National-Oilwell Varco (NOV) Given a $38.00 Price Target by BMO Capital Markets Analysts

BMO Capital Markets set a $38.00 price target on National-Oilwell Varco (NYSE:NOV) in a report released on Monday. The brokerage currently has a sell rating on the oil and gas exploration company’s stock.

Several other research firms have also issued reports on NOV. Seaport Global Securities restated a sell rating and set a $37.00 price target on shares of National-Oilwell Varco in a research report on Tuesday, July 31st. Citigroup raised their price target on National-Oilwell Varco from $45.00 to $49.00 and gave the stock a neutral rating in a research report on Tuesday, July 31st. Barclays raised their price target on National-Oilwell Varco from $37.00 to $44.00 and gave the stock a hold rating in a research report on Monday, July 30th. Susquehanna Bancshares set a $45.00 price target on National-Oilwell Varco and gave the stock a hold rating in a research report on Monday, July 30th. Finally, Jefferies Financial Group restated a hold rating and set a $42.00 price target on shares of National-Oilwell Varco in a research report on Monday, July 30th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the company’s stock. National-Oilwell Varco currently has a consensus rating of Hold and a consensus target price of $43.27.

NOV opened at $35.68 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.78 and a current ratio of 3.17. National-Oilwell Varco has a 1 year low of $31.47 and a 1 year high of $49.08. The company has a market cap of $14.13 billion, a P/E ratio of -84.95 and a beta of 1.03.

National-Oilwell Varco declared that its board has approved a share buyback plan on Tuesday, November 6th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the oil and gas exploration company to buy up to 3.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

In other news, Director Eric L. Mattson sold 11,112 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $45.34, for a total value of $503,818.08. Following the completion of the transaction, the director now owns 66,862 shares in the company, valued at approximately $3,031,523.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eric L. Mattson sold 5,284 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 66,862 shares of the company’s stock, valued at approximately $3,012,801.72. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOV. Independent Order of Foresters raised its stake in National-Oilwell Varco by 19.7% during the second quarter. Independent Order of Foresters now owns 7,281 shares of the oil and gas exploration company’s stock valued at $316,000 after buying an additional 1,200 shares during the last quarter. State Treasurer State of Michigan raised its stake in National-Oilwell Varco by 1.1% during the second quarter. State Treasurer State of Michigan now owns 113,078 shares of the oil and gas exploration company’s stock valued at $4,908,000 after buying an additional 1,200 shares during the last quarter. Commerce Bank raised its stake in National-Oilwell Varco by 21.2% during the third quarter. Commerce Bank now owns 8,283 shares of the oil and gas exploration company’s stock valued at $357,000 after buying an additional 1,451 shares during the last quarter. Whittier Trust Co. raised its stake in National-Oilwell Varco by 180.6% during the second quarter. Whittier Trust Co. now owns 2,455 shares of the oil and gas exploration company’s stock valued at $202,000 after buying an additional 1,580 shares during the last quarter. Finally, MUFG Americas Holdings Corp raised its stake in National-Oilwell Varco by 29.8% during the second quarter. MUFG Americas Holdings Corp now owns 7,183 shares of the oil and gas exploration company’s stock valued at $312,000 after buying an additional 1,650 shares during the last quarter. Institutional investors own 95.24% 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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