National-Oilwell Varco (NYSE:NOV) had its target price reduced by analysts at Citigroup from $49.00 to $48.00 in a report issued on Friday, Stock Target Advisor reports. The brokerage currently has a “neutral” rating on the oil and gas exploration company’s stock. Citigroup’s price target indicates a potential upside of 8.35% from the company’s previous close.

Other research analysts have also issued research reports about the company. Barclays raised their target price on National-Oilwell Varco from $37.00 to $44.00 and gave the company a “hold” rating in a report on Monday, July 30th. Stifel Nicolaus assumed coverage on National-Oilwell Varco in a research report on Monday, September 10th. They set a “buy” rating and a $54.00 price target for the company. Wells Fargo & Co increased their price target on National-Oilwell Varco from $37.00 to $47.00 and gave the company a “market perform” rating in a research report on Thursday, May 24th. Credit Suisse Group set a $43.00 price target on National-Oilwell Varco and gave the company a “hold” rating in a research report on Monday, July 30th. Finally, Raymond James increased their price target on National-Oilwell Varco from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, July 30th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have assigned a buy rating to the company. National-Oilwell Varco presently has a consensus rating of “Hold” and a consensus target price of $42.73.

NOV stock opened at $44.30 on Friday. National-Oilwell Varco has a twelve month low of $31.47 and a twelve month high of $49.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.75 and a current ratio of 3.19. The company has a market capitalization of $17.12 billion, a PE ratio of -105.48, a P/E/G ratio of 44.31 and a beta of 0.94.

National-Oilwell Varco (NYSE:NOV) last posted its earnings results on Thursday, July 26th. The oil and gas exploration company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.04. National-Oilwell Varco had a negative return on equity of 0.60% and a negative net margin of 1.09%. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the company earned ($0.14) earnings per share. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. equities research analysts anticipate that National-Oilwell Varco will post 0.17 EPS for the current fiscal year.

In other National-Oilwell Varco news, Director Eric L. Mattson sold 11,112 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $45.34, for a total value of $503,818.08. Following the completion of the sale, the director now directly owns 66,862 shares of the company’s stock, valued at $3,031,523.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric L. Mattson sold 5,284 shares of the firm’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $45.06, for a total value of $238,097.04. Following the completion of the sale, the director now directly owns 66,862 shares of the company’s stock, valued at $3,012,801.72. The disclosure for this sale can be found here. Insiders sold 590,995 shares of company stock valued at $27,870,170 over the last three months. Company insiders own 0.79% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Quad Cities Investment Group LLC purchased a new stake in National-Oilwell Varco in the second quarter worth $104,000. Whittier Trust Co. increased its position in National-Oilwell Varco by 180.6% in the second quarter. Whittier Trust Co. now owns 2,455 shares of the oil and gas exploration company’s stock worth $202,000 after buying an additional 1,580 shares during the last quarter. Vanguard Capital Wealth Advisors purchased a new stake in National-Oilwell Varco in the second quarter worth $295,000. Piedmont Investment Advisors LLC purchased a new stake in National-Oilwell Varco in the second quarter worth $194,000. Finally, Assetmark Inc. increased its position in National-Oilwell Varco by 225.5% in the second quarter. Assetmark Inc. now owns 4,551 shares of the oil and gas exploration company’s stock worth $198,000 after buying an additional 3,153 shares during the last quarter. 95.61% of the stock is owned by institutional investors and hedge funds.

National-Oilwell Varco Company Profile

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.

Read More: How Important is Technical Analysis of Stocks

Stock Target Advisor

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

Receive News & Ratings for National-Oilwell Varco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National-Oilwell Varco and related companies with MarketBeat.com's FREE daily email newsletter.