Argus Reiterates $46.00 Price Target for National-Oilwell Varco (NOV)

National-Oilwell Varco (NYSE:NOV) has been assigned a $46.00 target price by stock analysts at Argus in a report issued on Monday. The firm presently has a “buy” rating on the oil and gas exploration company’s stock. Argus’ price objective suggests a potential upside of 23.89% from the company’s previous close.

NOV has been the subject of several other reports. Morgan Stanley assumed coverage on shares of National-Oilwell Varco in a research note on Tuesday, September 18th. They set an “equal weight” rating and a $50.00 price objective for the company. Stifel Nicolaus assumed coverage on shares of National-Oilwell Varco in a research note on Monday, September 10th. They set a “buy” rating and a $54.00 price objective for the company. Credit Suisse Group set a $43.00 price objective on shares of National-Oilwell Varco and gave the stock a “hold” rating in a research note on Monday, July 30th. Barclays dropped their price objective on shares of National-Oilwell Varco from $44.00 to $40.00 and set a “hold” rating for the company in a research note on Monday. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $53.00 price objective on shares of National-Oilwell Varco in a research note on Monday, August 6th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. National-Oilwell Varco presently has an average rating of “Hold” and an average target price of $43.32.

NYSE NOV opened at $37.13 on Monday. 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 firm has a market cap of $13.73 billion, a price-to-earnings ratio of -88.40, a PEG 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 news, Director Eric L. Mattson sold 5,284 shares of National-Oilwell Varco stock in a transaction on Friday, August 24th. The stock was sold at an average price of $45.06, for a total transaction of $238,097.04. Following the completion of the sale, the director now directly owns 66,862 shares in the company, valued at $3,012,801.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eric L. Mattson sold 4,338 shares of National-Oilwell Varco stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $45.65, for a total value of $198,029.70. Following the sale, the director now owns 76,484 shares of the company’s stock, valued at $3,491,494.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,734 shares of company stock valued at $939,945. Corporate insiders own 0.79% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Parnassus Investments CA raised its holdings in shares of National-Oilwell Varco by 48.5% in the second quarter. Parnassus Investments CA now owns 10,325,152 shares of the oil and gas exploration company’s stock valued at $448,112,000 after acquiring an additional 3,374,289 shares in the last quarter. Pzena Investment Management LLC bought a new stake in shares of National-Oilwell Varco in the second quarter valued at about $191,593,000. Ruffer LLP bought a new stake in shares of National-Oilwell Varco in the second quarter valued at about $170,243,000. Dimensional Fund Advisors LP raised its holdings in shares of National-Oilwell Varco by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,484,553 shares of the oil and gas exploration company’s stock valued at $151,227,000 after acquiring an additional 28,498 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of National-Oilwell Varco by 0.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,822,519 shares of the oil and gas exploration company’s stock valued at $79,098,000 after acquiring an additional 16,649 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

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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