National Oilwell Varco, Inc. (NYSE:NOV) had its price target cut by R. F. Lafferty from $33.00 to $31.00 in a research report report published on Monday, MarketBeat reports. They currently have a hold rating on the oil and gas exploration company’s stock.
Several other equities research analysts have also weighed in on NOV. J P Morgan Chase & Co dropped their price target on National Oilwell Varco from $30.00 to $27.00 and set a neutral rating on the stock in a research report on Monday, October 30th. Wolfe Research downgraded National Oilwell Varco from a market perform rating to an underperform rating in a report on Tuesday, October 31st. Seaport Global Securities reissued a sell rating on shares of National Oilwell Varco in a report on Friday, July 28th. Zacks Investment Research raised National Oilwell Varco from a sell rating to a hold rating in a report on Tuesday, August 1st. Finally, SunTrust Banks, Inc. downgraded National Oilwell Varco from a hold rating to a sell rating and boosted their target price for the stock from $29.00 to $50.00 in a report on Monday, August 7th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. National Oilwell Varco presently has a consensus rating of Hold and a consensus target price of $37.83.
National Oilwell Varco (NOV) traded down $1.03 during midday trading on Monday, hitting $33.52. The company had a trading volume of 4,150,988 shares, compared to its average volume of 3,110,000. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.62 and a current ratio of 2.75. National Oilwell Varco has a one year low of $29.90 and a one year high of $43.63.
National Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. National Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the company posted ($0.34) earnings per share. The firm’s revenue was up 11.5% on a year-over-year basis. research analysts predict that National Oilwell Varco will post -0.41 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of NOV. IHT Wealth Management LLC lifted its holdings in shares of National Oilwell Varco by 1,923.1% in the 2nd quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock valued at $112,000 after buying an additional 500 shares during the period. Exane Derivatives lifted its holdings in shares of National Oilwell Varco by 113.8% in the 2nd quarter. Exane Derivatives now owns 3,985 shares of the oil and gas exploration company’s stock valued at $131,000 after buying an additional 2,121 shares during the period. Chicago Partners Investment Group LLC acquired a new position in shares of National Oilwell Varco in the 2nd quarter valued at about $194,000. IBM Retirement Fund acquired a new position in shares of National Oilwell Varco in the 3rd quarter valued at about $200,000. Finally, Wrapmanager Inc. purchased a new position in shares of National Oilwell Varco in the 3rd quarter valued at about $202,000. 90.30% of the stock is owned by institutional investors and hedge funds.
National Oilwell Varco Company Profile
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.
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