National-Oilwell Varco (NOV) PT Set at $42.00 by Piper Jaffray Companies

National-Oilwell Varco (NYSE:NOV) has been given a $42.00 price objective by research analysts at Piper Jaffray Companies in a research report issued to clients and investors on Sunday. The firm currently has a “buy” rating on the oil and gas exploration company’s stock. Piper Jaffray Companies’ price target would suggest a potential upside of 19.62% from the company’s previous close.

A number of other analysts have also recently issued reports on the stock. Seaport Global Securities set a $31.00 target price on shares of National-Oilwell Varco and gave the stock a “sell” rating in a research note on Monday. Jefferies Financial Group raised their target price on shares of National-Oilwell Varco from $42.00 to $46.00 and gave the stock a “hold” rating in a research note on Thursday, October 18th. ValuEngine cut shares of National-Oilwell Varco from a “buy” rating to a “hold” rating in a research note on Wednesday, October 17th. Cowen reaffirmed a “hold” rating and set a $45.00 price target on shares of National-Oilwell Varco in a research report on Friday, October 12th. Finally, Wolfe Research began coverage on shares of National-Oilwell Varco in a research report on Wednesday, October 10th. They set a “peer perform” rating on the stock. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $42.41.

NYSE NOV opened at $35.11 on Friday. The company has a quick ratio of 1.78, a current ratio of 3.17 and a debt-to-equity ratio of 0.19. The stock has a market cap of $13.73 billion, a PE ratio of -83.60, a P/E/G ratio of 45.14 and a beta of 0.93. National-Oilwell Varco has a 52-week low of $31.47 and a 52-week high of $49.08.



In other National-Oilwell Varco news, Chairman Clay C. Williams sold 465,116 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $47.91, for a total value of $22,283,707.56. Following the transaction, the chairman now directly owns 811,642 shares of the company’s stock, valued at approximately $38,885,768.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eric L. Mattson sold 5,284 shares of the firm’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $45.06, for a total transaction of $238,097.04. Following the completion of the transaction, the director now directly owns 66,862 shares in the company, valued at $3,012,801.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 510,850 shares of company stock worth $24,409,902. Insiders own 0.79% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in NOV. Summit Trail Advisors LLC increased its holdings in National-Oilwell Varco by 29.7% in the 1st quarter. Summit Trail Advisors LLC now owns 19,215 shares of the oil and gas exploration company’s stock valued at $515,000 after buying an additional 4,395 shares during the period. Allianz Asset Management GmbH increased its holdings in National-Oilwell Varco by 26.6% in the 1st quarter. Allianz Asset Management GmbH now owns 647,922 shares of the oil and gas exploration company’s stock valued at $23,850,000 after buying an additional 136,046 shares during the period. Gulf International Bank UK Ltd increased its holdings in National-Oilwell Varco by 4.2% in the 2nd quarter. Gulf International Bank UK Ltd now owns 123,104 shares of the oil and gas exploration company’s stock valued at $5,342,000 after buying an additional 5,000 shares during the period. IFM Investors Pty Ltd increased its holdings in National-Oilwell Varco by 37.9% in the 2nd quarter. IFM Investors Pty Ltd now owns 17,957 shares of the oil and gas exploration company’s stock valued at $779,000 after buying an additional 4,934 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in National-Oilwell Varco by 16.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 77,868 shares of the oil and gas exploration company’s stock valued at $3,378,000 after buying an additional 11,230 shares during the period. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

About National-Oilwell Varco

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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