In a report released today, Connor Lynagh from Morgan Stanley maintained a Hold rating on National-Oilwell (NOV), with a price target of $13.00. The company’s shares closed last Thursday at $10.83, close to its 52-week low of $8.00.
According to TipRanks.com, Lynagh is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -17.9% and a 34.5% success rate. Lynagh covers the Services sector, focusing on stocks such as Independence Contract Drilling, Nextier Oilfield Solutions, and Liberty Oilfield Services.
Currently, the analyst consensus on National-Oilwell is a Moderate Buy with an average price target of $12.60, which is a 10.0% upside from current levels. In a report issued on June 29, RBC Capital also maintained a Hold rating on the stock with a $14.00 price target.
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Based on National-Oilwell’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.88 billion and GAAP net loss of $2.05 billion. In comparison, last year the company earned revenue of $1.94 billion and had a GAAP net loss of $77 million.
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National Oilwell Varco, Inc. provides equipment and technology to the upstream oil and gas industry. The company operates through the following segments: Rig Technologies, Wellbore Technologies, and Completion and Production Solutions. The Rig Technologies segment monitors its capital equipment backlog to plan its business. The Wellbore Technologies segment designs, manufactures, rents, and sells a variety of equipment and technologies used to perform drilling operations, and offers services that optimize their performance. The Completion and Production Solutions segment integrates technologies for well completions and oil and gas production. The company was founded in 1841 and is headquartered in Houston, TX.