National-Oilwell Varco (NOV) Given a $40.00 Price Target at Susquehanna Bancshares

Susquehanna Bancshares set a $40.00 target price on National-Oilwell Varco (NYSE:NOV) in a research note released on Monday. The firm currently has a hold rating on the oil and gas exploration company’s stock.

A number of other analysts have also weighed in on the company. Seaport Global Securities restated a sell rating and set a $37.00 target price on shares of National-Oilwell Varco in a report on Tuesday, July 31st. Citigroup upped their target price on National-Oilwell Varco from $45.00 to $49.00 and gave the stock a neutral rating in a report on Tuesday, July 31st. Barclays upped their target price on National-Oilwell Varco from $37.00 to $44.00 and gave the stock a hold rating in a report on Monday, July 30th. Jefferies Financial Group restated a hold rating and set a $42.00 target price on shares of National-Oilwell Varco in a report on Monday, July 30th. Finally, Raymond James upped their target price on National-Oilwell Varco from $50.00 to $55.00 and gave the stock a buy rating in a report on Monday, July 30th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. National-Oilwell Varco has an average rating of Hold and a consensus target price of $43.32.

Shares of NYSE NOV traded up $0.08 during trading hours on Monday, reaching $36.59. The stock had a trading volume of 504,138 shares, compared to its average volume of 3,817,755. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.78 and a current ratio of 3.17. The firm has a market capitalization of $14.23 billion, a price-to-earnings ratio of -87.12, a PEG ratio of 1,005.60 and a beta of 0.93. National-Oilwell Varco has a 52-week low of $31.47 and a 52-week high of $49.08.

In related news, Director Eric L. Mattson sold 5,284 shares of the company’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $45.06, for a total value of $238,097.04. Following the transaction, the director now directly owns 66,862 shares of the company’s stock, valued at approximately $3,012,801.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eric L. Mattson sold 4,338 shares of the company’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $45.65, for a total value of $198,029.70. Following the completion of the transaction, the director now directly owns 76,484 shares in the company, valued at $3,491,494.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,734 shares of company stock worth $939,945. Insiders own 0.79% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Summit Trail Advisors LLC boosted its holdings in National-Oilwell Varco by 29.7% in the first quarter. Summit Trail Advisors LLC now owns 19,215 shares of the oil and gas exploration company’s stock valued at $515,000 after purchasing an additional 4,395 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in National-Oilwell Varco by 26.6% in the first quarter. Allianz Asset Management GmbH now owns 647,922 shares of the oil and gas exploration company’s stock valued at $23,850,000 after purchasing an additional 136,046 shares during the last quarter. Gulf International Bank UK Ltd boosted its holdings in National-Oilwell Varco by 4.2% in the second quarter. Gulf International Bank UK Ltd now owns 123,104 shares of the oil and gas exploration company’s stock valued at $5,342,000 after purchasing an additional 5,000 shares during the last quarter. IFM Investors Pty Ltd boosted its holdings in National-Oilwell Varco by 37.9% in the second quarter. IFM Investors Pty Ltd now owns 17,957 shares of the oil and gas exploration company’s stock valued at $779,000 after purchasing an additional 4,934 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in National-Oilwell Varco by 16.9% in the second quarter. State of Alaska Department of Revenue now owns 77,868 shares of the oil and gas exploration company’s stock valued at $3,378,000 after purchasing an additional 11,230 shares during the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for National-Oilwell Varco (NYSE:NOV)

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