Raymond James restated their buy rating on shares of National-Oilwell Varco (NYSE:NOV) in a report issued on Thursday morning. They currently have a $37.00 price objective on the oil and gas exploration company’s stock.

Other equities research analysts have also issued research reports about the company. Piper Jaffray Companies set a $42.00 price target on National-Oilwell Varco and gave the stock a buy rating in a research note on Sunday, October 28th. R. F. Lafferty upgraded National-Oilwell Varco from a hold rating to a buy rating and boosted their price target for the stock from $41.00 to $51.00 in a research note on Tuesday, August 21st. Stifel Nicolaus started coverage on National-Oilwell Varco in a research note on Monday, September 10th. They set a buy rating and a $54.00 price target on the stock. Johnson Rice upgraded National-Oilwell Varco from a hold rating to a buy rating and set a $55.00 price target on the stock in a research note on Tuesday, October 2nd. Finally, Societe Generale upgraded National-Oilwell Varco from a hold rating to a buy rating and set a $48.00 price target on the stock in a research note on Monday, October 29th. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the stock. National-Oilwell Varco has an average rating of Hold and an average price target of $42.41.

Shares of NOV stock opened at $26.68 on Thursday. National-Oilwell Varco has a fifty-two week low of $26.53 and a fifty-two week high of $49.08. The stock has a market cap of $10.23 billion, a PE ratio of -63.52 and a beta of 1.00. 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 company also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be given a $0.05 dividend. The ex-dividend date is Thursday, December 6th. This represents a $0.20 dividend on an annualized basis and a yield of 0.75%. National-Oilwell Varco’s dividend payout ratio is currently -47.62%.

National-Oilwell Varco announced that its Board of Directors has approved a share buyback plan on Tuesday, November 6th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the oil and gas exploration company to buy up to 3.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently modified their holdings of NOV. Pzena Investment Management LLC lifted its holdings in National-Oilwell Varco by 107.9% in the third quarter. Pzena Investment Management LLC now owns 9,175,821 shares of the oil and gas exploration company’s stock valued at $395,294,000 after acquiring an additional 4,761,228 shares during the period. Capital Research Global Investors lifted its holdings in National-Oilwell Varco by 48.1% in the third quarter. Capital Research Global Investors now owns 9,588,000 shares of the oil and gas exploration company’s stock valued at $413,051,000 after acquiring an additional 3,114,117 shares during the period. Alliancebernstein L.P. lifted its holdings in National-Oilwell Varco by 197.1% in the third quarter. Alliancebernstein L.P. now owns 2,950,274 shares of the oil and gas exploration company’s stock valued at $127,098,000 after acquiring an additional 1,957,301 shares during the period. Morgan Stanley lifted its holdings in National-Oilwell Varco by 15.8% in the third quarter. Morgan Stanley now owns 6,524,434 shares of the oil and gas exploration company’s stock valued at $281,073,000 after acquiring an additional 890,440 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in National-Oilwell Varco by 512.0% in the third quarter. Janus Henderson Group PLC now owns 870,332 shares of the oil and gas exploration company’s stock valued at $37,492,000 after acquiring an additional 728,120 shares during the period. Hedge funds and other institutional investors own 92.41% of the company’s stock.

National-Oilwell Varco Company Profile

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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