Cowen reaffirmed their market perform rating on shares of National-Oilwell Varco (NYSE:NOV) in a report released on Wednesday, Briefing.com Automated Import reports. The firm currently has a $27.00 target price on the oil and gas exploration company’s stock, up from their previous target price of $25.00.
Other equities analysts also recently issued research reports about the company. Citigroup set a $31.00 price objective on National-Oilwell Varco and gave the stock a hold rating in a report on Thursday, June 6th. SunTrust Banks dropped their price objective on National-Oilwell Varco to $24.00 and set a hold rating on the stock in a report on Tuesday, April 16th. ValuEngine downgraded National-Oilwell Varco from a hold rating to a sell rating in a report on Thursday, May 23rd. Barclays dropped their price objective on National-Oilwell Varco from $32.00 to $28.00 and set an equal weight rating on the stock in a report on Monday, April 15th. Finally, Susquehanna Bancshares set a $23.00 target price on National-Oilwell Varco and gave the stock a hold rating in a research report on Friday, July 19th. Five investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $35.08.
NYSE:NOV opened at $22.09 on Wednesday. The stock has a 50 day moving average price of $21.56. National-Oilwell Varco has a 52 week low of $19.57 and a 52 week high of $47.48. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.81 and a current ratio of 3.05.
National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Monday, July 29th. The oil and gas exploration company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. National-Oilwell Varco had a negative return on equity of 0.64% and a negative net margin of 63.23%. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.08 billion. On average, sell-side analysts anticipate that National-Oilwell Varco will post -0.06 EPS for the current year.
A number of institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale boosted its position in shares of National-Oilwell Varco by 17.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 41,610 shares of the oil and gas exploration company’s stock valued at $2,029,000 after acquiring an additional 6,265 shares during the period. Reinhart Partners Inc. boosted its position in shares of National-Oilwell Varco by 9.1% in the first quarter. Reinhart Partners Inc. now owns 314,332 shares of the oil and gas exploration company’s stock valued at $8,374,000 after acquiring an additional 26,311 shares during the period. State of Alaska Department of Revenue boosted its position in shares of National-Oilwell Varco by 5.9% in the first quarter. State of Alaska Department of Revenue now owns 146,804 shares of the oil and gas exploration company’s stock valued at $3,909,000 after acquiring an additional 8,203 shares during the period. Viking Fund Management LLC bought a new stake in shares of National-Oilwell Varco in the first quarter valued at approximately $2,930,000. Finally, Fulton Bank N.A. boosted its position in shares of National-Oilwell Varco by 18.4% in the first quarter. Fulton Bank N.A. now owns 17,095 shares of the oil and gas exploration company’s stock valued at $456,000 after acquiring an additional 2,653 shares during the period. 92.89% of the stock is owned by hedge funds and other institutional investors.
About National-Oilwell Varco
National Oilwell Varco, Inc designs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. It operates in three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. The Wellbore Technologies segment offers various equipment and technologies used to perform drilling operations.
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