National-Oilwell Varco (NYSE:NOV) had its price objective boosted by analysts at Citigroup from $29.00 to $31.00 in a research note issued on Tuesday, April 30th, BenzingaRatingsTable reports. The brokerage presently has a “neutral” rating on the oil and gas exploration company’s stock. Citigroup‘s target price points to a potential upside of 34.03% from the stock’s previous close.
NOV has been the topic of a number of other research reports. Cowen set a $23.00 price objective on shares of National-Oilwell Varco and gave the company a “hold” rating in a research report on Friday, April 12th. Goldman Sachs Group started coverage on shares of National-Oilwell Varco in a research report on Sunday, March 10th. They set a “neutral” rating and a $33.00 price objective on the stock. Royal Bank of Canada set a $31.00 price objective on shares of National-Oilwell Varco and gave the company a “hold” rating in a research report on Friday, February 8th. Raymond James cut their price objective on shares of National-Oilwell Varco from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, April 15th. Finally, Barclays set a $32.00 price objective on shares of National-Oilwell Varco and gave the company a “hold” rating in a research report on Saturday, February 9th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $38.08.
National-Oilwell Varco stock traded down $0.97 during mid-day trading on Tuesday, reaching $23.13. 4,185,047 shares of the company’s stock traded hands, compared to its average volume of 3,906,548. The company has a market cap of $9.24 billion, a price-to-earnings ratio of -289.13 and a beta of 1.20. The company has a quick ratio of 1.81, a current ratio of 3.30 and a debt-to-equity ratio of 0.18. National-Oilwell Varco has a 12-month low of $22.63 and a 12-month high of $49.08.
National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Thursday, April 25th. The oil and gas exploration company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.12). National-Oilwell Varco had a negative net margin of 0.47% and a negative return on equity of 0.29%. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same period in the previous year, the company earned ($0.18) EPS. National-Oilwell Varco’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities research analysts anticipate that National-Oilwell Varco will post -0.16 earnings per share for the current fiscal year.
In related news, VP Scott K. Duff sold 15,125 shares of the stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $28.02, for a total value of $423,802.50. Following the completion of the transaction, the vice president now directly owns 54,098 shares of the company’s stock, valued at approximately $1,515,825.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.92% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of NOV. Macquarie Group Ltd. raised its position in National-Oilwell Varco by 32.7% during the 3rd quarter. Macquarie Group Ltd. now owns 7,300 shares of the oil and gas exploration company’s stock worth $315,000 after buying an additional 1,800 shares during the last quarter. Kentucky Retirement Systems purchased a new position in National-Oilwell Varco during the 3rd quarter worth approximately $2,811,000. Standard Life Aberdeen plc raised its position in National-Oilwell Varco by 5.2% during the 3rd quarter. Standard Life Aberdeen plc now owns 183,402 shares of the oil and gas exploration company’s stock worth $7,901,000 after buying an additional 9,124 shares during the last quarter. Kepos Capital LP purchased a new position in National-Oilwell Varco during the 3rd quarter worth approximately $4,815,000. Finally, Legal & General Group Plc raised its position in National-Oilwell Varco by 2.0% during the 3rd quarter. Legal & General Group Plc now owns 2,012,309 shares of the oil and gas exploration company’s stock worth $86,712,000 after buying an additional 39,430 shares during the last quarter. 93.54% of the stock is owned by institutional investors.
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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