Susquehanna Bancshares Analysts Give National-Oilwell Varco (NOV) a $35.00 Price Target

National-Oilwell Varco (NYSE:NOV) received a $35.00 target price from stock analysts at Susquehanna Bancshares in a report released on Friday. The firm presently has a “hold” rating on the oil and gas exploration company’s stock. Susquehanna Bancshares’ price target points to a potential downside of 10.58% from the stock’s current price.

NOV has been the subject of several other research reports. Cowen set a $33.00 price objective on shares of National-Oilwell Varco and gave the company a “hold” rating in a research note on Thursday. Scotiabank set a $37.00 price objective on shares of National-Oilwell Varco and gave the company a “hold” rating in a research note on Friday, October 27th. Jefferies Group set a $35.00 price objective on shares of National-Oilwell Varco and gave the company a “hold” rating in a research note on Thursday, January 4th. Capital One Financial reiterated an “equal weight” rating on shares of National-Oilwell Varco in a research note on Friday, October 27th. Finally, R. F. Lafferty reduced their price objective on shares of National-Oilwell Varco from $33.00 to $31.00 and set a “hold” rating for the company in a research note on Monday, November 6th. Four equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $38.04.

Shares of National-Oilwell Varco (NOV) opened at $39.14 on Friday. The company has a quick ratio of 1.62, a current ratio of 2.75 and a debt-to-equity ratio of 0.19. National-Oilwell Varco has a 52 week low of $29.90 and a 52 week high of $41.90. The company has a market cap of $14,874.45, a PE ratio of -15.72, a P/E/G ratio of 21.18 and a beta of 0.95.

National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. National-Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the business earned ($0.34) earnings per share. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. research analysts forecast that National-Oilwell Varco will post -0.41 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in NOV. Chevy Chase Trust Holdings Inc. grew its holdings in shares of National-Oilwell Varco by 1.2% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 481,830 shares of the oil and gas exploration company’s stock worth $17,216,000 after buying an additional 5,641 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of National-Oilwell Varco by 4.7% during the third quarter. California Public Employees Retirement System now owns 1,211,321 shares of the oil and gas exploration company’s stock worth $43,280,000 after buying an additional 54,039 shares in the last quarter. Swiss National Bank grew its holdings in shares of National-Oilwell Varco by 1.4% during the third quarter. Swiss National Bank now owns 1,399,047 shares of the oil and gas exploration company’s stock worth $49,988,000 after buying an additional 19,100 shares in the last quarter. Glenview Trust Co grew its holdings in shares of National-Oilwell Varco by 4.0% during the second quarter. Glenview Trust Co now owns 245,030 shares of the oil and gas exploration company’s stock worth $8,071,000 after buying an additional 9,382 shares in the last quarter. Finally, Shell Asset Management Co. grew its holdings in shares of National-Oilwell Varco by 163.9% during the third quarter. Shell Asset Management Co. now owns 64,296 shares of the oil and gas exploration company’s stock worth $4,893,000 after buying an additional 39,934 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

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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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