Raymond James Analysts Give National-Oilwell Varco (NOV) a $40.00 Price Target

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Raymond James set a $40.00 price target on National-Oilwell Varco (NYSE:NOV) in a research report released on Friday morning. The brokerage currently has a buy rating on the oil and gas exploration company’s stock.

A number of other research firms also recently weighed in on NOV. Barclays reaffirmed a hold rating and set a $35.00 price objective on shares of National-Oilwell Varco in a report on Friday, January 18th. Zacks Investment Research reaffirmed a strong sell rating on shares of National-Oilwell Varco in a report on Wednesday, November 14th. Royal Bank of Canada set a $43.00 price objective on National-Oilwell Varco and gave the company a hold rating in a report on Sunday, October 28th. R. F. Lafferty set a $43.00 price objective on National-Oilwell Varco and gave the company a buy rating in a report on Wednesday, November 28th. Finally, BMO Capital Markets set a $38.00 target price on National-Oilwell Varco and gave the stock a sell rating in a report on Monday, November 5th. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $39.09.

NYSE NOV opened at $28.83 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.83 and a current ratio of 3.11. The company has a market cap of $10.87 billion, a price-to-earnings ratio of -360.38, a P/E/G ratio of 11.73 and a beta of 1.25. National-Oilwell Varco has a 1-year low of $24.27 and a 1-year high of $49.08.

National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Wednesday, February 6th. The oil and gas exploration company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.18 billion. National-Oilwell Varco had a negative net margin of 0.37% and a negative return on equity of 0.22%. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) earnings per share. On average, sell-side analysts predict that National-Oilwell Varco will post 0.4 EPS for the current year.

National-Oilwell Varco declared that its board has authorized a stock repurchase program on Tuesday, November 6th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the oil and gas exploration company to buy up to 3.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in National-Oilwell Varco by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 40,535,826 shares of the oil and gas exploration company’s stock worth $1,746,283,000 after purchasing an additional 506,418 shares during the last quarter. Vanguard Group Inc raised its position in National-Oilwell Varco by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 40,535,826 shares of the oil and gas exploration company’s stock worth $1,746,283,000 after purchasing an additional 506,418 shares during the last quarter. BlackRock Inc. raised its position in National-Oilwell Varco by 4.3% in the 4th quarter. BlackRock Inc. now owns 26,005,356 shares of the oil and gas exploration company’s stock worth $668,337,000 after purchasing an additional 1,072,861 shares during the last quarter. Pzena Investment Management LLC raised its position in National-Oilwell Varco by 37.9% in the 4th quarter. Pzena Investment Management LLC now owns 12,651,572 shares of the oil and gas exploration company’s stock worth $325,145,000 after purchasing an additional 3,475,751 shares during the last quarter. Finally, Parnassus Investments CA raised its position in National-Oilwell Varco by 6.9% in the 4th quarter. Parnassus Investments CA now owns 11,034,343 shares of the oil and gas exploration company’s stock worth $283,583,000 after purchasing an additional 716,126 shares during the last quarter. Hedge funds and other institutional investors own 92.16% of the company’s stock.

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.

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Analyst Recommendations for National-Oilwell Varco (NYSE:NOV)

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