NOV (NYSE:NOV) Stock Rating Upgraded by Capital One Financial

NOV (NYSE:NOV) was upgraded by equities researchers at Capital One Financial from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Thursday, Marketbeat reports. The brokerage presently has a $26.00 target price on the oil and gas exploration company’s stock. Capital One Financial‘s target price points to a potential upside of 24.56% from the company’s previous close.

A number of other research firms have also weighed in on NOV. Morgan Stanley increased their price target on NOV from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 15th. TD Cowen upgraded NOV from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of NOV in a report on Friday, March 27th. Citigroup lifted their target price on shares of NOV from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 11th. Finally, Barclays restated an “underweight” rating and set a $21.00 price target (up from $20.00) on shares of NOV in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $19.73.

NOV Stock Up 2.1%

NOV stock opened at $20.87 on Thursday. The firm has a market cap of $7.49 billion, a PE ratio of 86.97 and a beta of 0.89. NOV has a 12 month low of $11.77 and a 12 month high of $21.38. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.47 and a quick ratio of 1.66. The firm has a 50 day simple moving average of $19.92 and a 200 day simple moving average of $18.38.

NOV (NYSE:NOV) last posted its quarterly earnings results on Tuesday, April 28th. The oil and gas exploration company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.12). The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.05 billion. NOV had a return on equity of 3.34% and a net margin of 1.05%.The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.19 EPS. Equities research analysts forecast that NOV will post 0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NOV

A number of institutional investors have recently modified their holdings of NOV. V Square Quantitative Management LLC purchased a new position in NOV in the fourth quarter valued at about $28,000. Root Financial Partners LLC raised its stake in shares of NOV by 39.9% during the 1st quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company’s stock worth $36,000 after purchasing an additional 552 shares in the last quarter. Altshuler Shaham Ltd lifted its holdings in shares of NOV by 36.8% during the 1st quarter. Altshuler Shaham Ltd now owns 2,030 shares of the oil and gas exploration company’s stock valued at $38,000 after buying an additional 546 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of NOV during the 1st quarter valued at about $40,000. Finally, CIBC Private Wealth Group LLC grew its stake in shares of NOV by 659.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company’s stock valued at $36,000 after buying an additional 1,978 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

About NOV

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.