National-Oilwell Varco (NOV) PT Set at $37.00 by Barclays

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.

National-Oilwell Varco (NYSE:NOV) last released its earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). The company had revenue of $1.97 billion for the quarter. National-Oilwell Varco had a negative net margin of 3.24% and a negative return on equity of 1.10%. During the same period in the prior year, the firm posted ($0.15) EPS. equities analysts expect that National-Oilwell Varco will post 0.3 earnings per share for the current year.

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.

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

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