In this part, we’ll look at Wall Street analysts’ forecasts for National Oilwell Varco (NOV) stock on April 7, 2017.
On April 7, 2017, ~18% of the analysts tracking National Oilwell Varco rated it a “buy” or some equivalent. Approximately 74% rated the company a “hold.” Only 8% of the analysts recommended a “sell” or some equivalent, according to data compiled by Reuters. National Oilwell Varco is 0.06% of the iShares Russell 3000 ETF (IWV). The energy sector makes up 6.1% of IWV. IWV tracks the Russell 3000 Index (RUA-INDEX). The index is composed of 3,000 large companies in the US. RUA-INDEX rose 16% in the past year—compared to a 34% rise in National Oilwell Varco’s stock price.
In comparison, 55% of the sell-side analysts tracking TechnipFMC (FTI) rated it a “buy” or some equivalent on April 7, 2017. To learn more, read What Oilfield Services Companies’ Forward Multiples Indicate.
Analysts’ rating changes
From January 7, 2017, to April 7, 2017, the percentage of analysts recommending a “buy” or some equivalent for National Oilwell Varco rose from 11% to 18%. A year ago, ~17% of the sell-side analysts recommended a “buy” for National Oilwell Varco.
Analysts’ target prices
On April 7, Wall Street analysts’ mean target price for National Oilwell Varco was $39.16. Currently, National Oilwell Varco is trading at ~$38.9—implying ~1% upside at its current consensus mean price. A month ago, analysts’ average target price for National Oilwell Varco hadn’t changed. To learn more, read National Oilwell Varco’s Ratings, Valuations, Forecasts.
Target prices for National Oilwell Varco’s peers
The mean target price, surveyed among the sell-side analysts, for Oil States International (OIS) was $39.65 on April 7. Currently, Oil States International is trading at ~$32.2. It implies 23% upside at its average target price. The mean target price, surveyed among the sell-side analysts, for Oceaneering International (OII) is $29.85. Currently, Oceaneering International is trading at ~$27.3. It implies ~9% upside at its average target price.
To learn more about the OFS industry, read The Oilfield Equipment and Services Industry: A Primer.