National-Oilwell Varco (NOV) PT Set at $52.00 by Piper Jaffray Companies

National-Oilwell Varco (NYSE:NOV) has been assigned a $52.00 price target by analysts at Piper Jaffray Companies in a report issued on Thursday, September 20th. The brokerage currently has a “buy” rating on the oil and gas exploration company’s stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 24.08% from the company’s previous close. Piper Jaffray Companies also issued estimates for National-Oilwell Varco’s Q1 2019 earnings at $0.17 EPS, Q2 2019 earnings at $0.26 EPS, Q3 2019 earnings at $0.32 EPS, Q4 2019 earnings at $0.42 EPS, FY2019 earnings at $1.16 EPS, FY2020 earnings at $2.27 EPS and FY2021 earnings at $3.26 EPS.

NOV has been the subject of a number of other reports. Morgan Stanley started coverage on shares of National-Oilwell Varco in a research note on Tuesday, September 18th. They set an “equal weight” rating and a $50.00 price objective for the company. Credit Suisse Group set a $43.00 price objective on shares of National-Oilwell Varco and gave the stock a “hold” rating in a research note on Monday, July 30th. Stifel Nicolaus started coverage on shares of National-Oilwell Varco in a research note on Monday, September 10th. They set a “buy” rating and a $54.00 price objective for the company. R. F. Lafferty raised shares of National-Oilwell Varco from a “hold” rating to a “buy” rating and raised their price objective for the stock from $41.00 to $51.00 in a research note on Tuesday, August 21st. Finally, Edward Jones cut shares of National-Oilwell Varco from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the stock. National-Oilwell Varco has a consensus rating of “Hold” and an average target price of $44.32.

NYSE:NOV traded up $0.01 during mid-day trading on Thursday, reaching $41.91. The stock had a trading volume of 3,157,276 shares, compared to its average volume of 3,132,769. The company has a quick ratio of 1.75, a current ratio of 3.19 and a debt-to-equity ratio of 0.19. The company has a market cap of $16.48 billion, a P/E ratio of -99.79, a PEG ratio of 46.67 and a beta of 0.93. National-Oilwell Varco has a twelve month low of $31.47 and a twelve month high of $49.08.

National-Oilwell Varco (NYSE:NOV) last issued its earnings results on Thursday, July 26th. The oil and gas exploration company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.04. National-Oilwell Varco had a negative net margin of 1.09% and a negative return on equity of 0.60%. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same period last year, the company posted ($0.14) earnings per share. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. Analysts expect that National-Oilwell Varco will post 0.15 EPS for the current year.

In related news, VP Craig L. Weinstock sold 3,709 shares of National-Oilwell Varco stock in a transaction on Monday, July 30th. The shares were sold at an average price of $48.02, for a total transaction of $178,106.18. Following the transaction, the vice president now owns 42,663 shares in the company, valued at approximately $2,048,677.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric L. Mattson sold 4,338 shares of the business’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $45.65, for a total transaction of $198,029.70. Following the completion of the transaction, the director now owns 76,484 shares in the company, valued at approximately $3,491,494.60. The disclosure for this sale can be found here. Insiders have sold a total of 514,559 shares of company stock worth $24,588,009 in the last 90 days. Company insiders own 0.79% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Independent Order of Foresters increased its stake in shares of National-Oilwell Varco by 19.7% during the 2nd quarter. Independent Order of Foresters now owns 7,281 shares of the oil and gas exploration company’s stock worth $316,000 after purchasing an additional 1,200 shares during the last quarter. State Treasurer State of Michigan increased its stake in shares of National-Oilwell Varco by 1.1% during the 2nd quarter. State Treasurer State of Michigan now owns 113,078 shares of the oil and gas exploration company’s stock worth $4,908,000 after purchasing an additional 1,200 shares during the last quarter. Whittier Trust Co. boosted its holdings in shares of National-Oilwell Varco by 180.6% during the 2nd quarter. Whittier Trust Co. now owns 2,455 shares of the oil and gas exploration company’s stock worth $202,000 after buying an additional 1,580 shares during the period. MUFG Americas Holdings Corp boosted its holdings in shares of National-Oilwell Varco by 29.8% during the 2nd quarter. MUFG Americas Holdings Corp now owns 7,183 shares of the oil and gas exploration company’s stock worth $312,000 after buying an additional 1,650 shares during the period. Finally, Dupont Capital Management Corp boosted its holdings in shares of National-Oilwell Varco by 55.9% during the 2nd quarter. Dupont Capital Management Corp now owns 4,960 shares of the oil and gas exploration company’s stock worth $215,000 after buying an additional 1,779 shares during the period. Hedge funds and other institutional investors own 95.63% of the company’s stock.

National-Oilwell Varco Company Profile

National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

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

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