Standpoint Research Raises National-Oilwell Varco to Buy (NOV)
National-Oilwell Varco (NYSE: NOV) was upgraded by investment analysts at Standpoint Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $80.00 target price on the stock.
National-Oilwell Varco opened at 63.62 on Wednesday. National-Oilwell Varco has a 1-year low of $47.97 and a 1-year high of $87.72. The company has a market cap of $27.116 billion and a price-to-earnings ratio of 12.33.
National-Oilwell Varco last released its earnings data on Wednesday, April 25th. The company reported $1.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.39 by $0.05. National-Oilwell Varco’s revenue was up 36.8% compared to the same quarter last year. Analysts expect that National-Oilwell Varco will post $1.53 EPS next quarter.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of National-Oilwell Varco in a research note to investors on Monday, May 7th. They now have a $75.00 price target on the stock. Separately, analysts at Sterne Agee reiterated a “buy” rating on shares of National-Oilwell Varco in a research note to investors on Wednesday, April 11st. They now have a $93.00 price target on the stock, up previously from $89.00. Finally, analysts at Howard Weil downgraded shares of National-Oilwell Varco from an “outperform” rating to a “market perform” rating in a research note to investors on Monday, April 2nd. They now have a $87.00 price target on the stock.
National Oilwell Varco, Inc. (NOV) is a provider of equipment and components used in oil and gas drilling and production operations, oilfield services and supply chain integration services to the upstream oil and gas industry.