National-Oilwell Varco (NYSE:NOV) Price Target Raised to $15.00

National-Oilwell Varco (NYSE:NOV) had its price target hoisted by JPMorgan Chase & Co. from $14.00 to $15.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. The firm currently has a neutral rating on the oil and gas exploration company’s stock.

A number of other equities analysts also recently commented on the stock. Capital One Financial raised shares of National-Oilwell Varco from an equal weight rating to an overweight rating in a research note on Tuesday, April 7th. Stifel Nicolaus cut their price target on shares of National-Oilwell Varco from $18.00 to $16.00 and set a buy rating for the company in a report on Wednesday, April 29th. Morgan Stanley raised their price objective on shares of National-Oilwell Varco from $12.00 to $13.00 and gave the company an equal weight rating in a research report on Thursday, July 9th. UBS Group boosted their target price on shares of National-Oilwell Varco from $10.00 to $11.00 and gave the stock a neutral rating in a report on Tuesday, May 26th. Finally, ValuEngine upgraded shares of National-Oilwell Varco from a hold rating to a buy rating in a research report on Friday, May 1st. Twelve analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $17.91.

Shares of NYSE:NOV remained flat at $$11.51 during trading on Wednesday. 7,783,758 shares of the company’s stock traded hands, compared to its average volume of 6,418,237. National-Oilwell Varco has a fifty-two week low of $8.00 and a fifty-two week high of $25.81. The firm’s fifty day simple moving average is $11.99 and its 200 day simple moving average is $14.70. The company has a quick ratio of 1.79, a current ratio of 2.86 and a debt-to-equity ratio of 0.37.

National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings results on Monday, July 27th. The oil and gas exploration company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.15. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.53 billion. National-Oilwell Varco had a negative return on equity of 2.32% and a negative net margin of 35.56%. National-Oilwell Varco’s revenue was down 29.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.02 EPS. On average, analysts expect that National-Oilwell Varco will post -0.19 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the company. Comerica Bank raised its holdings in National-Oilwell Varco by 8.7% during the 2nd quarter. Comerica Bank now owns 87,382 shares of the oil and gas exploration company’s stock worth $1,064,000 after buying an additional 7,008 shares during the period. UBS Group AG raised its holdings in shares of National-Oilwell Varco by 41.5% during the second quarter. UBS Group AG now owns 498,436 shares of the oil and gas exploration company’s stock worth $6,106,000 after acquiring an additional 146,281 shares during the period. First Horizon Advisors Inc. lifted its position in National-Oilwell Varco by 10.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 144,647 shares of the oil and gas exploration company’s stock valued at $1,770,000 after acquiring an additional 13,849 shares in the last quarter. State of Michigan Retirement System lifted its position in National-Oilwell Varco by 12.2% in the 2nd quarter. State of Michigan Retirement System now owns 99,174 shares of the oil and gas exploration company’s stock valued at $1,215,000 after acquiring an additional 10,796 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new position in National-Oilwell Varco during the 2nd quarter worth about $398,000. Institutional investors and hedge funds own 95.83% of the company’s stock.

National-Oilwell Varco Company Profile

National Oilwell Varco, Inc designs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. It operates in three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. The Wellbore Technologies segment offers various equipment and technologies used to perform drilling operations.

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

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