Susquehanna Bancshares Boosts National-Oilwell Varco (NYSE:NOV) Price Target to $30.00

National-Oilwell Varco (NYSE:NOV) had its target price raised by Susquehanna Bancshares from $28.00 to $30.00 in a research report released on Monday, BenzingaRatingsTable reports. The firm currently has a positive rating on the oil and gas exploration company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Cowen upped their price target on shares of National-Oilwell Varco from $25.00 to $27.00 and gave the company a market perform rating in a report on Monday. Goldman Sachs Group upgraded shares of National-Oilwell Varco from a neutral rating to a buy rating and upped their price target for the company from $29.00 to $33.00 in a report on Wednesday, October 30th. AltaCorp Capital upgraded shares of National-Oilwell Varco from an underperform rating to a sector perform rating in a report on Wednesday, December 18th. Wells Fargo & Co upped their price target on shares of National-Oilwell Varco from $25.00 to $26.00 and gave the company an equal weight rating in a report on Monday. Finally, Evercore ISI started coverage on shares of National-Oilwell Varco in a report on Friday, February 7th. They set a buy rating and a $28.00 price target for the company. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company. National-Oilwell Varco has an average rating of Hold and a consensus price target of $26.75.

NYSE:NOV traded down $0.64 during trading hours on Monday, reaching $22.70. The company’s stock had a trading volume of 110,747 shares, compared to its average volume of 3,083,339. The company has a market cap of $8.88 billion, a price-to-earnings ratio of -1.42, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32. National-Oilwell Varco has a one year low of $18.05 and a one year high of $29.98. The business’s 50-day moving average is $23.36 and its 200-day moving average is $22.21. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.72 and a quick ratio of 1.74.

National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Thursday, February 6th. The oil and gas exploration company reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.84. National-Oilwell Varco had a negative net margin of 71.88% and a negative return on equity of 2.86%. The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.10 billion. On average, sell-side analysts predict that National-Oilwell Varco will post 0.75 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in NOV. Hotchkis & Wiley Capital Management LLC raised its position in shares of National-Oilwell Varco by 16.4% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 21,010,372 shares of the oil and gas exploration company’s stock valued at $526,310,000 after buying an additional 2,965,103 shares during the last quarter. Pzena Investment Management LLC raised its position in shares of National-Oilwell Varco by 8.0% during the fourth quarter. Pzena Investment Management LLC now owns 29,696,759 shares of the oil and gas exploration company’s stock valued at $743,904,000 after buying an additional 2,210,777 shares during the last quarter. Investec Asset Management LTD acquired a new position in shares of National-Oilwell Varco during the fourth quarter valued at about $43,103,000. Prudential Financial Inc. raised its position in shares of National-Oilwell Varco by 481.7% during the fourth quarter. Prudential Financial Inc. now owns 2,034,382 shares of the oil and gas exploration company’s stock valued at $50,961,000 after buying an additional 1,684,650 shares during the last quarter. Finally, Eagle Asset Management Inc. acquired a new position in shares of National-Oilwell Varco during the third quarter valued at about $35,345,000. 95.44% of the stock is owned by institutional investors and hedge funds.

About National-Oilwell Varco

National Oilwell Varco, Inc designs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. It operates in three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. The Wellbore Technologies segment offers various equipment and technologies used to perform drilling operations.

Featured Article: What is the Consumer Price Index (CPI)?

Analyst Recommendations for National-Oilwell Varco (NYSE:NOV)

Receive News & Ratings for National-Oilwell Varco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National-Oilwell Varco and related companies with MarketBeat.com's FREE daily email newsletter.