National Oilwell Varco, Inc. (NYSE:NOV) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Wednesday.

Several other research analysts also recently commented on NOV. BidaskClub downgraded shares of National Oilwell Varco from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Piper Jaffray Companies set a $37.00 price objective on shares of National Oilwell Varco and gave the company a “buy” rating in a report on Thursday, July 27th. Scotiabank set a $37.00 price objective on shares of National Oilwell Varco and gave the company a “hold” rating in a report on Friday, July 28th. Credit Suisse Group AG set a $35.00 price objective on shares of National Oilwell Varco and gave the company a “hold” rating in a report on Saturday, July 29th. Finally, UBS AG reissued a “neutral” rating and set a $37.00 price objective (down previously from $38.00) on shares of National Oilwell Varco in a report on Monday, July 31st. Six analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $37.83.

National Oilwell Varco (NYSE:NOV) opened at $32.27 on Wednesday. National Oilwell Varco has a 1-year low of $29.90 and a 1-year high of $43.63. The company has a current ratio of 2.75, a quick ratio of 1.62 and a debt-to-equity ratio of 0.19.

National Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. National Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the firm earned ($0.34) EPS. The business’s revenue was up 11.5% on a year-over-year basis. equities analysts forecast that National Oilwell Varco will post -0.41 earnings per share for the current fiscal year.

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Several large investors have recently modified their holdings of the company. Janus Henderson Group PLC increased its position in shares of National Oilwell Varco by 24.6% during the third quarter. Janus Henderson Group PLC now owns 151,848 shares of the oil and gas exploration company’s stock worth $5,425,000 after acquiring an additional 29,990 shares during the period. Chevy Chase Trust Holdings Inc. increased its position in shares of National Oilwell Varco by 1.2% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 481,830 shares of the oil and gas exploration company’s stock worth $17,216,000 after acquiring an additional 5,641 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of National Oilwell Varco by 14.1% during the third quarter. Oppenheimer Asset Management Inc. now owns 12,580 shares of the oil and gas exploration company’s stock worth $449,000 after acquiring an additional 1,558 shares during the period. Magnetar Financial LLC increased its position in shares of National Oilwell Varco by 53.5% during the third quarter. Magnetar Financial LLC now owns 21,896 shares of the oil and gas exploration company’s stock worth $782,000 after acquiring an additional 7,633 shares during the period. Finally, Asset Management One Co. Ltd. increased its holdings in National Oilwell Varco by 0.4% during the third quarter. Asset Management One Co. Ltd. now owns 574,494 shares of the oil and gas exploration company’s stock valued at $20,521,000 after buying an additional 2,189 shares during the period. 90.16% of the stock is currently 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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