NOV (NYSE:NOV – Get Free Report) was upgraded by research analysts at Capital One Financial from an “equal weight” rating to an “overweight” rating in a research note issued on Thursday, MarketBeat reports. The firm presently has a $26.00 target price on the oil and gas exploration company’s stock. Capital One Financial‘s price objective would suggest a potential upside of 24.56% from the company’s previous close.
NOV has been the topic of several other reports. Evercore upgraded shares of NOV to a “hold” rating in a research report on Wednesday, April 29th. Royal Bank Of Canada upped their target price on shares of NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. Susquehanna raised their price target on shares of NOV from $22.00 to $24.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Barclays reiterated an “underweight” rating and set a $21.00 price objective (up from $20.00) on shares of NOV in a research report on Thursday, May 7th. Finally, Morgan Stanley increased their price objective on NOV from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.73.
View Our Latest Stock Report on NOV
NOV Trading Up 2.1%
NOV (NYSE:NOV – Get Free Report) last posted its earnings results on Tuesday, April 28th. The oil and gas exploration company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.12). The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.05 billion. NOV had a net margin of 1.05% and a return on equity of 3.34%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 earnings per share. Equities research analysts predict that NOV will post 0.91 EPS for the current year.
Institutional Trading of NOV
A number of institutional investors have recently made changes to their positions in the stock. Monaco Asset Management SAM acquired a new stake in NOV in the third quarter worth approximately $4,969,000. American Century Companies Inc. increased its position in shares of NOV by 43.6% during the 3rd quarter. American Century Companies Inc. now owns 7,596,504 shares of the oil and gas exploration company’s stock valued at $100,654,000 after purchasing an additional 2,304,975 shares during the period. GSA Capital Partners LLP raised its stake in shares of NOV by 417.4% in the 3rd quarter. GSA Capital Partners LLP now owns 203,251 shares of the oil and gas exploration company’s stock worth $2,693,000 after buying an additional 163,965 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of NOV by 32.1% in the third quarter. Citigroup Inc. now owns 357,529 shares of the oil and gas exploration company’s stock valued at $4,737,000 after buying an additional 86,854 shares during the period. Finally, Oldfield Partners LLP lifted its holdings in shares of NOV by 5.8% in the fourth quarter. Oldfield Partners LLP now owns 5,045,332 shares of the oil and gas exploration company’s stock valued at $78,859,000 after buying an additional 276,961 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.
NOV Company Profile
National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.
NOV’s business is organized to serve upstream energy companies around the world.
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