally, Barclays set a $37.00 price objective on National Oilwell Varco and gave the company an “equal weight” rating in a research note on Thursday, February 8th. Four research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and four have issued a buy rating to the company’s stock. National Oilwell Varco has a consensus rating of “Hold” and a consensus price target of $36.29.

How to Become a New Pot Stock Millionaire

Shares of NYSE NOV opened at $37.98 on Tuesday. National Oilwell Varco has a one year low of $29.90 and a one year high of $41.38. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.79 and a current ratio of 3.07. The firm has a market cap of $15,555.48, a PE ratio of -90.43, a PEG ratio of 26.57 and a beta of 0.80.

National Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). National Oilwell Varco had a negative return on equity of 1.10% and a negative net margin of 3.24%. The company had revenue of $1.97 billion for the quarter. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. research analysts expect that National Oilwell Varco will post 0.26 EPS for the current fiscal year.

In other National Oilwell Varco news, VP Scott K. Duff sold 7,421 shares of the company’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $35.66, for a total value of $264,632.86. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.79% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV increased its stake in National Oilwell Varco by 233.3% in the 4th quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 100,000 shares of the oil and gas exploration company’s stock worth $1,103,000 after acquiring an additional 70,000 shares during the last quarter. American International Group Inc. increased its position in shares of National Oilwell Varco by 7.3% during the 4th quarter. American International Group Inc. now owns 190,915 shares of the oil and gas exploration company’s stock valued at $6,877,000 after purchasing an additional 12,943 shares during the last quarter. Toronto Dominion Bank increased its position in shares of National Oilwell Varco by 13.2% during the 4th quarter. Toronto Dominion Bank now owns 164,639 shares of the oil and gas exploration company’s stock valued at $5,932,000 after purchasing an additional 19,164 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of National Oilwell Varco by 24.6% during the 3rd quarter. Janus Henderson Group PLC now owns 151,848 shares of the oil and gas exploration company’s stock valued at $5,425,000 after purchasing an additional 29,990 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in shares of National Oilwell Varco by 1.7% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,122,145 shares of the oil and gas exploration company’s stock valued at $40,094,000 after purchasing an additional 18,333 shares during the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “B. Riley Downgrades National Oilwell Varco (NOV) to Hold” was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this report on another website, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this report can be read at https://www.dispatchtribunal.com/2018/04/17/b-riley-downgrades-national-oilwell-varco-nov-to-hold.html.

National Oilwell Varco Company Profile

National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

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