National-Oilwell Varco (NOV) PT Set at $38.00 by BMO Capital Markets

National-Oilwell Varco (NYSE:NOV) has been assigned a $38.00 price target by equities researchers at BMO Capital Markets in a research note issued on Monday. The brokerage currently has a “sell” rating on the oil and gas exploration company’s stock. BMO Capital Markets’ price target indicates a potential upside of 3.06% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Tudor Pickering raised National-Oilwell Varco from a “hold” rating to a “buy” rating in a research note on Monday. ValuEngine raised National-Oilwell Varco from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. UBS Group set a $40.00 target price on National-Oilwell Varco and gave the company a “hold” rating in a research note on Tuesday, October 30th. Argus set a $46.00 target price on National-Oilwell Varco and gave the company a “buy” rating in a research note on Monday, October 29th. Finally, Susquehanna Bancshares set a $40.00 target price on National-Oilwell Varco and gave the company a “hold” rating in a research note on Monday, October 29th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $43.27.

National-Oilwell Varco stock opened at $36.87 on Monday. The stock has a market capitalization of $13.84 billion, a P/E ratio of -87.79 and a beta of 1.03. National-Oilwell Varco has a 12-month low of $31.47 and a 12-month high of $49.08. The company has a current ratio of 3.17, a quick ratio of 1.78 and a debt-to-equity ratio of 0.19.

In other news, Director Eric L. Mattson sold 11,112 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $45.34, for a total transaction of $503,818.08. Following the sale, the director now owns 66,862 shares of the company’s stock, valued at $3,031,523.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Eric L. Mattson sold 5,284 shares of the firm’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $45.06, for a total value of $238,097.04. Following the sale, the director now directly owns 66,862 shares in the company, valued at approximately $3,012,801.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,734 shares of company stock worth $939,945. 0.79% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOV. Quad Cities Investment Group LLC acquired a new stake in shares of National-Oilwell Varco during the second quarter worth about $104,000. Cerebellum GP LLC bought a new position in shares of National-Oilwell Varco during the third quarter worth about $163,000. First Hawaiian Bank bought a new position in shares of National-Oilwell Varco during the third quarter worth about $174,000. Piedmont Investment Advisors LLC bought a new position in shares of National-Oilwell Varco during the second quarter worth about $194,000. Finally, Assetmark Inc. grew its holdings in shares of National-Oilwell Varco by 225.5% during the second quarter. Assetmark Inc. now owns 4,551 shares of the oil and gas exploration company’s stock worth $198,000 after buying an additional 3,153 shares in the last quarter. 95.24% of the stock is currently owned by 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.

Further Reading: Return on Equity (ROE)

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

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