BMO Capital Markets Reaffirms Sell Rating for National Oilwell Varco, Inc. (NOV)

National Oilwell Varco, Inc. (NYSE:NOV)‘s stock had its “sell” rating reiterated by stock analysts at BMO Capital Markets in a report issued on Thursday, June 22nd. They presently have a $30.00 price target on the oil and gas exploration company’s stock. BMO Capital Markets’ price target would indicate a potential downside of 11.45% from the stock’s current price.

NOV has been the topic of several other reports. Vetr raised National Oilwell Varco from a “buy” rating to a “strong-buy” rating and set a $45.50 price target on the stock in a research report on Monday, April 3rd. Tudor Pickering began coverage on National Oilwell Varco in a research report on Thursday, March 23rd. They issued a “hold” rating on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $50.00 price target (down from $60.00) on shares of National Oilwell Varco in a research report on Wednesday, June 21st. Zacks Investment Research downgraded National Oilwell Varco from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Finally, R. F. Lafferty began coverage on National Oilwell Varco in a research report on Thursday, April 6th. They issued a “hold” rating and a $39.00 price target on the stock. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $39.35.

Shares of National Oilwell Varco (NYSE NOV) opened at 33.88 on Thursday. The stock has a 50 day moving average price of $33.20 and a 200 day moving average price of $36.96. The stock’s market cap is $12.88 billion. National Oilwell Varco has a 12 month low of $29.79 and a 12 month high of $43.63.

National Oilwell Varco (NYSE:NOV) last posted its earnings results on Wednesday, April 26th. The oil and gas exploration company reported ($0.17) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.03. National Oilwell Varco had a negative return on equity of 2.44% and a negative net margin of 35.50%. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the company earned ($0.06) earnings per share. The business’s revenue was down 20.5% compared to the same quarter last year. Equities analysts anticipate that National Oilwell Varco will post ($0.40) EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. FNY Partners Fund LP bought a new position in National Oilwell Varco during the first quarter valued at $120,000. Quadrant Capital Group LLC boosted its position in National Oilwell Varco by 6.8% in the first quarter. Quadrant Capital Group LLC now owns 3,214 shares of the oil and gas exploration company’s stock valued at $122,000 after buying an additional 205 shares during the period. Exane Derivatives boosted its position in National Oilwell Varco by 113.8% in the second 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. WMS Partners LLC bought a new position in National Oilwell Varco during the first quarter valued at $200,000. Finally, IFM Investors Pty Ltd bought a new position in National Oilwell Varco during the fourth quarter valued at $202,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

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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