National-Oilwell Varco (NYSE:NOV) had its price objective lowered by equities researchers at Raymond James from $40.00 to $35.00 in a note issued to investors on Monday, BenzingaRatingsTable reports. The brokerage presently has an “outperform” rating on the oil and gas exploration company’s stock. Raymond James’ price target would suggest a potential upside of 24.25% from the stock’s current price.

Several other analysts have also recently commented on the stock. Barclays restated a “hold” rating and set a $35.00 price objective on shares of National-Oilwell Varco in a research note on Friday, January 18th. Goldman Sachs Group initiated coverage on shares of National-Oilwell Varco in a research note on Sunday, March 10th. They set a “neutral” rating and a $33.00 price objective for the company. UBS Group set a $28.00 price objective on shares of National-Oilwell Varco and gave the company a “hold” rating in a research note on Thursday, December 20th. Stephens initiated coverage on shares of National-Oilwell Varco in a research note on Wednesday, January 9th. They set an “overweight” rating and a $35.00 price objective for the company. Finally, Citigroup decreased their price objective on shares of National-Oilwell Varco from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 4th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $38.21.

NOV stock traded up $1.30 during trading on Monday, reaching $28.17. The company had a trading volume of 263,659 shares, compared to its average volume of 3,510,999. The stock has a market capitalization of $11.25 billion, a PE ratio of -352.13, a price-to-earnings-growth ratio of 25.81 and a beta of 1.22. The company has a quick ratio of 1.83, a current ratio of 3.11 and a debt-to-equity ratio of 0.19. National-Oilwell Varco has a twelve month low of $24.27 and a twelve month high of $49.08.

National-Oilwell Varco (NYSE:NOV) last released its earnings results on Wednesday, February 6th. The oil and gas exploration company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). National-Oilwell Varco had a negative return on equity of 0.22% and a negative net margin of 0.37%. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter last year, the business earned ($0.04) earnings per share. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. On average, equities research analysts expect that National-Oilwell Varco will post 0.19 earnings per share for the current year.

In other news, VP Scott K. Duff sold 15,125 shares of National-Oilwell Varco stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $28.02, for a total transaction of $423,802.50. Following the completion of the transaction, the vice president now directly owns 54,098 shares of the company’s stock, valued at approximately $1,515,825.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.79% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sciencast Management LP purchased a new stake in National-Oilwell Varco in the 1st quarter worth $440,000. Retirement Systems of Alabama increased its holdings in National-Oilwell Varco by 1.2% in the 1st quarter. Retirement Systems of Alabama now owns 178,542 shares of the oil and gas exploration company’s stock worth $4,756,000 after acquiring an additional 2,094 shares in the last quarter. Viking Fund Management LLC purchased a new stake in National-Oilwell Varco in the 1st quarter worth $2,930,000. Virtu Financial LLC increased its holdings in National-Oilwell Varco by 151.9% in the 1st quarter. Virtu Financial LLC now owns 30,768 shares of the oil and gas exploration company’s stock worth $820,000 after acquiring an additional 18,555 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new stake in National-Oilwell Varco in the 1st quarter worth $26,000. 93.47% of the stock is owned by institutional investors.

National-Oilwell Varco Company Profile

National Oilwell Varco, Inc designs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. It operates in three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. The Wellbore Technologies segment offers various equipment and technologies used to perform drilling operations.

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

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