National Oilwell Varco (NOV) Rating Lowered to Hold at Societe Generale

National Oilwell Varco (NYSE:NOV) was downgraded by stock analysts at Societe Generale from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, MarketBeat reports. They currently have a $41.00 price objective on the oil and gas exploration company’s stock, up from their prior price objective of $38.32. Societe Generale’s price objective points to a potential upside of 7.19% from the stock’s current price.

Several other analysts also recently issued reports on NOV. Piper Jaffray reissued a “buy” rating and issued a $34.00 price target on shares of National Oilwell Varco in a research report on Thursday, December 21st. Royal Bank of Canada set a $37.00 price target on shares of National Oilwell Varco and gave the company a “hold” rating in a research report on Thursday, December 21st. ValuEngine raised shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Jefferies Group set a $35.00 price target on shares of National Oilwell Varco and gave the company a “hold” rating in a research report on Thursday, January 4th. Finally, Cowen set a $33.00 price target on shares of National Oilwell Varco and gave the company a “hold” rating in a research report on Thursday, January 11th. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $36.59.

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NYSE NOV opened at $38.25 on Thursday. National Oilwell Varco has a 12-month low of $29.90 and a 12-month high of $41.38. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.07 and a quick ratio of 1.79. The firm has a market capitalization of $14,567.11, a P/E ratio of -91.07, a price-to-earnings-growth ratio of 27.29 and a beta of 0.80.

National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). National Oilwell Varco had a negative net margin of 3.24% and a negative return on equity of 1.10%. The business had revenue of $1.97 billion during the quarter. During the same period in the previous year, the business posted ($0.15) EPS. sell-side analysts expect that National Oilwell Varco will post 0.23 earnings per share for the current year.

In other news, VP Scott K. Duff sold 7,421 shares of National Oilwell Varco stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $35.66, for a total transaction of $264,632.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.79% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. D.A. Davidson & CO. raised its stake in shares of National Oilwell Varco by 4.3% during the 4th quarter. D.A. Davidson & CO. now owns 46,509 shares of the oil and gas exploration company’s stock worth $1,675,000 after purchasing an additional 1,901 shares during the period. Wetherby Asset Management Inc. raised its stake in shares of National Oilwell Varco by 13.6% during the 4th quarter. Wetherby Asset Management Inc. now owns 17,406 shares of the oil and gas exploration company’s stock worth $627,000 after purchasing an additional 2,082 shares during the period. Norinchukin Bank The raised its stake in shares of National Oilwell Varco by 7.4% during the 4th quarter. Norinchukin Bank The now owns 30,384 shares of the oil and gas exploration company’s stock worth $1,094,000 after purchasing an additional 2,098 shares during the period. First Allied Advisory Services Inc. raised its stake in shares of National Oilwell Varco by 6.6% during the 4th quarter. First Allied Advisory Services Inc. now owns 38,615 shares of the oil and gas exploration company’s stock worth $1,390,000 after purchasing an additional 2,391 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its stake in shares of National Oilwell Varco by 3.5% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 72,188 shares of the oil and gas exploration company’s stock worth $2,600,000 after purchasing an additional 2,424 shares during the period. Institutional investors own 93.51% of the company’s stock.

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About National Oilwell Varco

National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

Analyst Recommendations for National Oilwell Varco (NYSE:NOV)

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