Royal Bank of Canada restated their hold rating on shares of National-Oilwell Varco (NYSE:NOV) in a research note published on Friday morning. Royal Bank of Canada currently has a $40.00 target price on the oil and gas exploration company’s stock.

A number of other analysts also recently issued reports on the company. Scotiabank set a $37.00 price objective on National-Oilwell Varco and gave the stock a hold rating in a research report on Friday, October 27th. Zacks Investment Research downgraded National-Oilwell Varco from a buy rating to a hold rating in a research report on Monday, October 23rd. ValuEngine downgraded National-Oilwell Varco from a hold rating to a sell rating in a research report on Wednesday, November 15th. R. F. Lafferty cut their price objective on National-Oilwell Varco from $33.00 to $31.00 and set a hold rating for the company in a research report on Monday, November 6th. Finally, Deutsche Bank started coverage on National-Oilwell Varco in a research report on Tuesday, October 10th. They set a hold rating and a $39.00 price objective for the company. Four analysts have rated the stock with a sell rating, twenty have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $38.08.

Shares of National-Oilwell Varco (NOV) opened at $37.98 on Friday. The company has a current ratio of 2.75, a quick ratio of 1.62 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $14,433.62, a PE ratio of -15.25, a P/E/G ratio of 19.78 and a beta of 0.95. National-Oilwell Varco has a 52-week low of $29.90 and a 52-week high of $41.90.

National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. National-Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the company earned ($0.34) EPS. analysts predict that National-Oilwell Varco will post -0.4 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOV. Ameriprise Financial Inc. grew its position in National-Oilwell Varco by 5.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 254,266 shares of the oil and gas exploration company’s stock valued at $8,371,000 after acquiring an additional 13,241 shares in the last quarter. Nationwide Fund Advisors grew its position in shares of National-Oilwell Varco by 23.1% during the second quarter. Nationwide Fund Advisors now owns 358,489 shares of the oil and gas exploration company’s stock worth $11,809,000 after buying an additional 67,269 shares in the last quarter. Amalgamated Bank grew its position in shares of National-Oilwell Varco by 61.2% during the second quarter. Amalgamated Bank now owns 42,749 shares of the oil and gas exploration company’s stock worth $1,408,000 after buying an additional 16,228 shares in the last quarter. BT Investment Management Ltd acquired a new position in shares of National-Oilwell Varco during the second quarter worth about $289,000. Finally, PNC Financial Services Group Inc. grew its position in shares of National-Oilwell Varco by 23.4% during the second quarter. PNC Financial Services Group Inc. now owns 181,504 shares of the oil and gas exploration company’s stock worth $5,977,000 after buying an additional 34,381 shares in the last quarter. 91.85% of the stock is owned by institutional investors.

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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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