National Oilwell Varco, Inc. (NOV) Now Covered by Analysts at Deutsche Bank AG

Stock analysts at Deutsche Bank AG started coverage on shares of National Oilwell Varco, Inc. (NYSE:NOV) in a note issued to investors on Tuesday. The firm set a “hold” rating on the oil and gas exploration company’s stock.

Several other research firms have also recently weighed in on NOV. BMO Capital Markets reissued a “sell” rating and issued a $30.00 price objective on shares of National Oilwell Varco in a research report on Thursday, June 22nd. BidaskClub cut National Oilwell Varco from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. ValuEngine raised National Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. Credit Suisse Group set a $35.00 price objective on National Oilwell Varco and gave the stock a “hold” rating in a research report on Saturday, July 29th. Finally, FBR & Co reissued a “buy” rating and issued a $42.00 price objective on shares of National Oilwell Varco in a research report on Thursday, August 31st. Four equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. National Oilwell Varco currently has a consensus rating of “Hold” and an average target price of $38.59.

Shares of National Oilwell Varco (NOV) opened at 35.24 on Tuesday. National Oilwell Varco has a 1-year low of $29.90 and a 1-year high of $43.63. The company has a 50-day moving average price of $33.33 and a 200-day moving average price of $33.92. The company’s market cap is $13.39 billion.

National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.14). National Oilwell Varco had a negative return on equity of 2.12% and a negative net margin of 33.24%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. Equities research analysts expect that National Oilwell Varco will post ($0.41) earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cleararc Capital Inc. increased its stake in National Oilwell Varco by 0.7% in the 1st quarter. Cleararc Capital Inc. now owns 9,243 shares of the oil and gas exploration company’s stock worth $371,000 after acquiring an additional 65 shares during the last quarter. Fernwood Investment Management LLC increased its stake in National Oilwell Varco by 0.6% in the 2nd quarter. Fernwood Investment Management LLC now owns 15,765 shares of the oil and gas exploration company’s stock worth $519,000 after acquiring an additional 100 shares during the last quarter. CIBC Asset Management Inc increased its stake in National Oilwell Varco by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 36,365 shares of the oil and gas exploration company’s stock worth $1,198,000 after acquiring an additional 113 shares during the last quarter. Cadence Capital Management LLC increased its stake in National Oilwell Varco by 1.0% in the 2nd quarter. Cadence Capital Management LLC now owns 14,143 shares of the oil and gas exploration company’s stock worth $466,000 after acquiring an additional 143 shares durin

Several other research firms have also recently weighed in on NOV. BMO Capital Markets reissued a “sell” rating and issued a $30.00 price objective on shares of National Oilwell Varco in a research report on Thursday, June 22nd. BidaskClub cut National Oilwell Varco from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. ValuEngine raised National Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. Credit Suisse Group set a $35.00 price objective on National Oilwell Varco and gave the stock a “hold” rating in a research report on Saturday, July 29th. Finally, FBR & Co reissued a “buy” rating and issued a $42.00 price objective on shares of National Oilwell Varco in a research report on Thursday, August 31st. Four equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. National Oilwell Varco currently has a consensus rating of “Hold” and an average target price of $38.59.

Shares of National Oilwell Varco (NOV) opened at 35.24 on Tuesday. National Oilwell Varco has a 1-year low of $29.90 and a 1-year high of $43.63. The company has a 50-day moving average price of $33.33 and a 200-day moving average price of $33.92. The company’s market cap is $13.39 billion.

National Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.14). National Oilwell Varco had a negative return on equity of 2.12% and a negative net margin of 33.24%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. Equities research analysts expect that National Oilwell Varco will post ($0.41) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “National Oilwell Varco, Inc. (NOV) Now Covered by Analysts at Deutsche Bank AG” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark law. The original version of this news story can be read at https://ledgergazette.com/2017/10/10/national-oilwell-varco-inc-nov-now-covered-by-analysts-at-deutsche-bank-ag.html.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cleararc Capital Inc. increased its stake in National Oilwell Varco by 0.7% in the 1st quarter. Cleararc Capital Inc. now owns 9,243 shares of the oil and gas exploration company’s stock worth $371,000 after acquiring an additional 65 shares during the last quarter. Fernwood Investment Management LLC increased its stake in National Oilwell Varco by 0.6% in the 2nd quarter. Fernwood Investment Management LLC now owns 15,765 shares of the oil and gas exploration company’s stock worth $519,000 after acquiring an additional 100 shares during the last quarter. CIBC Asset Management Inc increased its stake in National Oilwell Varco by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 36,365 shares of the oil and gas exploration company’s stock worth $1,198,000 after acquiring an additional 113 shares during the last quarter. Cadence Capital Management LLC increased its stake in National Oilwell Varco by 1.0% in the 2nd quarter. Cadence Capital Management LLC now owns 14,143 shares of the oil and gas exploration company’s stock worth $466,000 after acquiring an additional 143 shares during the last quarter. Finally, Peddock Capital Advisors LLC increased its stake in National Oilwell Varco by 1.7% in the 2nd quarter. Peddock Capital Advisors LLC now owns 9,188 shares of the oil and gas exploration company’s stock worth $303,000 after acquiring an additional 150 shares during the last quarter. Institutional investors and hedge funds own 90.29% of the company’s stock.

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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