Several analysts have recently updated their ratings and price targets for National Oilwell Varco (NYSE: NOV):

  • 8/7/2017 – National Oilwell Varco was downgraded by analysts at SunTrust Banks, Inc. from a “hold” rating to a “sell” rating. They now have a $50.00 price target on the stock, up previously from $29.00. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 8/5/2017 – National Oilwell Varco was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 8/3/2017 – National Oilwell Varco had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $36.00 price target on the stock.
  • 8/2/2017 – National Oilwell Varco had its price target lowered by analysts at Cowen and Company from $37.00 to $30.00. They now have a “market perform” rating on the stock.
  • 8/2/2017 – National Oilwell Varco had its “hold” rating reaffirmed by analysts at Barclays PLC. They now have a $38.00 price target on the stock.
  • 8/1/2017 – National Oilwell Varco had its “hold” rating reaffirmed by analysts at R. F. Lafferty. They now have a $33.00 price target on the stock, down previously from $38.00.
  • 8/1/2017 – National Oilwell Varco was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “National Oilwell Varco is one of the biggest manufacturers of drilling equipment which provides for a steady recurring revenue stream. We  appreciate the company’s cost reduction initiatives which has helped the company to deliver better results in the second quarter when compared to the prior year quarter. The company boasts of impressive earnings history and pricing strength with its shares outperforming the broader market. Further, we like NOV's pristine balancesheet  providing it financial flexibility to make acquisitions and grow internally. However, oilfield service stocks are extremely volatile and the correlation of their movement with underlying business fundamentals is difficult to establish. Also, with a major portion of the company’s total revenue coming from international markets, NOV is exposed to business risk abroad. Therefore, we take a cautious stance on the prospects of the stock.”
  • 7/31/2017 – National Oilwell Varco had its “neutral” rating reaffirmed by analysts at UBS AG. They now have a $37.00 price target on the stock, down previously from $38.00.
  • 7/31/2017 – National Oilwell Varco had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $34.00 price target on the stock, down previously from $38.00.
  • 7/29/2017 – National Oilwell Varco was given a new $35.00 price target on by analysts at Credit Suisse Group. They now have a “hold” rating on the stock.
  • 7/28/2017 – National Oilwell Varco had its “sell” rating reaffirmed by analysts at Seaport Global Securities.
  • 7/28/2017 – National Oilwell Varco was given a new $37.00 price target on by analysts at Scotiabank. They now have a “hold” rating on the stock.
  • 7/27/2017 – National Oilwell Varco was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 7/27/2017 – National Oilwell Varco was given a new $37.00 price target on by analysts at Piper Jaffray Companies. They now have a “buy” rating on the stock.
  • 7/11/2017 – National Oilwell Varco had its “hold” rating reaffirmed by analysts at Cowen and Company. They now have a $37.00 price target on the stock.
  • 7/11/2017 – National Oilwell Varco was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 7/11/2017 – National Oilwell Varco was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of National Oilwell have declined by around 13% year to date. The North American drilling slump has hit the margins of the company. With new competitors entering the market and shrinkage of capital expenditure spending by the drilling contractors, National Oilwell Varco has seen its new equipment package pricing. Further, with a major portion of the company’s total revenue coming from international markets, NOV is exposed to business risk abroad including embargoes and/or expropriation of assets, exchange rate risks, and terrorism among others. As it is, oilfield service stocks are extremely volatile and the correlation of their movement with underlying business fundamentals is difficult to establish. Given these headwinds, we view National Oilwell as a risky bet and maintain bearish stance on the stock. “
  • 7/10/2017 – National Oilwell Varco had its “market perform” rating reaffirmed by analysts at Wells Fargo & Company.
  • 7/5/2017 – National Oilwell Varco was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 6/22/2017 – National Oilwell Varco had its “sell” rating reaffirmed by analysts at BMO Capital Markets. They now have a $30.00 price target on the stock.
  • 6/21/2017 – National Oilwell Varco had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $50.00 price target on the stock, down previously from $60.00.
  • 6/20/2017 – National Oilwell Varco was upgraded by analysts at Piper Jaffray Companies from a “neutral” rating to an “overweight” rating. They now have a $37.00 price target on the stock, up previously from $36.00.

Shares of National Oilwell Varco, Inc. (NYSE:NOV) traded down 1.49% during midday trading on Thursday, hitting $30.35. The stock had a trading volume of 3,661,834 shares. The company’s 50 day moving average is $32.79 and its 200 day moving average is $35.87. The company’s market cap is $11.53 billion. National Oilwell Varco, Inc. has a 52-week low of $30.29 and a 52-week high of $43.63.

National Oilwell Varco (NYSE:NOV) last released its earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.78 billion. National Oilwell Varco had a negative return on equity of 2.12% and a negative net margin of 33.24%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.30) earnings per share. On average, analysts anticipate that National Oilwell Varco, Inc. will post ($0.40) earnings per share for the current year.

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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