National Oilwell Varco, Inc. (NYSE:NOV) Given a $35.00 Price Target by Credit Suisse Group Analysts

Credit Suisse Group set a $35.00 target price on National Oilwell Varco, Inc. (NYSE:NOV) in a research note issued to investors on Saturday, July 29th. The brokerage currently has a hold rating on the oil and gas exploration company’s stock.

Several other research firms have also issued reports on NOV. Vetr upgraded shares of National Oilwell Varco from a buy rating to a strong-buy rating and set a $45.50 price target for the company in a research report on Monday, April 3rd. Jefferies Group LLC restated a hold rating and set a $36.00 price target on shares of National Oilwell Varco in a research report on Tuesday, April 11th. R. F. Lafferty initiated coverage on shares of National Oilwell Varco in a report on Thursday, April 6th. They set a hold rating and a $39.00 target price for the company. BMO Capital Markets set a $30.00 target price on shares of National Oilwell Varco and gave the stock a sell rating in a report on Wednesday, April 12th. Finally, Zacks Investment Research lowered shares of National Oilwell Varco from a hold rating to a sell rating in a report on Tuesday, April 18th. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. National Oilwell Varco has a consensus rating of Hold and an average target price of $38.63.

National Oilwell Varco (NYSE:NOV) opened at 30.38 on Friday. National Oilwell Varco has a one year low of $29.90 and a one year high of $43.63. The firm’s market capitalization is $11.55 billion. The firm’s 50-day moving average price is $32.47 and its 200 day moving average price is $35.46.

National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.14). National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the business posted ($0.30) earnings per share. The company’s revenue was up 2.0% on a year-over-year basis. On average, equities analysts anticipate that National Oilwell Varco will post ($0.39) earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Thursday, September 14th. National Oilwell Varco’s dividend payout ratio (DPR) is currently -3.31%.

Large investors have recently made changes to their positions in the stock. IHT Wealth Management LLC increased its stake in shares of National Oilwell Varco by 1,923.1% in the second quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock valued at $112,000 after buying an additional 500 shares during the period. FNY Partners Fund LP purchased a new stake in shares of National Oilwell Varco during the first quarter valued at $120,000. Quadrant Capital Group LLC increased its stake in shares of National Oilwell Varco by 6.8% in the first quarter. Quadrant Capital Group LLC now owns 3,214 shares of the oil and gas exploration company’s stock valued at $122,000 after buying an additional 205 shares during the period. Exane Derivatives increased its stake in shares of National Oilwell Varco by 113.8% in the second quarter. Exane Derivatives now owns 3,985 shares of the oil and gas exploration company’s stock valued at $131,000 after buying an additional 2,121 shares during the period. Finally, WMS Partners LLC purchased a new stake in shares of National Oilwell Varco during the first quarter valued at $200,000. 91.63% of the stock is owned by institutional investors.

National Oilwell Varco Company Profile

National Oilwell Varco, Inc is an oilfield equipment manufacturer and technology provider. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies and Completion & Production Solutions. The Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore.

Analyst Recommendations for National Oilwell Varco (NYSE:NOV)

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