Credit Suisse Group set a $35.00 price objective on National Oilwell Varco, Inc. (NYSE:NOV) in a research note issued to investors on Saturday morning. The brokerage currently has a hold rating on the oil and gas exploration company’s stock.
A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of National Oilwell Varco from a hold rating to a sell rating in a research note on Tuesday, April 18th. BMO Capital Markets restated a sell rating and set a $30.00 target price on shares of National Oilwell Varco in a research note on Thursday, June 22nd. ValuEngine lowered shares of National Oilwell Varco from a hold rating to a sell rating in a research note on Friday, June 2nd. Vetr lowered shares of National Oilwell Varco from a strong-buy rating to a buy rating and set a $43.33 target price on the stock. in a research note on Thursday, April 6th. Finally, Morgan Stanley restated an overweight rating and set a $50.00 target price (down from $60.00) on shares of National Oilwell Varco in a research note on Wednesday, June 21st. Four equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. National Oilwell Varco presently has an average rating of Hold and an average price target of $39.10.
National Oilwell Varco (NOV) traded down 1.78% on Friday, reaching $33.11. 4,686,302 shares of the company’s stock were exchanged. The stock’s market cap is $12.48 billion. The firm has a 50 day moving average of $33.13 and a 200-day moving average of $36.20. National Oilwell Varco has a one year low of $31.00 and a one year high of $43.63.
National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.14). The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.78 billion. National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.11%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.30) earnings per share. Equities research analysts forecast that National Oilwell Varco will post ($0.40) EPS for the current fiscal year.
ILLEGAL ACTIVITY WARNING: “National Oilwell Varco, Inc. (NYSE:NOV) Given a $35.00 Price Target at Credit Suisse Group” was first published by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this story on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this story can be read at https://stocknewstimes.com/2017/07/30/national-oilwell-varco-inc-nysenov-given-a-35-00-price-target-at-credit-suisse-group.html.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Wednesday, June 14th. National Oilwell Varco’s payout ratio is currently -3.31%.
Several large investors have recently bought and sold shares of NOV. AQR Capital Management LLC increased its stake in National Oilwell Varco by 98.0% in the fourth quarter. AQR Capital Management LLC now owns 18,411 shares of the oil and gas exploration company’s stock valued at $689,000 after buying an additional 9,113 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in National Oilwell Varco by 5.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 13,120 shares of the oil and gas exploration company’s stock valued at $491,000 after buying an additional 724 shares during the last quarter. Teachers Advisors LLC increased its stake in National Oilwell Varco by 1.8% in the fourth quarter. Teachers Advisors LLC now owns 755,987 shares of the oil and gas exploration company’s stock valued at $28,304,000 after buying an additional 13,547 shares during the last quarter. Kentucky Retirement Systems bought a new stake in shares of National Oilwell Varco during the fourth quarter valued at $1,026,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of National Oilwell Varco during the fourth quarter valued at $458,000. 91.41% of the stock is 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.
Receive News & Ratings for National Oilwell Varco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Oilwell Varco Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
