National-Oilwell Varco (NOV) PT Set at $43.00 by Royal Bank of Canada

Royal Bank of Canada set a $43.00 target price on National-Oilwell Varco (NYSE:NOV) in a research report report published on Sunday morning, The Fly reports. The firm currently has a hold rating on the oil and gas exploration company’s stock.

Other analysts have also recently issued reports about the stock. Citigroup upped their price target on shares of National-Oilwell Varco from $39.00 to $45.00 and gave the company a neutral rating in a research note on Wednesday, July 11th. BMO Capital Markets upped their price target on shares of National-Oilwell Varco from $32.00 to $39.00 and gave the company a sell rating in a research note on Monday, July 30th. Wells Fargo & Co upped their price target on shares of National-Oilwell Varco from $41.00 to $43.00 and gave the company a hold rating in a research note on Sunday, July 29th. Credit Suisse Group set a $43.00 price target on shares of National-Oilwell Varco and gave the company a hold rating in a research note on Monday, July 30th. Finally, Raymond James upped their price target on shares of National-Oilwell Varco from $50.00 to $55.00 and gave the company a buy rating in a research note on Monday, July 30th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. National-Oilwell Varco currently has an average rating of Hold and a consensus price target of $43.32.

NOV opened at $36.80 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.78 and a current ratio of 3.17. The stock has a market capitalization of $13.76 billion, a price-to-earnings ratio of -87.62, a P/E/G ratio of 44.16 and a beta of 0.93. National-Oilwell Varco has a twelve month low of $31.47 and a twelve month high of $49.08.

In related news, Director Eric L. Mattson sold 5,284 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $45.06, for a total transaction of $238,097.04. Following the sale, the director now owns 66,862 shares of the company’s stock, valued at approximately $3,012,801.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric L. Mattson sold 11,112 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $45.34, for a total transaction of $503,818.08. Following the sale, the director now directly owns 66,862 shares in the company, valued at approximately $3,031,523.08. The disclosure for this sale can be found here. Insiders have sold a total of 20,734 shares of company stock worth $939,945 in the last ninety days. 0.79% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of NOV. Quad Cities Investment Group LLC bought a new position in shares of National-Oilwell Varco in the 2nd quarter worth $104,000. Cerebellum GP LLC bought a new position in shares of National-Oilwell Varco in the 3rd quarter worth $163,000. First Hawaiian Bank purchased a new stake in shares of National-Oilwell Varco in the 3rd quarter valued at $174,000. Piedmont Investment Advisors LLC purchased a new stake in shares of National-Oilwell Varco in the 2nd quarter valued at $194,000. Finally, Assetmark Inc. boosted its stake in shares of National-Oilwell Varco by 225.5% in the 2nd quarter. Assetmark Inc. now owns 4,551 shares of the oil and gas exploration company’s stock valued at $198,000 after purchasing an additional 3,153 shares in the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

About National-Oilwell Varco

National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

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

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