National-Oilwell Varco’s (NOV) Hold Rating Reiterated at Royal Bank of Canada

National-Oilwell Varco (NYSE:NOV)‘s stock had its “hold” rating restated by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Friday. They currently have a $40.00 price objective on the oil and gas exploration company’s stock. Royal Bank of Canada’s price target points to a potential upside of 5.32% from the stock’s current price.

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

National-Oilwell Varco (NYSE NOV) opened at $37.98 on Friday. National-Oilwell Varco has a fifty-two week low of $29.90 and a fifty-two week high of $41.90. The company has a market cap of $14,430.00, a price-to-earnings ratio of -15.31, a price-to-earnings-growth ratio of 18.73 and a beta of 0.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.75 and a quick ratio of 1.62.

National-Oilwell Varco (NYSE:NOV) last released 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 for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the company earned ($0.34) earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. equities research analysts predict that National-Oilwell Varco will post -0.4 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in NOV. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of National-Oilwell Varco in the third quarter valued at about $226,421,000. Harris Associates L P grew its stake in shares of National-Oilwell Varco by 16.0% in the second quarter. Harris Associates L P now owns 18,574,753 shares of the oil and gas exploration company’s stock valued at $611,852,000 after acquiring an additional 2,557,484 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in National-Oilwell Varco by 459.0% during the second quarter. The Manufacturers Life Insurance Company now owns 2,639,603 shares of the oil and gas exploration company’s stock worth $86,948,000 after purchasing an additional 2,167,397 shares during the period. Vanguard Group Inc. lifted its position in National-Oilwell Varco by 2.5% during the second quarter. Vanguard Group Inc. now owns 38,794,232 shares of the oil and gas exploration company’s stock worth $1,277,882,000 after purchasing an additional 930,849 shares during the period. Finally, Wells Fargo & Company MN lifted its position in National-Oilwell Varco by 17.1% during the third quarter. Wells Fargo & Company MN now owns 5,248,794 shares of the oil and gas exploration company’s stock worth $187,541,000 after purchasing an additional 765,634 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

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About National-Oilwell Varco

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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