Cowen Trims National-Oilwell Varco (NOV) Target Price to $42.00

National-Oilwell Varco (NYSE:NOV) had its price objective decreased by Cowen from $45.00 to $42.00 in a research note issued to investors on Monday, Marketbeat reports. Cowen currently has a market perform rating on the oil and gas exploration company’s stock.

A number of other research analysts have also issued reports on NOV. Piper Jaffray Companies set a $42.00 target price on shares of National-Oilwell Varco and gave the company a buy rating in a research note on Sunday. Royal Bank of Canada set a $43.00 target price on shares of National-Oilwell Varco and gave the company a hold rating in a research note on Sunday. ValuEngine lowered shares of National-Oilwell Varco from a buy rating to a hold rating in a research note on Wednesday, October 17th. Jefferies Financial Group set a $41.00 target price on shares of National-Oilwell Varco and gave the company a hold rating in a research note on Sunday. Finally, Seaport Global Securities reiterated a sell rating and issued a $37.00 target price on shares of National-Oilwell Varco in a research note on Tuesday, July 31st. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $43.32.

NYSE:NOV opened at $36.80 on Monday. National-Oilwell Varco has a 1 year low of $31.47 and a 1 year high of $49.08. The company has a current ratio of 3.17, a quick ratio of 1.78 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $13.76 billion, a P/E ratio of -87.62, a PEG ratio of 44.16 and a beta of 0.93.



In other National-Oilwell Varco news, Director Eric L. Mattson sold 5,284 shares of the stock in a transaction on Friday, August 24th. The shares were sold at an average price of $45.06, for a total value of $238,097.04. Following the completion of the sale, the director now directly owns 66,862 shares of the company’s stock, valued at approximately $3,012,801.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eric L. Mattson sold 11,112 shares of the stock in a transaction on Monday, August 27th. The shares were sold at an average price of $45.34, for a total transaction of $503,818.08. Following the completion of the sale, the director now directly owns 66,862 shares of the company’s stock, valued at $3,031,523.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,734 shares of company stock valued at $939,945. Insiders own 0.79% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Hutchinson Capital Management CA lifted its holdings in shares of National-Oilwell Varco by 1.5% during the 3rd quarter. Hutchinson Capital Management CA now owns 368,718 shares of the oil and gas exploration company’s stock worth $15,884,000 after acquiring an additional 5,310 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of National-Oilwell Varco by 185.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 232,549 shares of the oil and gas exploration company’s stock worth $10,018,000 after acquiring an additional 151,101 shares during the period. Arizona State Retirement System lifted its holdings in shares of National-Oilwell Varco by 1.3% during the 3rd quarter. Arizona State Retirement System now owns 203,208 shares of the oil and gas exploration company’s stock worth $8,754,000 after acquiring an additional 2,546 shares during the period. Adams Natural Resources Fund Inc. lifted its holdings in shares of National-Oilwell Varco by 146.6% during the 3rd quarter. Adams Natural Resources Fund Inc. now owns 109,000 shares of the oil and gas exploration company’s stock worth $4,696,000 after acquiring an additional 64,800 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of National-Oilwell Varco by 1,004.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 136,269 shares of the oil and gas exploration company’s stock worth $5,870,000 after acquiring an additional 123,929 shares during the period. 95.45% of the stock is owned by 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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