National Oilwell Varco, Inc. (NYSE:NOV)‘s stock had its “buy” rating reissued by research analysts at Piper Jaffray Companies in a research report issued on Thursday. They presently have a $36.00 target price on the oil and gas exploration company’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 8.50% from the stock’s current price.

NOV has been the topic of several other reports. Credit Suisse Group set a $35.00 price target on shares of National Oilwell Varco and gave the stock a “hold” rating in a research report on Saturday, July 29th. Zacks Investment Research downgraded shares of National Oilwell Varco from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Scotiabank set a $37.00 price target on shares of National Oilwell Varco and gave the stock a “hold” rating in a research report on Friday, July 28th. R. F. Lafferty started coverage on shares of 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. Finally, Morgan Stanley reiterated 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. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. National Oilwell Varco has a consensus rating of “Hold” and an average price target of $38.14.

National Oilwell Varco (NYSE:NOV) traded up 1.72% on Thursday, reaching $33.18. 2,567,595 shares of the company were exchanged. The firm’s market capitalization is $12.61 billion. National Oilwell Varco has a 12-month low of $31.02 and a 12-month high of $43.63. The firm has a 50-day moving average of $33.02 and a 200 day moving average of $36.10.

National Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.14). National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period last year, the firm earned ($0.30) earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities analysts predict that National Oilwell Varco will post ($0.41) earnings per share for the current year.

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Several institutional investors have recently modified their holdings of NOV. Cadence Capital Management LLC boosted its position in shares of National Oilwell Varco by 1.0% in the second quarter. Cadence Capital Management LLC now owns 14,143 shares of the oil and gas exploration company’s stock worth $466,000 after buying an additional 143 shares during the last quarter. Peddock Capital Advisors LLC boosted its position in shares of National Oilwell Varco by 1.7% in the second quarter. Peddock Capital Advisors LLC now owns 9,188 shares of the oil and gas exploration company’s stock worth $303,000 after buying an additional 150 shares during the last quarter. Knowledge Leaders Capital LLC boosted its position in shares of National Oilwell Varco by 0.9% in the second quarter. Knowledge Leaders Capital LLC now owns 181,154 shares of the oil and gas exploration company’s stock worth $5,967,000 after buying an additional 1,639 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of National Oilwell Varco by 1.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 569,201 shares of the oil and gas exploration company’s stock worth $18,749,000 after buying an additional 6,327 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of National Oilwell Varco during the second quarter worth approximately $645,000. 91.13% 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.

Analyst Recommendations for National Oilwell Varco (NYSE:NOV)

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