National-Oilwell Varco, Inc. (NYSE:NOV) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

A number of other research firms also recently issued reports on NOV. Jefferies Group LLC set a $34.00 price objective on shares of National-Oilwell Varco and gave the company a “hold” rating in a research note on Thursday, October 5th. Piper Jaffray Companies reiterated a “buy” rating and set a $36.00 price objective on shares of National-Oilwell Varco in a research note on Tuesday, September 26th. Deutsche Bank AG assumed coverage on shares of National-Oilwell Varco in a research note on Tuesday. They set a “hold” rating and a $39.00 price objective on the stock. Citigroup Inc. increased their price objective on shares of National-Oilwell Varco from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, October 5th. Finally, Cowen and Company set a $30.00 price objective on shares of National-Oilwell Varco and gave the company a “hold” rating in a research note on Friday, October 6th. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. National-Oilwell Varco has an average rating of “Hold” and a consensus target price of $38.61.

National-Oilwell Varco (NYSE:NOV) opened at 34.38 on Wednesday. The stock’s 50 day moving average is $33.71 and its 200 day moving average is $33.90. The stock’s market capitalization is $13.07 billion. National-Oilwell Varco has a 12-month low of $29.90 and a 12-month high of $43.63.

National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.14). National-Oilwell Varco had a negative net margin of 4.21% and a negative return on equity of 2.16%. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period last year, the firm earned ($0.30) earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. Equities analysts predict that National-Oilwell Varco will post ($0.41) earnings per share for the current fiscal year.

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Institutional investors have recently modified their holdings of the stock. Amalgamated Bank raised its holdings in shares of National-Oilwell Varco by 6.1% during the first quarter. Amalgamated Bank now owns 26,521 shares of the oil and gas exploration company’s stock worth $1,063,000 after purchasing an additional 1,525 shares during the last quarter. Comerica Bank raised its holdings in shares of National-Oilwell Varco by 1.0% during the second quarter. Comerica Bank now owns 121,682 shares of the oil and gas exploration company’s stock worth $4,037,000 after purchasing an additional 1,187 shares during the last quarter. Andra AP fonden raised its holdings in shares of National-Oilwell Varco by 32.7% during the second quarter. Andra AP fonden now owns 58,500 shares of the oil and gas exploration company’s stock worth $1,927,000 after purchasing an additional 14,400 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of National-Oilwell Varco by 13.1% during the first quarter. Nomura Asset Management Co. Ltd. now owns 234,915 shares of the oil and gas exploration company’s stock worth $9,416,000 after purchasing an additional 27,197 shares during the last quarter. Finally, HAP Trading LLC raised its holdings in shares of National-Oilwell Varco by 281.5% during the second quarter. HAP Trading LLC now owns 21,957 shares of the oil and gas exploration company’s stock worth $723,000 after purchasing an additional 34,057 shares during the last quarter. 90.29% of the stock is owned by hedge funds and other institutional investors.

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.

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

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