Cowen Increases National-Oilwell Varco (NYSE:NOV) Price Target to $16.00

National-Oilwell Varco (NYSE:NOV) had its target price lifted by Cowen from $15.00 to $16.00 in a research report sent to investors on Wednesday, Briefing.com Automated Import reports. Cowen currently has an outperform rating on the oil and gas exploration company’s stock.

Several other research firms have also issued reports on NOV. Raymond James increased their price objective on National-Oilwell Varco from $11.00 to $14.00 and gave the stock an outperform rating in a research note on Wednesday, April 29th. Stifel Nicolaus dropped their price objective on National-Oilwell Varco from $18.00 to $16.00 and set a buy rating for the company in a research note on Wednesday, April 29th. Piper Sandler dropped their price objective on National-Oilwell Varco from $11.00 to $9.00 and set a neutral rating for the company in a research note on Wednesday, April 29th. Barclays lowered National-Oilwell Varco from an overweight rating to an equal weight rating and lowered their target price for the company from $14.00 to $8.00 in a research note on Thursday, May 14th. They noted that the move was a valuation call. Finally, Sanford C. Bernstein upgraded National-Oilwell Varco from a market perform rating to an outperform rating in a research note on Monday, April 6th. Eleven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $17.91.

Shares of NOV stock opened at $11.51 on Wednesday. The stock has a market cap of $4.47 billion, a P/E ratio of -1.59 and a beta of 1.81. National-Oilwell Varco has a one year low of $8.00 and a one year high of $25.81. The stock has a fifty day moving average price of $11.99 and a 200 day moving average price of $14.70. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.86 and a quick ratio of 1.79.

National-Oilwell Varco (NYSE:NOV) last issued its earnings results on Monday, July 27th. The oil and gas exploration company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.15. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.53 billion. National-Oilwell Varco had a negative return on equity of 2.32% and a negative net margin of 35.56%. National-Oilwell Varco’s quarterly revenue was down 29.8% compared to the same quarter last year. During the same period last year, the business earned $0.02 earnings per share. Equities research analysts anticipate that National-Oilwell Varco will post -0.19 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its stake in National-Oilwell Varco by 111.4% in the 1st quarter. First Trust Advisors LP now owns 127,021 shares of the oil and gas exploration company’s stock valued at $3,384,000 after acquiring an additional 66,949 shares in the last quarter. Captrust Financial Advisors lifted its stake in National-Oilwell Varco by 19.2% in the 4th quarter. Captrust Financial Advisors now owns 9,835 shares of the oil and gas exploration company’s stock valued at $248,000 after acquiring an additional 1,585 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in National-Oilwell Varco in the 4th quarter valued at approximately $30,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in National-Oilwell Varco by 36.1% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 23,888 shares of the oil and gas exploration company’s stock valued at $595,000 after acquiring an additional 6,334 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in National-Oilwell Varco by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 5,957,359 shares of the oil and gas exploration company’s stock valued at $148,928,000 after acquiring an additional 240,076 shares in the last quarter. Institutional investors and hedge funds own 95.83% of the company’s stock.

About National-Oilwell Varco

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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