Cowen and Company Analysts Give National Oilwell Varco, Inc. (NOV) a $30.00 Price Target

Cowen and Company set a $30.00 price target on National Oilwell Varco, Inc. (NYSE:NOV) in a report published on Friday, October 6th. The brokerage currently has a hold rating on the oil and gas exploration company’s stock.

A number of other research analysts have also issued reports on the stock. Jefferies Group LLC set a $34.00 price target on shares of National Oilwell Varco and gave the stock a hold rating in a research note on Thursday, October 5th. Citigroup Inc. boosted their price target on shares of National Oilwell Varco from $34.00 to $36.00 and gave the stock a neutral rating in a research note on Thursday, October 5th. Piper Jaffray Companies reiterated a buy rating and set a $36.00 price target on shares of National Oilwell Varco in a research note on Tuesday, September 26th. ValuEngine upgraded shares of National Oilwell Varco from a sell rating to a hold rating in a research note on Wednesday, September 20th. Finally, Royal Bank Of Canada restated a hold rating on shares of National Oilwell Varco in a research report on Friday, September 1st. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. National Oilwell Varco has a consensus rating of Hold and a consensus target price of $38.61.

National Oilwell Varco (NYSE:NOV) traded up 0.09% during midday trading on Friday, hitting $34.95. The stock had a trading volume of 368,676 shares. National Oilwell Varco has a 12 month low of $29.90 and a 12 month high of $43.63. The stock’s market cap is $13.28 billion. The stock has a 50 day moving average of $33.94 and a 200 day moving average of $33.79.

National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.14). National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the business posted ($0.30) earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year. Analysts expect that National Oilwell Varco will post ($0.41) EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Thursday, September 14th. National Oilwell Varco’s dividend payout ratio is currently -3.31%.

A number of large investors have recently bought and sold shares of NOV. UBS Asset Management Americas Inc. raised its stake in National Oilwell Varco by 14.9% during the first quarter. UBS Asset Management Americas Inc. now owns 1,621,622 shares of the oil and gas exploration company’s stock worth $65,011,000 after purchasing an additional 210,281 shares during the period. Oxford Asset Management purchased a new position in National Oilwell Varco during the first quarter worth approximately $780,000. Pacer Advisors Inc. raised its stake in National Oilwell Varco by 3.4% during the first quarter. Pacer Advisors Inc. now owns 7,377 shares of the oil and gas exploration company’s stock worth $296,000 after purchasing an additional 240 shares during the period. JPMorgan Chase & Co. raised its stake in National Oilwell Varco by 54.5% during the first quarter. JPMorgan Chase & Co. now owns 334,550 shares of the oil and gas exploration company’s stock worth $13,413,000 after purchasing an additional 118,002 shares during the period. Finally, KBC Group NV raised its stake in National Oilwell Varco by 10.1% during the first quarter. KBC Group NV now owns 31,954 shares of the oil and gas exploration company’s stock worth $1,281,000 after purchasing an additional 2,923 shares during the period. 90.31% of the stock is currently owned by institutional investors.

About National Oilwell Varco

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)

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