National-Oilwell Varco (NOV) PT Lowered to $35.00 at Raymond James

National-Oilwell Varco (NYSE:NOV) had its target price lowered by Raymond James from $40.00 to $35.00 in a report issued on Monday, BenzingaRatingsTable reports. The firm presently has an “outperform” rating on the oil and gas exploration company’s stock. Raymond James’ target price would indicate a potential upside of 24.25% from the company’s previous close.

A number of other research firms have also recently commented on NOV. Barclays reaffirmed a “hold” rating and issued a $35.00 target price on shares of National-Oilwell Varco in a research report on Friday, January 18th. Zacks Investment Research raised shares of National-Oilwell Varco from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Gabelli reaffirmed a “buy” rating on shares of National-Oilwell Varco in a research report on Monday, February 11th. Seaport Global Securities reaffirmed a “sell” rating and issued a $24.00 target price on shares of National-Oilwell Varco in a research report on Monday, February 11th. Finally, SunTrust Banks decreased their target price on shares of National-Oilwell Varco to $29.00 and set a “hold” rating on the stock in a research report on Monday, February 11th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $38.21.

Shares of NOV stock traded up $1.30 on Monday, hitting $28.17. 263,659 shares of the stock traded hands, compared to its average volume of 3,510,999. The company has a current ratio of 3.11, a quick ratio of 1.83 and a debt-to-equity ratio of 0.19. The stock has a market cap of $11.25 billion, a price-to-earnings ratio of -352.13, a PEG ratio of 25.81 and a beta of 1.22. 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 announced its quarterly earnings results on Wednesday, February 6th. The oil and gas exploration company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.05). The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.18 billion. National-Oilwell Varco had a negative net margin of 0.37% and a negative return on equity of 0.22%. The company’s revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) EPS. As a group, equities research analysts predict that National-Oilwell Varco will post 0.19 EPS for the current year.

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

Hedge funds have recently added to or reduced their stakes in the stock. Truvestments Capital LLC purchased a new stake in shares of National-Oilwell Varco during the first quarter worth approximately $26,000. IMS Capital Management purchased a new stake in shares of National-Oilwell Varco during the third quarter worth approximately $44,000. JOYN Advisors Inc. increased its stake in shares of National-Oilwell Varco by 166.2% during the fourth quarter. JOYN Advisors Inc. now owns 1,046 shares of the oil and gas exploration company’s stock worth $27,000 after buying an additional 653 shares during the period. Enlightenment Research LLC purchased a new stake in shares of National-Oilwell Varco during the fourth quarter worth approximately $28,000. Finally, Moody National Bank Trust Division increased its stake in shares of National-Oilwell Varco by 125.0% during the first quarter. Moody National Bank Trust Division now owns 1,233 shares of the oil and gas exploration company’s stock worth $33,000 after buying an additional 685 shares during the period. Hedge funds and other institutional investors own 93.47% of the company’s stock.

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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