National-Oilwell Varco (NYSE:NOV) Upgraded to Hold by ValuEngine

ValuEngine upgraded shares of National-Oilwell Varco (NYSE:NOV) from a sell rating to a hold rating in a research report sent to investors on Thursday, ValuEngine reports.

Other research analysts have also recently issued research reports about the company. Seaport Global Securities raised National-Oilwell Varco from a sell rating to a neutral rating in a research note on Wednesday. Citigroup raised National-Oilwell Varco from a neutral rating to a buy rating and increased their price target for the stock from $23.00 to $28.00 in a research note on Wednesday. Johnson Rice cut National-Oilwell Varco from a buy rating to a hold rating and set a $25.00 price target for the company. in a research note on Monday, July 15th. Barclays decreased their price target on National-Oilwell Varco from $32.00 to $28.00 and set an equal weight rating for the company in a research note on Monday, April 15th. Finally, Cowen reissued a market perform rating and issued a $27.00 price target (up previously from $25.00) on shares of National-Oilwell Varco in a research note on Wednesday. Five equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the stock. National-Oilwell Varco currently has an average rating of Hold and an average target price of $35.08.

NYSE NOV traded down $0.35 during trading hours on Thursday, hitting $22.09. The company had a trading volume of 7,434,630 shares, compared to its average volume of 4,792,809. National-Oilwell Varco has a fifty-two week low of $19.57 and a fifty-two week high of $47.48. The company has a current ratio of 3.05, a quick ratio of 1.81 and a debt-to-equity ratio of 0.29. The business has a fifty day moving average of $21.56. The company has a market cap of $9.19 billion, a price-to-earnings ratio of -276.13 and a beta of 1.30.

National-Oilwell Varco (NYSE:NOV) last issued its earnings results on Monday, July 29th. The oil and gas exploration company reported ($0.04) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.03. National-Oilwell Varco had a negative return on equity of 0.64% and a negative net margin of 63.23%. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.08 billion. On average, equities research analysts expect that National-Oilwell Varco will post -0.06 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Truvestments Capital LLC acquired a new stake in shares of National-Oilwell Varco during the 1st quarter worth approximately $26,000. TRUE Private Wealth Advisors acquired a new stake in shares of National-Oilwell Varco during the 2nd quarter worth approximately $26,000. Berman Capital Advisors LLC grew its holdings in shares of National-Oilwell Varco by 385.0% during the 2nd quarter. Berman Capital Advisors LLC now owns 1,387 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 1,101 shares in the last quarter. Investors Research Corp grew its holdings in shares of National-Oilwell Varco by 250.0% during the 2nd quarter. Investors Research Corp now owns 1,400 shares of the oil and gas exploration company’s stock worth $31,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Moody National Bank Trust Division grew its holdings in shares of National-Oilwell Varco by 125.0% during the 1st quarter. Moody National Bank Trust Division now owns 1,233 shares of the oil and gas exploration company’s stock worth $33,000 after purchasing an additional 685 shares in the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

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.

Featured Story: Penny Stocks

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for National-Oilwell Varco (NYSE:NOV)

Receive News & Ratings for National-Oilwell Varco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National-Oilwell Varco and related companies with MarketBeat.com's FREE daily email newsletter.