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National Oilwell Varco: Valuation, Analysts' Ratings, and More

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Part 7
National Oilwell Varco: Valuation, Analysts' Ratings, and More PART 7 OF 7

Analysts’ Forecast for National Oilwell Varco on September 8

Analysts’ forecast for National Oilwell Varco

In this part, we’ll look at Wall Street analysts’ forecast for National Oilwell Varco’s (NOV) shares on September 8, 2017.

Analysts&#8217; Forecast for National Oilwell Varco on September 8

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Analysts’ rating for National Oilwell Varco

Approximately 24% of the Wall Street analysts tracking National Oilwell Varco rated it as a “buy” or some equivalent on September 8, 2017. Approximately 65% rated the company as a “hold,” while only 12% of the sell-side analysts recommended a “sell” or some equivalent. National Oilwell Varco accounts for 0.88% of the iShares US Energy ETF (IYE). IYE has fallen 9% in the past year—compared to a 4% fall in National Oilwell Varco’s stock price during the same period.

In comparison, ~55% of the sell-side analysts tracking TechnipFMC (FTI) rated it as a “buy” or some equivalent on September 8, 2017. Approximately 36% rated the company as a “hold.”

Analysts’ rating changes

From June 8, 2017, to September 8, 2017, the percentage of analysts recommending a “buy” or some equivalent for National Oilwell Varco rose from 17% to 24%. Analysts’ “hold” recommendations fell for National Oilwell Varco during this period. Last year, ~17% of the sell-side analysts recommended a “buy” for National Oilwell Varco.

Analysts’ target prices for National Oilwell Varco

On September 8, Wall Street analysts’ mean target price for National Oilwell Varco was ~$34.9. Currently, National Oilwell Varco is trading at ~$32, which implies ~10% upside at its current consensus mean price. Analysts’ average target price for National Oilwell Varco was also $34.9 a month ago.

Target prices for National Oilwell Varco’s peers

The mean target price, surveyed among the sell-side analysts, for Baker Hughes, a GE company (BHGE), was $49.4 on September 8. Currently, Baker Hughes is trading at ~$34.4, which implies ~43% upside at its average target price. The mean target price, surveyed among the sell-side analysts, for Basic Energy Services (BAS) was $29.6 on September 8. Currently, Basic Energy Services is trading at ~$15.7, which implies 89% upside at its average target price. The energy sector makes up 5.7% of the S&P 500 Index (SPX-INDEX). The SPX-INDEX rose 16% in the past year—compared to a 4% rise in National Oilwell Varco’s stock price.

To learn more about the OFS industry, read The Oilfield Equipment and Services Industry: A Primer.

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