National-Oilwell Varco (NYSE:NOV) has been assigned a $37.00 target price by research analysts at Barclays in a report released on Thursday, Marketbeat.com reports. The firm currently has an “equal weight” rating on the oil and gas exploration company’s stock. Barclays’ price target points to a potential upside of 11.82% from the company’s previous close.
Several other research firms also recently weighed in on NOV. Wolfe Research downgraded shares of National-Oilwell Varco from a “market perform” rating to an “underperform” rating in a research report on Tuesday, October 31st. Royal Bank of Canada set a $37.00 target price on shares of National-Oilwell Varco and gave the stock a “hold” rating in a research report on Thursday, December 21st. JPMorgan Chase & Co. dropped their target price on shares of National-Oilwell Varco from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, October 30th. ValuEngine downgraded shares of National-Oilwell Varco from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Finally, Susquehanna Bancshares set a $35.00 target price on shares of National-Oilwell Varco and gave the stock a “hold” rating in a research report on Friday, January 12th. Five analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $38.50.
Shares of National-Oilwell Varco (NYSE NOV) opened at $33.09 on Thursday. The firm has a market cap of $12,404.25, a P/E ratio of -52.52, a price-to-earnings-growth ratio of 18.13 and a beta of 0.89. National-Oilwell Varco has a 12-month low of $29.90 and a 12-month high of $41.90. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.62 and a current ratio of 3.07.
Several hedge funds have recently added to or reduced their stakes in the company. First Eagle Investment Management LLC boosted its holdings in shares of National-Oilwell Varco by 2.1% in the 3rd quarter. First Eagle Investment Management LLC now owns 27,068,594 shares of the oil and gas exploration company’s stock valued at $967,161,000 after acquiring an additional 563,589 shares during the last quarter. BlackRock Inc. boosted its holdings in National-Oilwell Varco by 0.3% during the fourth quarter. BlackRock Inc. now owns 25,257,983 shares of the oil and gas exploration company’s stock worth $909,792,000 after buying an additional 78,663 shares in the last quarter. Parnassus Investments CA boosted its holdings in National-Oilwell Varco by 10.1% during the fourth quarter. Parnassus Investments CA now owns 6,929,938 shares of the oil and gas exploration company’s stock worth $249,616,000 after buying an additional 637,925 shares in the last quarter. American Century Companies Inc. boosted its holdings in National-Oilwell Varco by 4.2% during the fourth quarter. American Century Companies Inc. now owns 6,390,274 shares of the oil and gas exploration company’s stock worth $230,178,000 after buying an additional 255,563 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in National-Oilwell Varco during the third quarter worth $226,421,000. 91.83% of the stock is currently owned by institutional investors and hedge funds.
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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.
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