National-Oilwell Varco (NOV) PT Set at $31.00 by Citigroup

Citigroup set a $31.00 target price on National-Oilwell Varco (NYSE:NOV) in a research report report published on Wednesday morning, Stock Target Advisor reports. The firm currently has a hold rating on the oil and gas exploration company’s stock.

NOV has been the subject of a number of other reports. SunTrust Banks cut their target price on National-Oilwell Varco to $24.00 and set a hold rating for the company in a research report on Tuesday, April 16th. Barclays set a $32.00 target price on National-Oilwell Varco and gave the company a hold rating in a research report on Saturday, February 9th. Raymond James cut their target price on National-Oilwell Varco from $40.00 to $35.00 and set an outperform rating for the company in a research report on Monday, April 15th. Gabelli reiterated a buy rating on shares of National-Oilwell Varco in a research report on Monday, February 11th. Finally, Seaport Global Securities reissued a sell rating and set a $24.00 price target on shares of National-Oilwell Varco in a report on Monday, February 11th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $38.08.

Shares of NYSE:NOV traded down $0.21 during trading on Wednesday, reaching $24.90. 5,086,292 shares of the company traded hands, compared to its average volume of 4,782,645. The company has a market cap of $9.69 billion, a price-to-earnings ratio of -311.25 and a beta of 1.20. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.81 and a current ratio of 3.30. National-Oilwell Varco has a 52 week low of $24.04 and a 52 week high of $49.08.

National-Oilwell Varco (NYSE:NOV) last released its earnings results on Thursday, April 25th. The oil and gas exploration company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12). The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.99 billion. National-Oilwell Varco had a negative net margin of 0.47% and a negative return on equity of 0.29%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.18) earnings per share. Research analysts predict that National-Oilwell Varco will post -0.14 EPS for the current fiscal year.

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

A number of institutional investors and hedge funds have recently modified their holdings of NOV. Truvestments Capital LLC acquired a new position in National-Oilwell Varco in the 1st quarter worth about $26,000. JOYN Advisors Inc. increased its stake in shares of National-Oilwell Varco by 166.2% in the fourth quarter. JOYN Advisors Inc. now owns 1,046 shares of the oil and gas exploration company’s stock valued at $27,000 after buying an additional 653 shares during the period. Enlightenment Research LLC acquired a new stake in shares of National-Oilwell Varco in the fourth quarter valued at about $28,000. Moody National Bank Trust Division increased its stake in shares of National-Oilwell Varco by 125.0% in the first quarter. Moody National Bank Trust Division now owns 1,233 shares of the oil and gas exploration company’s stock valued at $33,000 after buying an additional 685 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of National-Oilwell Varco by 2,438.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,065,034 shares of the oil and gas exploration company’s stock valued at $41,000 after buying an additional 1,023,079 shares during the period. 92.73% of the stock is owned by institutional investors and hedge funds.

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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