Shares of National Oilwell Varco (NYSE:NOV) have received an average recommendation of “Hold” from the thirty-one brokerages that are presently covering the company. Three research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $34.93.

Several equities research analysts recently commented on the company. Societe Generale upgraded National Oilwell Varco from a “sell” rating to a “hold” rating and raised their target price for the company from $32.10 to $35.00 in a report on Monday, October 31st. Jefferies Group reiterated a “hold” rating and set a $32.00 target price on shares of National Oilwell Varco in a report on Monday, August 1st. Credit Suisse Group AG reiterated a “sell” rating and set a $23.00 target price on shares of National Oilwell Varco in a report on Friday, July 29th. BMO Capital Markets restated a “sell” rating and set a $25.00 price objective on shares of National Oilwell Varco in a report on Friday, July 29th. Finally, Johnson Rice upgraded National Oilwell Varco from a “hold” rating to an “accumulate” rating in a report on Friday, July 29th.

Shares of National Oilwell Varco (NYSE:NOV) opened at 33.34 on Wednesday. The company’s 50 day moving average price is $35.01 and its 200 day moving average price is $33.80. The firm’s market capitalization is $12.59 billion. National Oilwell Varco has a one year low of $25.74 and a one year high of $38.89.

National Oilwell Varco (NYSE:NOV) last announced its earnings results on Thursday, October 27th. The oil and gas exploration company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.28) by $0.06. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.68 billion. National Oilwell Varco had a negative net margin of 38.90% and a negative return on equity of 0.71%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 earnings per share. On average, analysts expect that National Oilwell Varco will post ($0.98) EPS for the current fiscal year.

Several large investors have recently made changes to their positions in NOV. Quadrant Capital Group LLC raised its stake in shares of National Oilwell Varco by 13.6% in the second quarter. Quadrant Capital Group LLC now owns 3,126 shares of the oil and gas exploration company’s stock worth $101,000 after buying an additional 375 shares during the period. TCI Wealth Advisors Inc. raised its position in National Oilwell Varco by 1,441.6% in the third quarter. TCI Wealth Advisors Inc. now owns 2,744 shares of the oil and gas exploration company’s stock valued at $101,000 after buying an additional 2,566 shares during the last quarter. New York Life Trust Co. raised its position in National Oilwell Varco by 608.8% in the third quarter. New York Life Trust Co. now owns 2,906 shares of the oil and gas exploration company’s stock valued at $107,000 after buying an additional 2,496 shares during the last quarter. Global X Management Co. LLC raised its position in National Oilwell Varco by 94.0% in the third quarter. Global X Management Co. LLC now owns 3,384 shares of the oil and gas exploration company’s stock valued at $124,000 after buying an additional 1,640 shares during the last quarter. Finally, WFG Advisors LP raised its position in National Oilwell Varco by 16.1% in the second quarter. WFG Advisors LP now owns 3,790 shares of the oil and gas exploration company’s stock valued at $128,000 after buying an additional 526 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors.

About National Oilwell Varco

National Oilwell Varco, Inc (NOV) is engaged in providing design, manufacture and sale of equipment and components used in oil and gas drilling, completion and production operations. The Company operates through four segments: Rig Systems, which makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore; Rig Aftermarket, which provides aftermarket products and services to support land and offshore rigs, and drilling rig components manufactured by the Company’s Rig Systems segment; Wellbore Technologies, which sells and rents solids control equipment, and provides solids control, waste management and drilling fluids services, and Completion & Production Solutions, which provides technologies for well completions and oil and gas production.

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