National-Oilwell Varco (NYSE:NOV) has been assigned a $33.00 target price by Cowen in a note issued to investors on Thursday. The firm currently has a “hold” rating on the oil and gas exploration company’s stock. Cowen’s price target would indicate a potential downside of 15.69% from the company’s previous close.

NOV has been the subject of several other research reports. R. F. Lafferty dropped their price target on shares of National-Oilwell Varco from $33.00 to $31.00 and set a “hold” rating for the company in a research note on Monday, November 6th. FBR & Co reiterated a “buy” rating on shares of National-Oilwell Varco in a research note on Monday, October 16th. Scotiabank set a $37.00 target price on shares of National-Oilwell Varco and gave the stock a “hold” rating in a research note on Friday, October 27th. Zacks Investment Research upgraded shares of National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Monday, October 9th. Finally, ValuEngine downgraded shares of National-Oilwell Varco from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $38.04.

National-Oilwell Varco (NOV) opened at $39.14 on Thursday. The company has a market cap of $14,870.00, a price-to-earnings ratio of -15.78, a price-to-earnings-growth ratio of 20.24 and a beta of 0.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.75 and a quick ratio of 1.62. National-Oilwell Varco has a 12 month low of $29.90 and a 12 month high of $41.90.

National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. National-Oilwell Varco had a negative net margin of 1.47% and a negative return on equity of 0.74%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. sell-side analysts forecast that National-Oilwell Varco will post -0.41 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. IHT Wealth Management LLC lifted its position in National-Oilwell Varco by 1,923.1% in the second quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock valued at $112,000 after acquiring an additional 500 shares during the last quarter. Tiedemann Wealth Management LLC lifted its position in National-Oilwell Varco by 77.8% in the third quarter. Tiedemann Wealth Management LLC now owns 11,668 shares of the oil and gas exploration company’s stock valued at $194,000 after acquiring an additional 5,107 shares during the last quarter. IBM Retirement Fund purchased a new stake in National-Oilwell Varco in the third quarter valued at $200,000. Wrapmanager Inc. purchased a new stake in National-Oilwell Varco in the third quarter valued at $202,000. Finally, Smith Salley & Associates purchased a new stake in National-Oilwell Varco in the third quarter valued at $214,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

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About National-Oilwell Varco

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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