National Oilwell Varco, Inc. (NYSE:NOV) had its target price hoisted by equities researchers at Citigroup Inc. from $34.00 to $36.00 in a research note issued to investors on Thursday. The brokerage presently has a “neutral” rating on the oil and gas exploration company’s stock. Citigroup Inc.’s price objective suggests a potential upside of 2.19% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. ValuEngine cut shares of National Oilwell Varco from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Piper Jaffray Companies upgraded shares of National Oilwell Varco from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $36.00 to $37.00 in a research note on Tuesday, June 20th. Seaport Global Securities restated a “sell” rating on shares of National Oilwell Varco in a research note on Friday, July 28th. Zacks Investment Research cut shares of National Oilwell Varco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, BidaskClub upgraded shares of National Oilwell Varco from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. National Oilwell Varco presently has an average rating of “Hold” and a consensus target price of $38.71.

Shares of National Oilwell Varco (NYSE:NOV) traded up 1.320% during trading on Thursday, hitting $35.695. 458,802 shares of the stock were exchanged. The stock has a 50-day moving average of $32.87 and a 200 day moving average of $34.02. The stock’s market cap is $13.57 billion. National Oilwell Varco has a 12-month low of $29.90 and a 12-month high of $43.63.

National Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the previous year, the business earned ($0.30) earnings per share. The company’s revenue was up 2.0% on a year-over-year basis. Equities analysts predict that National Oilwell Varco will post ($0.41) earnings per share for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in National Oilwell Varco by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 38,794,232 shares of the oil and gas exploration company’s stock valued at $1,277,882,000 after acquiring an additional 930,849 shares in the last quarter. First Eagle Investment Management LLC grew its stake in National Oilwell Varco by 1.7% during the 2nd quarter. First Eagle Investment Management LLC now owns 26,505,005 shares of the oil and gas exploration company’s stock valued at $873,075,000 after acquiring an additional 452,148 shares in the last quarter. BlackRock Inc. grew its stake in National Oilwell Varco by 1.4% during the 2nd quarter. BlackRock Inc. now owns 25,195,874 shares of the oil and gas exploration company’s stock valued at $829,954,000 after acquiring an additional 354,574 shares in the last quarter. Harris Associates L P grew its stake in National Oilwell Varco by 16.0% during the 2nd quarter. Harris Associates L P now owns 18,574,753 shares of the oil and gas exploration company’s stock valued at $611,852,000 after acquiring an additional 2,557,484 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in National Oilwell Varco by 2.8% during the 1st quarter. Clearbridge Investments LLC now owns 13,209,045 shares of the oil and gas exploration company’s stock valued at $529,551,000 after acquiring an additional 359,809 shares in the last quarter. 90.29% of the stock is currently 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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