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.
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.
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